HFTP® Acquires Leading Hospitality Industry Brands: Hospitality Upgrade, Hotel-Online, The CIO Summit and The Executive Vendor Summit
Hospitality Financial and Technology Professionals | June 25th, 2024
Karisma Hotels & Resorts Kicks Off ‘Holidays for Your Heroes’ Initiative With Donation of 150 Resort Stays to Essential Workers and Their Fam
Karisma Hotels & Resorts | May 14, 2020
MIAMI, FLORIDA (May 7, 2020) – Karisma Hotels & Resorts, the award-winning luxury hotel collection with properties in Latin America, the Caribbean and Europe, today announced its Holidays for Your Heroes initiative donating 150 luxury all-inclusive resort stays to essential workers and their families through its Karisma Foundation and partners. The vacations provide heartfelt thanks for the tireless work of those in the healthcare, delivery and other frontline industries, giving them something to look forward to, in addition to much-needed rest and relaxation. Karisma has opened a public call to nominate everyday heroes who are deservi...
Post-COVID Brokers Opinion of Value...
Avison Young | May 14, 2020
ATLANTA – May 14, 2020 – Avison Young Hospitality Group presents a new Post-COVID Brokers Opinion of Value Format. The hospitality industry has been shaken to its core over last several months by the Covid-19 pandemic and the global economic shutdown the virus has left in its wake. Markets across the country and the world have seen business grind to a halt, with hoteliers in every corner of the globe feeling immense economic pressure from the drastic loss in business. We at Avison Young understand the hotel owner’s need for a property specific presentation they can use for their partners, investors and lenders that demonstrates vi...
AHLA Statement on Heroes Act...
AHLA | May 14, 2020
WASHINGTON (May 14, 2020) – The American Hotel & Lodging Association (AHLA) today expressed support for a number of elements contained in the HEROES ACT (HR 6800) that would improve upon the Paycheck Protection Program (PPP) to aid small business hotel operators and save millions of jobs. With 70 percent of hotel employees laid off or furloughed, AHLA has consistently advocated for millions of hotel employees and the tens of thousands of mostly small business hotel owners. Measures which offer PPP loan flexibility, and extend the covered period to use loan proceeds are critical to keeping hotels open and hotel employees on the payro...
Analysis: At What Occupancy Rate Can a Hotel Break-Even?...
HotStats | May 14, 2020
By David Eisen and Laura Resco COVID-19 has made breaking-even more tolerable than the alternative—going broke. It's not the hand hoteliers wanted, but it's the hand they've been dealt, forcing them to approximate at what occupancy rate they can operate their hotel such that cost and revenue are equal. In these extraordinary times, it's been all pain, no gain. But as the global economy resets, hoteliers are digging themselves out from the coronavirus carnage. And a break-even analysis is one way to jumpstart the excavation project. One hotelier who knows this is Imesh Vaidya, CEO of Premier Hospitality, which is based in Alb...
Industry Dematerialisation...
Youri Sawerschel | May 14, 2020
By Youri Sawerschel What services can hotels offer that digital upstarts can’t? For centuries, the core of the hotel business has been essentially the same everywhere. Sell rooms, check in the guests, serve breakfast and check them out. But now Online Travel Agencies (OTAs) have taken over the booking element, apps like Deliveroo and Uber Eats offer a myriad of breakfast, lunch and dining options, and Airbnb is challenging even the room portion of the business. This disruption has forced hoteliers to rethink their value proposition around a simple question: what can I offer that these digital upstarts can’t ? One answer to th...
Paris Hotels Will Experience Short-Term Pain but a Strong Recovery to Follow, Says HVS London...
HVS | May 14, 2020
14 May 2020, London: Once the Paris hotel sector overcomes the initial period of recovery, the longer term, post-Covid future looks promising with the Olympic Games in 2024 expected to provide a much-needed boost to tourism. Looking at recovery in Paris’s hotel sector, global consultancy HVS says that the Games are likely to benefit the rebound of tourism, with the €2bn investment plan to revitalise Disneyland Paris expected to go ahead, albeit with possible delays because of the pandemic. Paris is currently undergoing a phased easing of the strict coronavirus lockdown measures imposed on 17 March, with hotels – as well as resta...
Guest Perspectives Post COVID-19: What Hotel Guests Want From a ‘New Normal’...
Terri Miller | May 14, 2020
By Terri Miller As human beings we know change is inevitable. They say life is 10% of what happens to us and 90% is how we respond to it. There’s no question the hospitality industry will rebound from this challenging period. And when we do, it would be naive to think everyone will resume life as we knew it. We need to first acknowledge guests will adjust the way they travel and interact with hotels. But we have to go further than just acknowledgement. We must understand, adapt, and respond before the first guests ever (re)crosses our threshold. We need to actively re-instill trust before a guest even considers travel. Technology and ...
ProfitSword Publishes Best Practice Guide on How Hoteliers Can Overcome Market Uncertainty and Safeguard Revenue...
ProfitSword | May 14, 2020
In-depth report details how latest business intelligence practices can preserve hotel financial stability and ability to implement successful strategies despite economic challenges. ORLANDO, Fla. – (May 14, 2020) – ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has published a detailed guide demonstrating how hoteliers can leverage the latest business intelligence strategies and their organization’s performance data to safeguard hotel operations and revenue during times of economic hardship. Entitled, “Staying One Step Ahead of Economic Uncertainty With an Effective Business ...
First Hospitality to Manage Fairfield Inn & Suites by Marriott Columbus OSU...
First Hospitality | May 14, 2020
COLUMBUS, OHIO - May 14, 2020—First Hospitality today announces it has assumed management of Fairfield Inn & Suites by Marriott Columbus OSU. The hotel is owned by Fillmore Capital Partners, LLC and features a fresh, contemporary design following a $4.5 million renovation. “This hotel is a strong addition to our portfolio, and we look forward to continuing our partnership with Fillmore Capital,” says David Duncan, president and CEO of First Hospitality. “We’ve been managing hotels in the Columbus market for nearly a decade. I’m confident that Fairfield Inn will continue to be an asset for Columbus visitors under the leader...
Hotels at Secondary and Tertiary Airports Will Suffer Longer...
Jenny Lee | May 13, 2020
By Jenny Lee The coronavirus pandemic’s impact on travel is thought to be six or seven times greater than the 9/11 attacks, according to the U.S. Travel Association. Air travel volume fell precipitously through March. The estimated revenue losses by air carriers in 2020 is at least $252 billion. In late March, domestic carriers received a $60 billion bail-out, with some strings attached. The Department of Transportation issued an order that carriers receiving financial assistance under the Coronavirus Aid, Recovery, and Economic Security Act (the CARES Act) are required to maintain minimum air service to all destinations served as o...
Research Shows Strength of Tourism Sector’s Support for Workers and Communities...
The World Tourism Organization (UNWTO) | May 13, 2020
As the sector faces up to an unprecedented challenge, the World Committee on Tourism Ethics (a subsidiary of the World Tourism Organization) has analysed the steps being taken by businesses and trade associations to mitigate the impact of the pandemic. Studying the actions taken by Private Sector Commitment to the Global Code of Ethics for Tourism (GCET) in 25 countries, the research revealed that, in spite of staff furloughs, employers across the sector are stepping up their support for workers and for communities. Tourism ‘going beyond its responsibilities’ Committee Chairman Pascal Lamy touched base with the GCET Signatories to learn...
We’ll Be Stronger When This Is Over...
Shep Hyken | May 13, 2020
By Shep Hyken I see light at the end of the tunnel. While we’re not back to “business as usual,” we are starting to see business reopen and adapt to a new normal. I’ve made many observations over the past couple of months, some of which have found their way into my weekly posts. Here’s another one: With the right attitude, we’ll be stronger when this is over. As I’ve mentioned numerous times in the past, I’m an optimistic, glass-half-full, batteries-included kind of guy. I was reflecting on how my thoughts differ from friends, colleagues, my siblings and even my kids. Was I born this way? Maybe, but I can think b...
Covid-19 Crisis Forces Hoteliers to Review Their Human Resources Strategies...
Alex Sogno | May 13, 2020
By Alex Sogno Does the leisure and tourism workforce need to be rescued? Considering the industry contributes 10.4% of global GDP, supporting one in ten jobs on the planet [i], we can affirm that the tourism industry is one of the principal job providers. Furthermore, business recovery is expected to be slow: the UNWTO has estimated a 20%-30% global decline in international tourist arrivals [ii]. Major hotel chains are reducing their workforce. The business is performing 50% below normal levels in the European market and Asia Pacific, excluding China [iii] ; Marriott’s CEO Arne Sorenson said that the hotel business was running almos...
Will COVID-19 Impact Hotel Business Insurance Claims?...
Don Scaramastra | May 13, 2020
By Don Scaramastra As COVID-19 ravages our country and the world, perhaps no sector in the United States has suffered more than the hospitality industry. Government orders have effectively closed hotels and resulted in the widespread cancelation of meetings and events for the foreseeable future. While there is talk of “opening up” the economy, and while some states are taking measures to begin doing so, it’s unclear whether the public at large is ready to travel or meet in large groups anytime soon. For some hotels, help may be on the way in the form of business interruption insurance. This insurance is typically included in a p...
Sojern Launches New Interactive COVID-19 Travel Insights Dashboard...
Sojern | May 13, 2020
Real-time travel data provides travel marketers the tools needed to monitor travel demand and plan for recovery SAN FRANCISCO – May 13, 2020 – Sojern, a leading provider of digital travel marketing solutions, today launched a new interactive dashboard providing real-time COVID-19 travel insights. These insights will empower Sojern’s customers, partners and industry leaders to forecast travel demand and make informed decisions about market recovery. Sojern will be providing free and unlimited access to the public via the Sojern website, a service the firm has only ever provided to customers and partners. The dashboard, updated dail...
Will They Hit the Road on Day One?...
Mower | May 13, 2020
NEW YORK – May 13, 2020 – More than one in four U.S. adults say travel is among the activities they are excited to return to when experts sound the all clear on COVID-19 restrictions. But will they be ready to go on Day One? A survey by independent marketing, advertising and public relations agency Mower reveals that 60 days will pass before a majority of Americans will feel comfortable returning to most travel-related activities. Americans will be more inclined to take the wheel than take to the skies It will be Day 30 before half of Americans anticipate feeling comfortable taking a vacation by car and Day 60 before half will fly...
Hotels Count the Cost of COVID-19 Pandemic and Look to Remodel Business to Rebuild Consumer Confidence...
HVS | May 12, 2020
By Russell Kett 12 May 2020, London: With much of Europe’s hotel sector still closed for business the industry faces a huge challenge to rebuild consumer confidence once Covid-19 lockdown restrictions start to lift later this year, says global hotel consultancy HVS London. Providing hotel businesses survive financially - utilizing a combination of rent and bank loan freezes, Government support, working with owners and furloughing staff - they also face the question of how long it will take for consumers to once again feel confident staying in hotels.< “When demand for hotels does start to return, whether that’s later this ye...
WTTC Unveils “Safe Travels” – New Global Protocols to Restart the Travel & Tourism Sector...
May 12, 2020
London, UK: The World Travel & Tourism Council (WTTC) which represents the global Travel & Tourism private sector has unveiled a range of new worldwide measures to restart the sector. The measures have been designed to rebuild confidence among consumers so they can travel safely once the restrictions are lifted. The new Safe Travels protocols provide consistency to destinations and countries as well as guidance to travel providers, operators, and travellers, about the new approach to health and hygiene in the post COVID-19 world. The health and safety of travellers and workers is put at the heart of the new global protocols, ...
Forging the Future, BENCHMARK Takes the Risk Out of Meeting Planning; Launches the Meeting Accelerator Program...
BENCHMARK®, a global hospitality company | May 12, 2020
The Woodlands (Houston), Texas, May 12, 2020 - BENCHMARK®, a global hospitality company, has officially launched its strategic recovery initiative that will support meeting planners and partners while forging new solutions for the industry’s future in a post COVID-19 world. In effect through March 2021, the far-reaching plan significantly mitigates the risk and uncertainty of committing to new meetings and events. To provide reassurance to corporate planners, the plan includes flexible short-term bookings, relaxed attrition and cancellation fees, and 100% credit given on re-bookings. Meeting spaces at Benchmark properties will be restru...
Best Practices for Reassuring Your Customers and Employees During the Closure of Your F&B Outlets...
Alex Sogno | May 12, 2020
By Alex Sogno During this disruptive time, most hoteliers and F&B managers agree on one thing: A not-so “business-as-usual” future will follow the current changes. We know that as the hospitality industry begins recovering from COVID-19, there will be many new challenges ahead. But what can be done with F&B outlets now, to come out of this crisis stronger and better prepared for these future changes? Together with industry experts, we compiled best practices for providing reassurance to customers and employees during the closure of your F&B outlets. Furthermore, we offer you some suggestions on how to build up relationships...
Statement on Corporate Layoffs at Hyatt...
Hyatt Hotels Corporation | May 12, 2020
Due to the historic drop in travel demand and the expected slow pace of recovery, Hyatt has made the extremely difficult decision to implement layoffs and restructure roles across its global corporate functions, beginning June 1, 2020. These actions will impact around 1,300 colleagues around the world. Since the start of the COVID-19 pandemic, Hyatt has taken numerous actions in an effort to meet the challenges our industry is facing including reductions of company-wide expenditures, extended salary reductions for the Senior Leadership Team and Board of Directors, and temporary work and/or pay reductions for all corporate colleagues. Unfor...
Hilton Volunteers Join Forces With Springboard to Keep Hospitality Dream Alive...
Springboard | May 12, 2020
LONDON - Hilton has teamed up with charity partner Springboard to encourage Team Members to volunteer for the charity, as it faces the challenges of delivering crucial services during the Covid-19 pandemic. The Covid-19 crisis has had a profound impact on Springboard, which delivers training and support to disadvantaged and young people looking to start a career in hospitality. With social distancing and funding cuts hampering its operation whilst demand for its services grows, the charity has reacted quickly by introducing virtual training and mentoring. It is now seeking volunteers to support its members, many of whom have found themselv...
Next Beekeeper COVID-19 Webinar to Discuss ‘Weathering the Storm and Preparing for Recovery’...
Beekeeper | May 12, 2020
Leading hospitality experts from IHG, Fitler Club, and HDG Hotels join Beekeeper to discuss actionable ways to prepare for the ‘next normal’ and how to be successful in the new world San Francisco, May 12, 2020 — What will it take to be successful in the new world? As part of its ongoing COVID-19 Webinar Series, Beekeeper will host industry experts from IHG, Fitler Club, and HDG Hotels to discuss weathering the COVID-19 storm and planning for recovery. The online event will be held Tuesday, May 19 at 11:00 a.m. EST / 5:00 p.m. CET. James Lemon, founder and CEO at The Growth Works and Strategy & Innovation Lead, Commercial &...
Marriott Results Illustrate Competence, Says GlobalData...
GlobalData | May 12, 2020
Following the recent announcement of Marriott’s Q1 results; Ralph Hollister, Analyst, Travel & Tourism at GlobalData, a leading data and analytics company, offers his view on the situation: “Marriott significantly missed already lowered estimates for first-quarter profit. Alike its competitors, bookings plunged in the later stages of Q1 as restrictions on movement became more draconian around the globe. Factors that contributed to the loss that were specific to Marriott included guaranteed reserves of $148m, as well as impairment charges and bad-debt expenses. “Although adjusted earnings of $0.26 per share severely lagged e...
