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
There’s Light at the End of the Tunnel: Implement Technology Today to Retain and Attract Top Talent Tomorrow
Robb Monkman | May 5, 2020
Employee communication and safety technologies are bringing light to the dark cloud of COVID-19 and a silver lining is emerging with added loyalty By Robb Monkman Sometimes when things seem the darkest, moments of beauty emerge in the most unexpected places. During this time of quarantine, rivers are cleaning up, vegetation is growing, the air is becoming cleaner, there are fewer reports of crime, families are bonding, workers are resting, and nations are banding together for the good of mankind. While hospitality is possibly one of the hardest hit industries, it too is finding a silver lining amidst the darkness. Proactive hotel com...
Hospitality Financial Leadership: What Will the Post Pandemic Hotel World Look Like?
David Lund | May 4, 2020
By David Lund Having been around awhile I have seen the changes that have come as a result of major global events. The starkest example is our pre- and post-911 world. It showed us that the idea of getting on an airplane means we need to prove we do not have any threatening objects with us, like guns, knives and explosives and we need to prove we are who we say we are. We even must prove we’re not a threat and that we’re on the right security list. Talk about a big change in the way we travel – not to mention the changes in technology and investment. I think the other side of this pandemic is going to see some profound changes ...
Hotel Industry 2020 – The New Normal
Robert Rauch | May 4, 2020
By Robert Rauch and Sarah Andersen Welcome to the Twilight Zone or the surreal existence of those of us in hospitality with empty hotels. They are slowly and not so surely picking up but we will return to a “new normal” soon. What will it look like? The “light and warmth of hospitality,” coined by Conrad Hilton, will not be apparent upon entrance to a hotel post COVID-19. Expect acrylic covered front desks, masks and gloves, signage advising guests to use caution, frequent disinfecting of public spaces, wide open lobbies with limited seating and restaurants and bars that have six feet of separation in every direction. The good news...
U.S. Travel Industry Releases Guidance for “Travel in the New Normal”
U.S. Travel Association | May 4, 2020
WASHINGTON -- May 4, 2020 -- Following a collaboration between medical experts and a broad array of businesses and organizations, the U.S. travel industry submitted to the White House and governors a document containing detailed guidance for travel-related businesses to help keep their customers and employees safe as the country emerges from the COVID-19 pandemic. Entitled "Travel in the New Normal," the document describes vigorous measures the travel industry will follow to reduce the risk of COVID-19 and help to communicate across each and every step of a traveler's journey. The goal: to allow travel to safely resume as states and munic...
In Focus: The Impact of COVID-19 on Hospitality
Russell Kett | May 1, 2020
The impact that COVID-19 is having on the hospitality industry is palpable. There is no time more important than right now to come together, share information, and discuss what this means for our future. Katherine Doggrell is joined by Russell Kett, Chairman at HVS. We recognize there are difficult times ahead but are confident that the hospitality industry will recover. As we move forward, we will continue to provide you with our latest insights and information. HVS stands ready to support you whether you are a developer, owner, operator, lender, or investor. Our expertise covers the full range of hospitality assets and spans the full...
PurpleCloud Donates Free Covid Response (CR) Task Platform to Provide Hotels With Enhanced Cleaning and Safety Protocols
PurpleCloud | May 1, 2020
Atlanta, May 1, 2020 - PurpleCloud today announced the release of PurpleCloud CR (Covid Response), a streamlined free version of its hotel task optimization platform, designed to help hospitality organizations meet today’s enhanced cleaning and safety protocols. PurpleCloud Technologies CEO and Co-Founder Adria Levtchenko made the announcement. PurpleCloud CR is pre-loaded with expert materials to help hospitality teams jumpstart housekeeping programs, which will be especially useful as hotels ramp up occupancy or reopen in the future. The platform includes comprehensive training materials that operate on tablets, smartphones or computer...
Web Traffic Shows Early Signs of Positive Trend Across All Regions
Sarah McCay Tams | May 1, 2020
By Sarah McCay Tams, Director of Content, EMEA at Duetto The latest edition of our bi-weekly Pulse Report published earlier today, providing hoteliers from around the world with a snapshot on key market metrics for April 6-19. Providing an in-depth look at On the Books, New Bookings, Cancellations and Web Traffic data, the latest edition of the Report included the latest demand signals for Latin America as well as APAC, EMEA and North America. The Duetto Team added the Latin American data to the report following suggestions from subscribers. “We added Latin America into our second iteration of the Pulse Report because we got a r...
Social Distancing: Short and Long-Term Implications for the Foodservice Industry
Hospitality Insights | May 1, 2020
How social distancing is impacting the foodservice industry, and what new trends and innovations operators can expect to see in the coming weeks, months and years. Social distancing: not just a trend, but a new pattern In light of the COVID-19 pandemic, government-mandated closures and social distancing measures have heavily impacted the foodservice industry on a global level, forcing many businesses to re-strategize as they fight for short-term survival. But what will happen in the long run? Experts predict that the new containment measures – and in particular, social distancing – will last well beyond the next few weeks, as government...
Consumer Interest in Travel Categories Remains Significantly Lower
Comscore | May 1, 2020
Visitation to travel sites 55-65 percent lower than volumes during week of February 3, 2020 RESTON, Va., May 1, 2020 -- The latest insights from Comscore (Nasdaq: SCOR), a trusted partner for planning, transacting and evaluating media across platforms, shows that consumers are seemingly still not ready to think about travel plans amid the ongoing COVID-19 pandemic. The continuing depressed visitation volume has also translated to a downward trend in consumer spending on travel. Overall, Comscore observed a 43 percent year over year drop in desktop travel spending for the month of March 2020, despite the fact that the ...
COVID-19 Outbreak Has Jeopardized UK Hospitality Sector, Says GlobalData
GlobalData | April 30, 2020
The COVID-19 outbreak has caused mass cancellation of corporate events, international congress meetings, sports and social events. International travel bans in addition to the UK’s lockdown and social distancing measures are expected to severely impact the hospitality industry in the UK, says GlobalData, a leading data and analytics company. The hospitality and leisure industry contribute 5% of national GDP and accounts for 10% of employment in the country, according to UKHospitality. The main tourism source markets for the UK are major European countries including Belgium, France, Germany, Ireland, Italy, Spain, the US and Australia. Th...
The Los Angeles Market Continues to Lead the U.S. Hotel Construction Pipeline at the Close of the First Quarter of 2020*
Lodging Econometrics | April 30, 2020
April 30, 2020 – PORTSMOUTH, NH - Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2020, the top five U.S. markets with the largest total hotel construction pipelines are: Los Angeles with 166 projects/27,752 rooms; Dallas with 164 projects/19,999 rooms; New York City with 152 projects/26,111 rooms; Atlanta with 143 projects/19,423 rooms; and Houston with 132 projects/13,316 rooms. Nationally, under construction project counts hit a new all-time high with 1,819 projects with 243,100 rooms. Markets with the greatest number of projects already in the ground are led by New York City with 108 projects/1...
WTTC Outlines What “The New Normal” Will Look Like as We Start to Travel
April 30, 2020
London, UK: The World Travel & Tourism Council (WTTC) has outlined what the “new normal” will look like as countries begin to end their COVID-19 lockdowns and ease travel restrictions. “Travelling in the New Normal” is part of WTTC’s plan which includes critical steps and coordinated actions, including new standards and protocols, which offer a safe and responsible road to recovery for the global Travel & Tourism sector as consumers start planning trips again. For the last few weeks, WTTC, which represents the global Travel & Tourism private sector, has been marshalling the efforts of the private sector, sharing be...
STR: U.S. Hotel Results for Week Ending 25 April
STR | April 30, 2020
HENDERSONVILLE, Tennessee—Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 19-25 April 2020, according to data from STR. In comparison with the week of 21-27 April 2019, the industry recorded the following: Occupancy: -62.2% to 26.0% Average daily rate (ADR): -42.9% to US$73.61 Revenue per available room (RevPAR): -78.4% to US$19.13 Year-over-year declines were less steep than previous weeks due to a comparison with the time of Passover in 2019. Additionally, absolute occupancy rose slightly ...
STR: Canada Hotel Results for Week Ending 25 April
STR | April 30, 2020
HENDERSONVILLE, Tennessee—Showing further COVID-19 impact, the Canadian hotel industry recorded steep year-over-year declines in the three key performance metrics during the week of 19-25 April 2020, according to data from STR. In comparison with the week of 21-27 April 2019, the industry reported the following: Occupancy: -76.9% to 15.0% Average daily rate (ADR): -32.2% to CAD101.22 Revenue per available room (RevPAR): -84.4% to CAD15.14 Among the provinces and territories, Quebec experienced one of the largest drops in occupancy (-87.7% to 7.9%), which pushed the steepest decrease in RevPAR (-91.6% to CAD8.20). Newfoun...
Hospitality Industry United for “Buy One, Give One” Campaign to Jumpstart Travel, Support Hotels and Provide Thank You to Healthcare Workers
HSMAI | April 30, 2020
NEW YORK (April 30, 2020) To help jumpstart leisure travel, the hospitality industry has united to launch Buy One, Give One, a “vacay layaway” program designed to generate immediate revenue for hotels, while simultaneously providing a “thank you” to healthcare workers who have been tirelessly working on the front lines. Available at BuyOneGiveOneStay.com through June 30, the initiative incentivizes consumers to purchase future travel now with special offers ranging from discounted stays to gift cards to loyalty points for redemption prior to travel. In return, participating hospitality brands/hotels will donate room nights, gift ca...
Commercial Real Estate Valuation in the Covid-19 Era
Prashant Das | April 30, 2020
By Prashant Das & Remy Rein Glossary REIT: Real Estate Investment Trust, a company which owns and operates real estate assets and enjoys a special tax treatment. REOC: Real Estate Operating Company which did not opt for the REIT status. NCREIF: National Council of Real Estate Investment Fiduciaries. A consortium of commercial property owners which pool their data for creating real estate performance indices and benchmarks. NPI.Lev: NCREIF Property Index after accounting for payout to lenders. When Covid-19 struck, the markets reacted. Since the beginning of 2020, REIT returns have nosedived: -60% in ret...
A Reason to Smile During the COVID-19 Pandemic
Shep Hyken | April 29, 2020
By Shep Hyken I’m going to switch up my typical customer service and experience content to share a little motivation. My buddy and fellow professional keynote speaker, Joey Coleman, is one smart dude. He made a great observation about the way people are reacting to the COVID-19 pandemic. He noticed that the quarantine and stay-at-home orders are magnifying people’s personality traits. For example, if you are an optimistic person, you may be showcasing that side of your personality more than ever. If you’re a giver, you may be exhibiting more generosity than usual by supporting—financially or any other way—healthcare workers,...
Coronavirus May Kill the Airbnb Super Host
Larry Mogelonsky | April 29, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) All of travel is taking a beating from the pandemic. None are excluded and the situation will continue to play out over the next two years as some organizations adapt while, unfortunately, others die out. Looking at the sharing economy, though, there are some interesting side effects from this crisis that might be advantageous for traditional hoteliers. Initially (late February), right as social distancing, lockdowns, flight restrictions and quarantines were being issued throughout Europe and North America, I had thought that COVID-19 would favor these alternate lodging providers. T...
During COVID-19, Economy Hotels Lead the Way in Housing Essential Workers
JLL | April 29, 2020
Economy and select-service hotels have emerged as leaders in the hotel sector, housing essential workers on the frontlines of the coronavirus pandemic while taking steps to keep guests and employees safe. First responders, such as healthcare workers, now constitute a significant portion of the demand in many hotel markets around the globe, says Geraldine Guichardo, Global Head of Research for JLL's Hotels & Hospitality Group. “Extended-stay hotels, particularly within the lower-priced segment, are seeing the most demand,” Guichardo says. In the U.S., these hotel sectors saw occupancy rates in the 40 to 45% range for the week ...
100% of Global Destinations Now Have COVID-19 Travel Restrictions, UNWTO Reports
The World Tourism Organization (UNWTO) | April 29, 2020
The COVID-19 pandemic has prompted all destinations worldwide to introduce restrictions on travel, research by the World Tourism Organization (UNWTO) has found. This represents the most severe restriction on international travel in history and no country has so far lifted restrictions introduced in response to the crisis. Following up on previous research, the latest data from the United Nations specialized agency for tourism shows that 100% of destinations now have restrictions in place. Of these, 83% have had COVID-19-related restrictions in place already for four or more weeks and, as of 20 April, so far no destination has lifted them. ...
U.S. Hotels Zapped Into Profit Shock From COVID-19
HotStats | April 29, 2020
U.S. hoteliers got their first taste of the impact of COVID-19 on hotel profit and loss in March, and the bad taste in their mouths is likely to linger for a while. Gross operating profit per available room (GOPPAR) was down 110.6% YOY to $-12.71. The triple-digit drop was by far the largest percentage decline ever recorded by HotStats since it started charting U.S. data. The previous high was -10.4% in March 2015. March 2020 also marked the first time in the HotStats database that the U.S. recorded a negative GOPPAR value. The decrease in GOPPAR was a result of gaping drops on the revenue side. RevPAR for the month was down 64.4%, heav...
STR: U.S. Hotel Profits Fell 101.7% in March
STR | April 29, 2020
BROOMFIELD, Colorado—U.S. hotel gross operating profit per available room fell 101.7% during March 2020, according to the first-ever monthly P&L data release from STR. In a year-over-year comparison with March 2019, the industry posted the following: GOPPAR: -101.7% to US$-2.10 TRevPAR: -64.0% to US$104.93 EBIDTA PAR: -116.8% to US$-15.44 LPAR (Total Labor Costs): -31.2% to US$66.16 “Our first U.S. monthly P&L release really could not have been timelier, given the unprecedented crisis the industry is facing amid the coronavirus pandemic,” said Joseph Rael, STR’s senior director of financial performance. “...
WTTC Now Estimates Over 100 Million Jobs Losses in the Travel & Tourism Sector and Alerts G20 Countries to the Scale of the Crisis
April 28, 2020
London, UK: The Travel & Tourism sector faces a staggering 100 million jobs losses due to the coronavirus pandemic, according to the World Travel & Tourism Council (WTTC). The startling figure, based on research from WTTC, has increased by over 30% in the last four weeks, indicating the sheer crisis affecting the sector. The WTTC has alerted G20 Tourism Ministers to the extent of the crisis, as they gathered by virtual conference earlier today. Of the 100.8 million jobs at risk, almost 75 million of them are in G20 countries. WTTC analysis also shows a sharp escalation in the economic loss to the world economy, up to US$2.7 t...
Nobody Asked Me, But… No. 230: Hotel History: Four Seasons Hotel
Stanley Turkel | April 28, 2020
By Stanley Turkel, CMHS Hotel History: Four Seasons Hotel, (367 rooms) Is it possible to conceive that the Four Seasons Hotel in New York has been converted to house medical professionals battling the coronavirus? In late March, the five-star Four Seasons Hotel located on East 57th Street began to accept hospital employees who work in mid-Manhattan. This I.M. Pei-designed hotel was surely the most talked-about new hotel in New York when it opened in 1993 at a cost $1 million per room. This 52-story, 367 room building with its limestone-clad lobby, 33-foot-high onyx ceiling, glowing wall sconces and original paintings provided grandeu...
