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
Making Painful Chargebacks a Thing of the Past
Larry Mogelonsky | April 22, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) In a socially distanced world, one thing we are already seeing is far fewer in-person credit card transactions because people aren’t out and about nearly as much. A lot of that traffic has moved online while some of it has shifted towards other types of less secure, card-not-present dealings like taking down a guest’s information over the phone. During this downtime we all find ourselves in, now is your chance to implement the necessary updates to ensure your payment channels are as secure as possible, while also reducing chargebacks wherein the credit card companies usually don...
Further Insights on What Hoteliers Can Do to Prepare for COVID-19 Recovery
Pierre Verbeke | April 22, 2020
By Pierre Verbeke In the previous article, I mentioned some thoughts on the position of hoteliers and restaurateurs in regards to this unprecedented crisis that the industry is facing. Now is the time to prepare and start some of the activities and conversations that might help for when things are picking up again. Have you considered all the support possibilities that the government and other official bodies have at your disposal? In some countries, you may get a lump sum to cover a part of the costs. In others, there are measures in place for continued payment of employees, up to a degree, so that you do not immediately need to seve...
Transition Technology for Hospitality – From Clean to Cleaner
Frank Wolfe | April 22, 2020
By Frank Wolfe Do you remember where you were when COVID-19 changed the world? Although it was not until several hours later that it dawned on me that it happened, I was at the Dubai International Airport. It was the typical hurry, bump and for some, shove, of any airport. As I boarded the tram, I was surrounded by a plane full of passengers departing for Iran at a gate close to mine. We were packed in a crowded train car and some were coughing, sneezing and sweating due to the temperature. After arriving at home, the next day’s headline was about all the horrible cases of COVID-19 in Iran. That was how it all became real for me…Februa...
How COVID-19 Has Affected Intentions to Travel and Perceptions in Key Global Markets
STR | April 22, 2020
COVID-19’s impact on consumer opinion and behavior seemed to evolve daily throughout March, especially with the World Health Organization (WHO) declaring a global pandemic on the 11th. To understand the effects on sentiment and future international travel plans, STR captured the views of travelers across 4 key markets: the U.S., Canada, U.K. and Australia. These four English-speaking markets make up a significant portion of global tourism receipts—20% or US$338 billion. Given these countries’ importance in the global travel industry—collectively, they account for some 462 million consumers—we examined March 2020 reactions to the ...
STR: U.S. Hotel Performance for Q1 2020
STR | April 22, 2020
HENDERSONVILLE, Tennessee—Affected late in the first quarter by the COVID-19 pandemic, the U.S. hotel industry reported significant declines in the three key performance metrics during Q1 2020, according to data from STR. In a year-over-year comparison with Q1 2019, the industry posted the following: Occupancy: -15.9% to 51.8% Average daily rate (ADR): -4.0% to US$123.76 Revenue per available room (RevPAR): -19.3% to US$64.14 The absolute occupancy level was the lowest for the industry since the time of the global financial crisis in Q1 2009. The year-over-year decline in the metric was the worst for any quarter on record. ...
Access Point Financial Launches “Navigating Hospitality Finance 2020” Information Resource for Hoteliers Facing Changing Market Conditions
Access Point Financial | April 22, 2020
Recognized hospitality lender addresses the rapidly evolving financial landscape with new blog series to provide best practices for hotel industry stakeholders ATLANTA - April 22, 2020 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the debut of a new online resource entitled, “Navigating Hospitality Finance 2020,” which will appear within the Access ViewPoint blog beginning today. The informative four-part series is intended to help hotel owners and investors with an interest in hospitality to plan their best financial strateg...
COVID-19 Hotel Recovery Strategy: Top 10 Ways to Prepare Your Hotel for the Rebound in Travel Demand
Margaret Mastrogiacomo | April 21, 2020
By Margaret Mastrogiacomo As Coronavirus (COVID-19) continues to impact travel globally, it is important to observe industry forecasts and trends that will ultimately shape your recovery strategy as hotels begin to plan for the initial rebound in travel demand. According to a special forecast from STR and Tourism Economics, due to the COVID-19 outbreak, the hotel industry is projected to report significant declines across demand, occupancy, ADR, and revenue per available room (RevPAR) in 2020. While travel has come to a virtual standstill due to the COVID-19 outbreak, the market is expected to regain its footing in the latter part of th...
Unlocking Sustainable Strategic Renewal After Covid-19: Opportunities for Hospitality
Carlos Martin-Rios | April 21, 2020
By Carlos Martin-Rios Many nations, companies and individuals were still reeling from the negative effects of the financial crash that began in 2007, when Covid-19 struck affecting many economies, especially those related to the service industries. Tourism and hospitality are often among the first and hardest hit by turmoil. Families refrain from making superficial expenses. Corporations slash travel expenses. Long-haul tourism shrinks and gives way to short-haul destinations, if any. Most consumers become savvier spenders and turn away from high-end services (upscale hotels, cruises, personal shoppers, club memberships and other positiona...
STR: U.S. Hotel Performance for March 2020
STR | April 21, 2020
HENDERSONVILLE, Tennessee—In its first month with a visible impact from the COVID-19 pandemic, the U.S. hotel industry reported double-digit declines in the three key performance metrics during March 2020, according to data from STR. In a year-over-year comparison with March 2019, the industry posted the following: Occupancy: -42.3% to 39.4% Average daily rate (ADR): -16.5% to US$110.66 Revenue per available room (RevPAR): -51.9% to US$43.54 Among the Top 25 Markets, San Francisco/San Mateo, California, experienced the steepest drop in occupancy (-62.2% to 30.2%), which resulted in the largest decrease in RevPAR (-72.3% to ...
Marriott Launches Global Cleanliness Council to Promote Higher Standards of Cleanliness in the Age of COVID-19
Marriott International, Inc. | April 21, 2020
Marriott International (NASDAQ: MAR), which for 92 years has been recognized as a hospitality leader for its commitment to quality, exacting standards, and rigorous training, announced today that it will be rolling out a multi-pronged platform to elevate its cleanliness standards and hospitality norms and behaviors to meet the new health and safety challenges presented by the current pandemic environment. “We are living in a new age, with COVID-19 front and center for our guests and our associates,” said Arne Sorenson, President and Chief Executive Officer, Marriott International. “We are grateful for the trust our guests have shown ...
Kennedy Training Network Announces Two New Hotel Sales Team Programs, Delivered Live Via Webcam, to Prepare for a New Sales Habitat
Kennedy Training Network | April 20, 2020
Hotel sales has truly been a seller’s market for a very long time; 10-year veterans have never experienced selling in a recession, while veterans are out of practice at prospecting. Until recently, at most hotels the biggest challenges have been keeping up with the flood of inbound RFP’s, as third-party meeting and event planning websites made it too easy to request a proposal. Smart sales leaders will wisely use the current lull in sales activity to upskill their teams for what is sure to be a buyer’s market for the near future. This week, KTN is introducing two hotel sales training programs, personally delivered live on webcam by K...
Latest Analysis: Coronavirus Impact on Travel 9x Worse than 9/11
The U.S. Travel Association | April 20, 2020
WASHINGTON (April 20, 2020)—The travel industry has lost a full third of all the jobs lost in the U.S. and is experiencing a total impact from coronavirus that is nine times greater than the 9/11 attacks, according to new data released by the U.S. Travel Association and the analytics firm Tourism Economics. By the end of April, declines in travel will cause eight million jobs to be lost out of approximately 24 million for the entire U.S. economy, according to the report. Travel spending losses are on track to top half a trillion dollars by the end of 2020. "The CARES Act was a good start, but the data shows there is still extreme and ...
How Hospitality and Retail Businesses Can Survive the Coronavirus Shutdown
René-Ojas Woltering | April 20, 2020
By René-Ojas Woltering Policy makers around the world have enforced an unprecedented shutdown of public life to slow down the spread of the coronavirus. As a consequence, entire sectors of the economy have seen their revenues collapse to zero. At the time of this publication, it appears that the shutdown will be a matter of months rather than just a few weeks. Yet, to date, no coherent political-economic strategy exists on how businesses may potentially survive a prolonged period without any revenues. Many hospitality and retail businesses are about to be sacrificed in the name of public health. A wave of insolvencies would cause irrev...
Impact of COVID-19 on Los Angeles & Southern California Hotel Markets
Luigi Major | April 20, 2020
By Luigi Major Since December 2019, outbreaks of coronavirus (COVID-19) have led to global economic disruptions as cities and countries attempt to slow the spread of the disease by implementing lockdowns and social distancing measures. At the time of publishing this article, the number of cases in the United States and California exceeded 680,000 and 28,000, respectively. The federal government, along with state and local governments, has implemented restrictions to slow the spread of the disease, including stay-at-home or shelter-in-place orders. Major events have been canceled, and travel has been curtailed to “essential business” on...
Credit Card Processing Best Practices During COVID-19 and Other Challenging Times
POST Integrations | April 20, 2020
By Juli Barter As the world continues to navigate the COVID-19 pandemic, the hotel industry continues to feel its effects. As a trusted hospitality payments provider, POST Integrations is providing the following credit card acceptance best practices to help guide you and your properties through these uncertain times. Below are the key areas to understand and be aware of during this time. CANCELLATIONS/PREPAID RESERVATION AND ADVANCE DEPOSIT CREDITS If your property requires an advance deposit or offers prepaid reservations for guest stays, no doubt your team is dealing with an increased request for cancellations during this time...
Riegel Linen Pivoting From Hospitality to Healthcare Amidst Coronavirus Pandemic
Lion Equity Partners | April 20, 2020
Hospitality’s leading textile provider is now manufacturing masks for existing customers as well as new ones; Riegel Linen donates masks to University of South Carolina Aiken International Students and the UofSC Aiken Police Department AIKEN, S.C.— APRIL 20, 2020 — To do its part amidst the coronavirus pandemic, Riegel Linen is now manufacturing masks in addition to surgical towels, sheeting and mattress pads for existing and new customers. Known nationwide for its quality sheeting, terry, and table linen products for hotels and restaurants, the hospitality textile manufacturer is also helping the local community. As part of its n...
Beekeeper Continues COVID-19 Webinar Series: ‘Communicating With Furloughed Employees —Getting It Right’ on Thursday, April 23
Beekeeper | April 20, 2020
Led by the Director of the Cornell Institute for Hospitality Labor and Employment Relations, participants from Marriott International, Jones Day, and Beekeeper will discuss how to best communicate with a remote workforce and prepare them for success when things start to turn around. San Francisco, April 20, 2020 — How do furloughed employees stay in the know with what is going on at the hotel? How are hoteliers communicating unemployment insurance benefits? What will happen when things start to turn around and properties need to begin planning for reopening? On Thursday, Beekeeper, a mobile-first communication platform for ...
HVS Hotel Transaction Activity: The Factors Influencing a Return to Normalcy in a Post-COVID-19 Time
Drew Noecker | April 17, 2020
By Drew Noecker As a result of the current COVID-19 pandemic, the HVS Team has received many questions about when U.S. hotel transaction volume will return to reasonable, pre-pandemic levels. While we do not have a definite answer, as this circumstances are evolving daily, we have tried to use past events to provide some insight on the factors that would affect a possible rebound. April 14, 2020 – Updated Transaction Data Source: Real Capital Analytics, 4/14/2020 | www.rcanalytics.com In line with the table above, we see the anticipated volume declining because of COVID-19. The year-over-year individual property transaction volume ...
COVID-19 Response: 96% of Global Destinations Impose Travel Restrictions, UNWTO Reports
The World Tourism Organization (UNWTO) | April 17, 2020
The scale of disruption caused by COVID-19 to global tourism is shown in a comprehensive new report on travel restrictions from the World Tourism Organization (UNWTO). The landmark report, published at a time of unprecedented disruption for the sector, shows that almost all global destinations have imposed restrictions on travel since January 2020, including complete bans on all travel as they work to contain the pandemic. Over recent years, as the United Nations specialized agency for tourism, UNWTO has been regularly monitoring travel facilitation and observing a continuous trend towards more openness. COVID-19 has dramatically interrupt...
Easy to Use Key Points for Independent Hotels During the Current Pandemic
Paloma Guerra | April 17, 2020
By Paloma Guerra & Alex Sogno In Europe, we have seen that the large hotel operating companies have been as supportive as possible to their hotel teams, providing profit protection plans, business continuity plans and other useful guidance. This article is for independent hotels, which represent a large segment of our industry in Europe. Whether your hotel is closed or remains open, please see the strategies and tools below on how to deal with the current crisis. “Barbam propinqui radere, heus, cum videris, prabe lavandos barbula prudens pilos”, (roughly translated as “If you want to make peace, prepare for war”). This Latin ...
IHG Launches Global Effort to Feed Local Communities in Response to Covid-19 Pandemic
IHG | April 17, 2020
With hotels in thousands of communities around the world, together with our colleagues, owners and partners, we are working to be part of the relief effort. Today, we are extending our programme for communities and charitable giving, True Hospitality for Good, by committing funding and support to be there for our local communities where they are most vulnerable. Helping to protect and enhance food bank infrastructure and services in more than 70 countries, IHG’s partners include ‘No Kid Hungry’ in the US, ‘Trussell Trust’ in the UK, the ‘Global Foodbanking Network’ (GFN) and the ‘European Food Banks Federation’ (FEBA). To...
HVS COVID-19 Impact on Lodging Tax Revenues
Thomas Hazinski | April 17, 2020
By Thomas A. Hazinski & Joseph Hansel HVS modeled the anticipated RevPAR declines during the COVID-19 pandemic. Based on patterns of recovery following the two most recent recessions, we projected the lodging tax revenues of 24 urban markets in the United States. Comparing these projections to a baseline scenario without the pandemic, HVS estimates combined losses of 24 major U.S. markets could range from $4.0 to $5.5 billion of lodging tax revenues. Lodging tax losses of this magnitude will force bondholders, destination marketing organizations, and other stakeholders to consider steps such as debt refinancing or seeking alternati...
80-Plus House Members Urge Relief for Destination Marketing Organizations
U.S. Travel Association | April 17, 2020
WASHINGTON (April 17, 2020)—More than 80 U.S. House members from both sides of the political aisle have signed onto a letter urging congressional leaders to provide relief for destination marketing organizations (DMOs) whose funding has been crippled by the coronavirus crisis. Despite their pivotal contributions to local and regional travel economies, many DMOs were unintentionally left ineligible for coronavirus relief funding under the Paycheck Protection Program (PPP) because of their non-profit or quasi-governmental status. The U.S. Travel Association has been working with Congress to correct the problem, since DMOs will be vital ...
Duetto Launches Free Market Demand Report for Hoteliers
Duetto | April 17, 2020
New Pulse Report will help industry anticipate and plan for recovery San Francisco, April 17, 2020 — Duetto, hospitality's innovative software as a service provider of revenue strategy solutions has launched the Duetto Pulse Report, a free, data-driven analysis of key metrics including bookings, cancellations and website traffic in the US, Europe, and Asia Pacific. Built by Duetto’s team of revenue experts and analysts, the Duetto Pulse Report provides a bi-weekly analysis of market demand from hotels using the Duetto platform. It is available as a free tool for all hoteliers around the world. “Duetto is committed to providing ...
