Using the Labor Data from Hotel Effectiveness to Minimize Costs and Turnover
Adam and Larry Mogelonsky | January 11th, 2023
Four Creatively Destructive Forces for the Hotel Industry
Larry and Adam Mogelonsky | July 13th, 2022
A Message to the Travel, Lodging and Hospitality Industry That May Save Your Business – Part 2
Dr. Frederick DeMicco | November 16, 2020
By F.F. Miles and Frederick DeMicco Ph.D., Professor, the Franke College of Business, School of Hotel and Restaurant Management, Northern Arizona University With our extraordinary downturn in hospitality and travel, I sought out a corporate business traveler, a frequent flyer, road warrior extraordinaire and someone in our global travel industry who occupies the C-Suite. With travel starting to spring back to life, especially for leisure travelers, I thought it would be a good idea to interview a frequent traveler to learn what life is all about today when flying, staying in hotels and renting cars, etc. Below reflects my interview wi...
AAHOA President & CEO Cecil Staton Talks Politics and the Campaign to Assist Hoteliers
Fran Worrall | November 12, 2020
The Asian American Hotel Owners Association (AAHOA) is the nation’s largest hotel owners association, representing nearly 20,000 members who own almost one in every two hotels in the United States. With billions of dollars in property assets and hundreds of thousands of employees, AAHOA members are core economic contributors in communities across the country. Recently, Hotel Online talked with AAHOA President & CEO Cecil Staton about the association’s ‘10,000 Letters, One Purpose’ campaign, which encouraged hoteliers to engage with members of Congress and the White House to implore them to pass a stimulus package that would eas...
Serviced Apartment Operators Prove More Resilient in Pandemic, Says HVS Report
HVS | November 10, 2020
10 November 2020, London: Trading across Europe’s serviced apartments has proved more resilient during the pandemic than other parts of hospitality despite an obvious decline in performance, according to a new report on the sector published today by global hotel consultancy HVS. A survey of leading operators, investors and lenders conducted for the annual report reveals that the majority of operators have seen top line performance decline by 25-50% this year, compared with 2019, while a third of operators report declines of up to 75%. These figures suggest those operations are still largely profitable, albeit with reduced margins, wi...
How the Pandemic Will Change the Meetings and Events Industry for the Better
the Global Business Travel Association | November 10, 2020
Exciting new technologies and creative content will be key for a stronger industry Alexandria, Virginia (November 10, 2020) For this week’s Collaboratory 2020 webinar series, the Global Business Travel Association (GBTA) – the world’s largest business travel association – welcomed CEO and Founder of Cvent, Reggie Aggarwal, to share his insights on the future of meetings and events and how technology will play an even bigger role moving forward. In the week’s headliner webinar, “Virtual, In-Person, Hybrid: What’s Next for the Meetings Industry?,” GBTA Interim Executive Director Dave Hilfman engaged Aggarwal on diverse to...
6 Ways Hotel Benchmarking Can Help the Hotel Industry Rebound
HotStats | November 10, 2020
The hotel industry won’t emerge from the financial chasm caused by COVID-19 overnight, but recent data already points to a rebound. Benchmarking could help quicken the pace of recovery. As the hotel industry continues to thrash its way through the pandemic, hotel benchmarking has the power to not only keep hotels afloat, but also help lift the sector to solid financial ground once again. How Hotel Benchmarking Is Reviving the Hotel Industry It’s no secret that the pandemic broadsided the hotel industry. Consider U.S. hotels, which recorded a gross operating profit per available room (GOPPAR) of $-9.87 in the third quarter, a 110% d...
Ryman Hospitality Properties, Inc. Reports Third Quarter 2020 Results
Ryman Hospitality Properties, Inc. | November 4, 2020
NASHVILLE, Tenn., Nov. 04, 2020 -- Ryman Hospitality Properties, Inc. (NYSE: RHP), a lodging real estate investment trust (“REIT”) specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the third quarter ended September 30, 2020. Third Quarter 2020 Highlights: Third quarter 2020 gross advanced room night bookings of approximately 669,000 room nights for all future periods, of which approximately 158,000 or 24% were unrelated to rebooking efforts Year to date through September 30, 2020 rebooked room nights of approximately 1.01 million room...
Summit Hotel Properties Reports Third Quarter 2020 Results
Summit Hotel Properties | November 4, 2020
AUSTIN, Texas, Nov. 4, 2020 -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the third quarter ended September 30, 2020. "We were encouraged by the significant improvement in demand during the third quarter as our portfolio RevPAR more than doubled from the second quarter driven by improved short-term leisure demand and significant market share gains. Our monthly corporate cash burn rate has been reduced by nearly 70% which has significantly extended our liquidity runway as our disciplined focus on cost controls and refining of an already efficient operating model lead to improved hotel-level pr...
COVID Impacts Expected to Force Hotel Sales in 2021
HAMA | November 3, 2020
3 November 2020, Singapore – HAMA’s (Hospitality Asset Managers Association) member survey of the region’s hotel Ownership was just completed, and results confirm what many industry watchers have been whispering for months. Eric Levy, MD of Tourism Solutions International viewed the results of this survey and commented “In my 30 years in the region, we have had many crises, this one is different. We will see more forced sales of hotels, some by owners freeing up cash to reduce debt, some pressured by lenders and some perhaps even pushed into foreclosure/receivership by impatient lenders…something that lenders i...
The Outlook for Hospitality: Silver Linings in the Midst of Crisis
Fran Worrall | November 2, 2020
Vendors Address The Future of The Industry, Part 1 By Fran Worrall During the past seven months, the hospitality industry has faced the worst crisis in recent history. As COVID-19 has spread around the globe, hotels have been forced to lay off employees, curtail services and in some cases close. At some point, however, the world will regain its equilibrium. Consumers will be eager to travel again. And businesses will want to hold group meetings and conferences. What will the hotel landscape look like? Can anything positive come out of this crisis? We talked with a number of vendors for this multi-part series on the outlook for ho...
174M Travel & Tourism Jobs Could Be Lost Due to COVID-19 and Travel Restrictions, Says WTTC
WTTC | October 30, 2020
Research reveals small yet positive job gains, driven by the return of domestic travel in a number of markets Already in present circumstances, 143m jobs will be impacted Worst forecast can be avoided if an immediate coordinated response is implemented London, UK: New figures from the World Travel & Tourism Council (WTTC) reveal that despite a slight improvement since June, a staggering 174m Travel & Tourism jobs could be lost in 2020 if barriers to global travel remain in place. The new figure comes from WTTC’s latest economic data, which looks at the punishing impact of COVID-19, as well as local and global travel restricti...
Summarizing the Financial Consequences of the Pandemic
Larry Mogelonsky | October 28, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Is COVID-19 the Armageddon for the hotel industry? That’s the first question I asked Dr. Donald W. Wise, co-founder and senior managing director of Turnbull Capital Group. With over 36 years of investment banking experience in the hospitality industry, he and this firm have been involved in roughly $20 billions of advisory, consultation, note sales, preferred equity and debt placements, and transactional engagements on both the buy-side and the sell-side. Given our current state of affairs, it behooves all senior executives and aspiring hoteliers to know a bit about the behind-clo...
U.S. Hotel Profit Stuck in Neutral; Rest of World Switches Gears
HotStats | October 27, 2020
Bouncing back to profitability is proving a Sisyphean task for U.S. hotels. The rest of the world is having a slightly easier path. For the seventh consecutive month, U.S. hotels in September remained in negative gross operating profit per available room territory and at $-9.19, it was a 34% regression from the month prior and a 109.6% year-over-year decrease, according to new data from HotStats. September and into October are typically strong months for U.S. hotels, but the data show that YOY comparison is becoming less and less reliable as the pandemic soldiers on. Dwindling profit appears to be a function of unrelenting expenses, ...
Japan Regional Markets: Recovery Leaders
STR | October 27, 2020
As entry restrictions for international travelers in Japan remain in place, new trends in hotel performance have emerged. Recent data suggests a distinct preference for regional destinations, helped in part by the Japanese government’s “Go to Travel” campaign to promote domestic travel and help boost local businesses. But while regional markets are leading the recovery in the country, levels remain well below pre-pandemic levels with full recovery not expected for years. Regional markets: Where does recovery stand? As we’ve seen in other markets around the globe, regional markets in Japan are leading the recovery as key cities l...
Hospitality Ventures Management Group (HVMG) Outperforms Industry Through Rapid Execution of Plan as Pandemic Quickly Spread
Hospitality Ventures Management Group | October 26, 2020
Company Shares Strategies Leading to Significant Outperformance for Stronger GOPPAR Results and GOP Percentage ATLANTA, October 26, 2020—Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today shared key elements of its strategy that led to significant industry outperformance in multiple metrics, according to STR data around expenses and operating margins. For the three-month period June through August 2020, HVMG delivered substantially greater GOPPAR (Gross Operating Profit Per Available Room) and GOP percentage than the industry and continues to outperform indu...
Pacific Countries: From the Highs to the Lows, Where Does Performance Stand Now?
STR | October 26, 2020
Countries across the world have seen various levels of impact over the last seven months due to the COVID-19 pandemic. So where exactly do Pacific countries stand now? We look at how performance has changed over the course of the pandemic. Australia Australia experienced its lowest occupancy and RevPAR levels in April, 19.8% and AUD23.59, respectively. ADR, on the other hand, was at its lowest a month later in May at AUD118.36. Performance has since grown in the country as restrictions have ultimately eased. The country saw its highest performance levels in July: occupancy (41.5%), ADR (AUD143.96) and RevPAR (AUD59.72). In August, however, ...
Deal Activity in Travel & Tourism Sector Declined by 11.3% During September
GlobalData | October 23, 2020
A total of 102 deals were announced in the global travel and tourism sector during September 2020, which is a decrease of 11.3% over 115 deals announced during the previous month, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector is among the worst hit due to COVID-19, and deal activity in the sector has also remained inconsistent since the outbreak. After showcasing improvement for three consecutive months, deal activity in the sector plummeted once again in September.” Most of the deal types witnes...
A Message to the Travel, Lodging and Hospitality Industry That May Save your Business
Frederick J. DeMicco | October 22, 2020
By F.F. Miles and Frederick DeMicco Ph.D., Professor, the Franke College of Business, School of Hotel and Restaurant Management, Northern Arizona University With our extraordinary downturn in hospitality and travel, I sought out a corporate business traveler, a frequent flyer, road warrior extraordinaire and someone in our global travel industry who occupies the C-Suite. With travel starting to spring back to life, especially for leisure travelers, I thought it would be a good idea to interview a frequent traveler to learn what life is all about today when flying, staying in hotels and renting cars, etc. Below reflects my interview wi...
Consumer Survey Finds 70 Percent of Travelers Plan to Vacation in 2021
Travel Leaders Group | October 19, 2020
NEW YORK, Oct. 19, 2020 - An overwhelming majority of US and Canadian travelers (99 percent) are eager to travel again, with 70 percent stating that they plan to take a vacation in 2021, according to a Travel Leaders Group survey of nearly 3,000 frequent travelers. The survey was conducted in September in conjunction with the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector. A clear majority of US and Canadian travelers (70 percent) say they plan to take a vacation in 2021Results indicate that 45 percent of respondents have already made plans or are starting to make finite plans f...
WTTC to Establish Global Steering Committee to Revive International Travel
October 19, 2020
WTTC takes on global leadership and coordination role to provide a route to recovery for Travel & Tourism sector Up to 100 million jobs globally could be saved London, UK: The World Travel & Tourism Council is to spearhead a major global drive to revive international travel with the public and private sector working together in partnership. Last week, G20 Tourism Ministers hosted more than 45 CEOs and Members of WTTC, who at the request of Saudi Arabia, presented their Jobs Recovery Plan to save the besieged Travel & Tourism sector and 100m jobs globally. The WTTC Jobs Recovery Plan could save 65 million jobs across all...
U.S. Hotel Development Cost Survey 2020
Luigi Major | October 15, 2020
By Luigi Major In 2019, the national lodging market reached new heights, with hotels reporting the highest occupancy and ADR levels ever recorded. Similarly, hotel development continued at a steady pace, with new hotels opening to a burgeoning market and new and exciting projects continuously being moved through the development pipeline. Since the start of the COVID-19 pandemic, government restrictions, travel and group cancellations, and an overall fear of traveling have caused an unprecedented drop in travel and tourism demand in the country and around the world, which has resulted in substantially lower occupancies and average rates. T...
Consumer Survey Finds 70 Percent of Travelers Plan to Holiday in 2021
WTTC | October 14, 2020
Research provides data on issues industry needs to address to hasten recovery An overwhelming majority of US and Canadian travelers (99 percent) are eager to travel again, with 70 percent stating that they plan to take a holiday in 2021, according to a Travel Leaders Group survey of nearly 3,000 frequent travelers. The survey was conducted in September in conjunction with the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector. Results indicate that 45 percent of respondents have already made plans or are starting to make finite plans for their next holiday, while 54 percent say the...
Survey: 9 in 10 Voters Support Congress Passing Another COVID Relief Bill To Help Distressed Businesses
AHLA | October 13, 2020
WASHINGTON (October 13, 2020) – Americans are concerned about the impact of the coronavirus pandemic on all aspects of the economy, and 90 percent support Congress passing another economic stimulus bill to help distressed small businesses and employees, according to a new survey of registered voters conducted by Morning Consult and commissioned by the American Hotel & Lodging Association (AHLA). A resounding 89 percent agree that Congress should remain in session until reaching an agreement on an economic stimulus package. “Millions of Americans are out of work, and thousands of small businesses are dying,” said Chip Rogers, pres...
Tourism After Lockdown: Taking the Pulse of Travel
STR | October 12, 2020
STR’s Tourism Consumer Insights team has been keeping a close eye on consumer trends around the industry during this truly unprecedented time. The twists and turns of the COVID-19 pandemic have contributed to seismic changes in tourism, which has included the cessation of international travel for some countries. As a whole, we have witnessed long-lasting shifts in consumer behavior and attitudes, producing an increase in active travel, soaring levels of e-commerce and, yes, even ballooning rates of pet ownership. Keen to take the pulse and measure the sentiment of global travelers, STR conducted quantitative research in late August a...
Mixed-Use Development – The Most Sustainable Model for Hotels Going Forward
Mandeep S. Lamba | October 12, 2020
By Mandeep Lamba, Akash Datta, Dipti Mohan Mixed-use development, usually a planned combination of hotels, retail, office or residential space, is a fairly widespread concept globally with several such iconic projects around the world. In the last decade or so, the concept has been gaining ground in India as well, though the combination (two or more elements) of retail, office, and residential spaces have been more popular. However, as investors look to maximize returns through efficient land usage and optimal utilization of FSI, hotels have also been added to the mix. Mixed-use projects leverage the best of each asset class, while dive...
