Using the Labor Data from Hotel Effectiveness to Minimize Costs and Turnover
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Four Creatively Destructive Forces for the Hotel Industry
Larry and Adam Mogelonsky | July 13th, 2022
Hotel Owners Should Think Like Institutional Owners in the Post-COVID Era
Akash Datta | September 14, 2020
By Akash Datta, Dipti Mohan As we all gradually get back to business one of the pertinent questions that is being asked is whether hotels can still be considered a good investment vehicle going forward. We believe the answer to be a big ‘yes’. It’s true that the demand will be subdued for the near to medium term, but the industry is expected to regain its 2019 glory in the next 2-3 years, and this is perhaps an opportune time to invest in hotels. However, hotel owners need to re-evaluate their investment objectives and don the hat of an institutional investor now more than ever. Hotel development costs and gestation periods are fa...
Las Vegas COVID-19 Pandemic Update
Shannon S. Okada | September 11, 2020
By Shannon S. Okada The Las Vegas Convention and Visitors Authority (LVCVA) reported that the number of visitors to Las Vegas in June and July of 2020 totaled 2,503,100, which represented a 65.7% decrease from 7,293,300 visitors in June and July of 2019. Visitors to Las Vegas in the year-to-date period through July 2020 totaled 11,170,700, a 55.0% decline from the 24,825,500 visitors during the same period of 2019. However, visitor numbers increased 35.0% from June 2020 to July 2020. Las Vegas Visitor Statistics Source: Las Vegas Convention & Visitors Authority McCarran International Airport reported passenger traffic of 2,665...
Canada’s Hotel Industry Shows Lower Performance From Prior Weeks
STR | September 11, 2020
HENDERSONVILLE, Tennessee—STR data for 30 August through 5 September 2020 showed slightly lower performance from prior weeks for Canada’s hotel industry. Year-over-year declines, while improved, also remain significant. In comparison with the week of 1-7 September 2019, the industry reported the following: Occupancy: -36.5% to 41.9% Average daily rate (ADR): -26.7% to CAD128.13 Revenue per available room (RevPAR): -53.4% to CAD53.65 Occupancy for previous weeks came in at 42.1%, 42.9% and 41.8%, respectively For the week ending with 5 September, two provinces reached a 50% occupancy level: Prince Edward Isl...
U.S. Hotel Occupancy Gets Boost From Labor Day Weekend
STR | September 11, 2020
HENDERSONVILLE, Tennessee—Boosted in part by Labor Day weekend, U.S. hotel occupancy increased slightly over the previous week, according to the latest data from STR. 30 August through 5 September 2020 (percentage change from comparable week in 2019): Occupancy: 49.4% (-18.9%) Average daily rate (ADR): US$100.97 (-17.1%) Revenue per available room (RevPAR): US$49.87 (-32.8%) Hotel demand grew to 18 million room nights sold (+500,000 week over week). Saturday (5 September) occupancy came in at 69.0%, just 2.6% less than the comparable Saturday in 2019, and leisure markets that have showed the highest summer occupa...
Travel Industry: Appropriate Testing Protocols A Must or U.S. Economy Will Lose $155 Billion Due to International Travel Collapse
the Global Business Travel Association | September 11, 2020
Aviation industry groups urge the Administration to take necessary steps to safely open international travel markets Alexandria, Virginia (September 10, 2020) In a letter released today, 18 travel and aviation industry groups called on the Administration to take coordinated and deliberate action to safely reopen international travel markets. The letter, addressed to Health and Human Services Secretary Alex M. Azar II, Homeland Security Acting Secretary Chad F. Wolf, and Department of Transportation Secretary Elaine L. Chao, from the Global Business Travel Association (GBTA), along with groups like the U.S. Chamber of Commerce and Air T...
Multi-Year Recovery Along With New Opportunities for the Travel and Hospitality Sector, Predicts HVS Global Leadership
HVS | September 10, 2020
DENVER, CO, September 10, 2020: HVS senior management across the globe hosted a webinar on September 8, 2020, to offer expert perspectives on key hospitality topics including how the COVID-19 pandemic has affected their respective regions and the kind of recovery hoteliers can anticipate, as well as the long-term changes the sector is likely to experience. Opened by CEO Stephen Rushmore and moderated by HVS London Chairman Russell Kett, the webinar also included a straw poll, in which 51% of the over 1,800 global participants said they expected RevPAR (rooms revenue per available room) to return to pre-COVID-19 levels during 2023, wit...
Travel & Tourism Companies’ Sentiments Showing Signs of Rebound
GlobalData | September 9, 2020
The travel and tourism (T&T) sector witnessed an uptick in Q3 2020 earnings transcript sentiment scores, according to GlobalData, a leading data and analytics company. Hotel operators’ sentimental growth was influenced by improvements in occupancy rates, while airline companies’ sentiments were largely influenced by enhanced liquidity. Rinaldo Pereira, Senior Business Fundamentals Analyst at GlobalData, says: “There has been a surprisingly early sentiment rebound in the T&T sector, which has taken a hit due to the COVID-19 pandemic. Companies in this space have been supported by government relief packages, but questions arise...
Travel & Tourism Sector Witnessed 4.5% Growth in Deal Activity During August
GlobalData | September 9, 2020
A total of 115 deals were announced in the global travel and tourism sector during August 2020, which is an increase of 4.5% over 110 deals announced during the previous month, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “August marks the third consecutive month of growth in deal activity for the sector. This also assumes more significance as the travel and tourism sector remains one of the worst hit industries due to the COVID-19 pandemic and has witnessed several months of decline in deal activity in 2020. However, with several countries attempting to revive the t...
Economy Extended-Stay Hotels Hold Up Best During Q2 2020
Rodney Clough | September 8, 2020
By Rodney Clough, Chelsey Leffet The second quarter of 2020 was the low point for the hospitality industry, as the world was gripped by the pandemic and as travel lockdowns were widespread. HVS compiled the 2020 performance statistics of brands reported by public companies for the second quarter and compared the data to second-quarter performance of 2019. The data reflect the resiliency of economy, extended-stay brands during the first months of the pandemic. Average Q2 Occupancy Decline (Points of Occupancy) Source: Stock Filings Economy, extended-stay brands experienced the least amount of impact, albeit still a significant ...
Tripadvisor Reveals Fall Travel Index: For Americans, Florida’s Recovery Bolstered by Improved Searches for Hotel Bookings
Tripadvisor | September 8, 2020
Key Largo, Key West and St. Pete Beach are among the fastest recovering U.S. destinations since last year NEEDHAM, Mass., Sept. 8, 2020 -- Tripadvisor, the world's largest travel platform, today released findings from its Seasonal Travel Index for Fall, providing travelers with insight into where Americans are traveling this autumn as tourism markets continue their path to recovery during the COVID-19 pandemic. Recent Tripadvisor site data shows that globally, domestic travel for the fall season (September 1 - November 30, 2020) continues to gradually recover, with nearly two-thirds (65 percent) of all travelers planning domestic fall ge...
The Future of Hotel Call Centers
Travel Outlook Hotel Reservation Call Center Services | September 8, 2020
Why Outsourcing May Be in Your Hotel's Best Interest As hotels slowly reopen in parts of the US, it’s time to question the future role of hotel call centers. In the following interview, we’re speaking with Travel Outlook’s CEO John Smallwood and its Vice President Operations Brett Puffenberger, about the challenge’s hotel-based call centers are facing today and in the coming months and maybe years. Can you talk about the challenges’ hotel-based call centers are facing today? John: A major issue for hotels that are starting to reopen is having enough on-property staff to field incoming calls. A lot of hotels still have employe...
Fitch Ratings Maintains the Rating Watch Negative for U.S. Single-Borrower Hotel CMBS
Fitch Ratings | September 3, 2020
"Unprecedented" Revenue Declines Prompt Continued Negative Watch for Hotel CMBS On Aug. 26, Fitch Ratings maintained the Rating Watch Negative (RWN) on all Fitch-rated U.S. CMBS single-borrower hotel transactions. Below, we outline the market and asset level factors Fitch will continue to monitor in determining ratings actions that would lead to a revision of the RWN. We also outline the anticipated timelines. There will be an unprecedented decline in hotel revenues in 2020, thus cash flow analysis utilizing 2020 numbers would be an unreliable indicator of hotel value. Fitch is forecasting that trailing twelve-month (TTM) revenue per av...
Tourism Tidbits: Dealing With Difficult Customers and Situations in a Post-Pandemic World
Dr. Peter E. Tarlow | September 2, 2020
By Dr. Peter Tarlow Traditionally in most of the northern hemisphere the month of September is called the "dog days" of summer. The name derives from the fact that it is often too hot for even a dog to want to wander along the streets. During previous years, September was a time when people returned from vacations, schools reopened, and business returned to a more normal routine. The summer’s end was also high tourist season in much of the world. The transition period between summer and autumn seemed to many to be a period of full airplanes and hotels and a period when travelers had frayed nerves. This description was the “then...
The Roger Smith Hotel and the New Working-From-a-Hotel Model
Larry Mogelonsky | September 2, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Who is Roger Smith? As the hotel’s Director of Marketing and Co-Owner, John Knowles, jocularly explained during our time together, the enigmatic ‘Roger’ is many things to many people. The personified alias that has given this Midtown Manhattan property its name has always represented a place where great ideas are born and where bold actions are made reality. Now, however, the 136-room Roger Smith Hotel offers an archetypical example of a trendsetting post-Covid adaptation in a major urban center, and hoteliers would be wise to take note. Located at the corner of 47th and Lexin...
ProfitSword Launches Hospitality Recovery Dashboard to Provide Industry With Insight Into Real-Time Market Performance and Future Outlook
ProfitSword | September 2, 2020
Latest in hospitality business intelligence software utilized to visualize a range of key performance indicators and now freely available to assist industry professionals with navigating the post COVID-19 environment. ORLANDO, Fla. – (September 2, 2020) – ProfitSword, the leading developer of business intelligence and data integration software, has unveiled its designing of an advanced hospitality market performance dashboard that can aggregate real-time metrics from businesses across the industry to present a comprehensive analysis of how recovery efforts are progressing and what hoteliers can expect from the marketplace in upcoming m...
McLaren Technologies Leads Forward-Thinking, Tech-Driven Strategy at the Iconic Byron at Byron
McLaren Technologies | September 2, 2020
Is this Australia’s most luxurious contactless check-in experience? Three reasons why Byron at Byron, a Crystalbrook Collection Resort, will reopen as Australia’s most luxe post-pandemic hotel haven this spring AUSTRALIA, 02 September 2020 – As Australia moves into post-pandemic travel territory, several progressive hotels and resorts are adapting quickly to meet the changing demands of travelers in 2020. One property leading the charge (and change) is the iconic Byron at Byron, set to reopen its doors to the world (well, perhaps just Australia for the short term) as a Crystalbrook Collection Resort on 1 September 2020. Fresh ...
Franchised On-Site Hotel Medical Clinics: A New Competitive Advantage for Lodging Operations With Hotels Bridging Healthcare (H2H)
Adel Eldin | August 31, 2020
By Adel Eldin, Frederick DeMicco Introduction With an aging society, and travel and tourism likely to increase post covid-19, would a hotel or resort partnering with an onsite medical clinic (franchise) benefit and provide a competitive advantage to the owners? A case for an Innovative onsite hotel clinic as a potential franchise model in medical travel/tourism for lodging operations could be made. There are some lodging and medical clinic models that already exist. One is RosenCare® and another is ProntoCare. Described below, RosenCare® and ProntoCare may provide a template for onsite medical clinics at hotels and resorts and m...
ICC and World Travel & Tourism Council Issue COVID-19 Restart Guide for the Travel & Tourism Sector
August 28, 2020
28/08/2020 - The International Chamber of Commerce (ICC) and the World Travel & Tourism Council (WTTC) have published a set of recommendations for safely re-opening customer facing businesses in the age of COVID-19. The COVID-19 pandemic has caused widespread disruptions to global supply chains and businesses of all sizes. The Travel & Tourism sector has been particularly impacted by the current pandemic due to travel restrictions, declining traveller confidence and reduced consumer demand. In recognition of the challenges faced by the travel and tourism industry, ICC and WTTC have released a Quick Restart Guide for Employe...
Staycations Can Help the Hospitality Industry Weather the Storm
Dr. Alan Fyall | August 28, 2020
By Dr. Alan Fyall Months into the pandemic, it has now become cliché to talk about how COVID-19 has battered the travel and hospitality industry. Still, no matter how cliché, the severity of the situation continues to be a reality. Unfortunately, in all likelihood we are going to have to continue enduring these challenges for the foreseeable future, at least until a vaccine is found. Having said that, I do believe there are things the industry can do to alleviate some of its current hardship. The first thing to remember is that as brutal as the effects of the pandemic have been, there’s no reason to believe the industry won’t re...
Enseo’s Technology Investment Pays Off With New Patents and Touchless Technology Launched in Hotel Rooms Around the World
Enseo | August 28, 2020
Enseo continues to lead with world-class technology for people places, now protected by more approved US patents PLANO, Texas, Aug. 28, 2020 - Enseo®, one of the fastest growing technology service providers in the U.S., celebrates big wins during the COVID Crisis. Enseo has earned more than 10 new patents in 2020, including multiple patents related to touchless technology and remote control. This year, Enseo has 78 total patents issued by the U.S. Patent and Trademark Office. Enseo's extensive and ever-growing patent portfolio demonstrates its technology leadership and commitment to innovation. [caption id="attachment_241112" align=...
Mergers Ahead for the Post-Pandemic Hotel Industry
Larry Mogelonsky | August 26, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Our industry is hurting. While we’re optimists, totally convinced that we can beat the two-year recovery our financial protagonists are forecasting, the world of Wall Street may soon see things very differently. I’m not a betting man, but I’ve got a hunch that mergers are in the offing and may even be essential to keep our industry afloat. Before we look at our near-future state of affairs, let’s backtrack to the largest hospitality M&A deal in the century so far. When announced in the spring of 2016, Marriott’s merger with Starwood was controversial. Would it be appro...
What Hotels Will Look Like in a Post-COVID World
HotStats | August 25, 2020
For hoteliers and hotel investors, COVID-19 has rushed through the industry like a flood. Without a doubt, it will leave hotels forever transformed in its wake. As the virus subsides, it will reveal a transformed landscape, and hotels will need to adjust to move operations to higher ground. Want a peek into what this post-COVID-19 world will look like for hotels? In this article, we gaze into the future, examine which marks will stay with the hotel industry and lay out what hotels will look like in a post-COVID-19 world. The New Shape of Hotels Post-COVID-19 It may be impossible to predict the future, but there are solid indicators th...
Boutique Resort, Belvedere Hotel Mykonos Turns to IDeaS to Manage, Control and Maximise Data
IDeaS | August 25, 2020
Popular Greek hotel leverages IDeaS’ revenue technology and Advisory Services to enhance its revenue strategies LONDON—Aug. 25, 2020—One of the “Leading Hotels of the World,” the Belvedere Hotel Mykonos has selected IDeaS G3 Revenue Management System (RMS) to manage, control and maximize data. It also selected Revenue Architect, a revenue performance analysis service conducted by the IDeaS Advisory Services team. By leveraging this service, the hotel will be able to better understand the right revenue opportunities to pursue and how to capitalize on them. With more than 15 different room types including luxury villas, rooms an...
Knowland Announces Prospector, A Solution to Help Select Service and Boutique Hotels Source Group Business
Knowland | August 25, 2020
Exclusive, free 90-day access designed to support proactive, personalized selling during COVID-19 ARLINGTON, Va. — Aug. 25, 2020—Knowland, the leader in group hospitality analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues, announced today the launch of Knowland Prospector®, a prospecting solution designed for select service and boutique hotels to increase occupancy and meeting room revenue in today’s highly-constrained market. Knowland Prospector provides a fast, simple way for time-constricted executives to search, find and convert group business that is critical to their return to ...
