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
Operating Performance at Low Occupancy Levels
Robert Mandelbaum | April 17, 2020
By Robert Mandelbaum Since January 2020, CBRE Hotels Research has been analyzing the impact of the COVID-19 virus to understand how the societal and economic impacts of COVID-19 will influence the performance of U.S. hotels. Initial guidance came in the form of updated Hotel Horizons® forecasts of occupancy, ADR, and RevPAR for the nation’s chain-scales, location categories, and 60 major markets. Concurrently, we relied on the historical relationship between declines in RevPAR to estimate the potential decreases in profits. For example, a 20 percent decline in RevPAR for a full-service hotel during 2009 resulted, on average, in a...
STR: Canada Hotel Results for Week Ending 11 April
STR | April 16, 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 5-11 April 2020, according to data from STR. In comparison with the week of 7-13 April 2019, the industry reported the following: Occupancy: -81.2% to 12.0% Average daily rate (ADR): -33.8% to CAD101.34 Revenue per available room (RevPAR): -87.6% to CAD12.17 Among the provinces and territories, Quebec experienced the largest drop in occupancy (-90.5% to 6.2%), which resulted in the steepest decrease in RevPAR (-93.8% to CAD6.38). Ontario repo...
5 Questions a Good Manager Should Ask Him/Herself While Managing a Team Remotely
Lucile Muller | April 16, 2020
By Lucile Muller As a result of the COVID-19 outbreak, companies and universities around the world have suddenly been forced to adopt home office measures for their employees wherever possible. It is true that over the last decades, the digitalization of our economies has made virtual work environment possible but realistically-speaking, only a few companies have been actively promoting it among their employees. Indeed, for most companies the road toward digitalization was perceived as a long and difficult journey demanding time and preparation. Only the most pessimistic ones would have imagined such a brutal transition. Today, even the...
Hotel Operations in the COVID Era
Ajay Mehtani | April 16, 2020
By Ajay Mehtani and Dipti Mohan Social distancing has become a norm in today’s COVID-19 world and hotels need to re-evaluate and update their SOPs to adapt to this change. HVS has prepared this document to help hoteliers in the planning process regarding the formulation of SOPs on how to operate their hotels once the lockdown has been lifted. We strongly recommend that hotels always follow the guidelines provided by the Health Department and the state and central Government, including guidelines on maintaining records etc. based on local authority requirements, to formulate their SOPs. The first step is to make a Guest Booklet or C...
#FirstRespondersFirst and IHG® Hotels & Resorts Partner to House Frontline COVID-19 Teams Nationwide
IHG | April 16, 2020
#FirstRespondersFirst today announced IHG Hotels & Resorts as a nationwide hospitality partner, providing free accommodation at hotels across the United States for frontline COVID-19 first responders. While most of the nation’s residents are encouraged to shelter in place, first responders, ranging from physicians and nurses to home-care workers, social workers, and beyond, are in the field providing critical care during this global emergency, putting the needs of others above themselves and often their families. #FirstRespondersFirst helps provide essential protective equipment, accommodations, child care, food, mental health suppor...
sbe Starts Hiring of 1,000 New Team Members for C3 Amid COVID-19
C3 | April 16, 2020
Sam Nazarian to Commence Recruitment Immediately to Staff 138 Ghost Kitchens Opening by End of 2020 Nazarian will Prioritize Employees Furloughed at Other Restaurants and Properties Due to COVID-19 MIAMI, April 16, 2020 -- Sam Nazarian, Founder and CEO of sbe, the leading lifestyle hospitality company that develops, manages and operates award-winning global brands, today announced that recruitment has begun for 1,000 newly-created positions across the country for sbe's C3 (Creating Culinary Communities) subsidiary. As part of the opening of [food halls] and 138 ghost kitchens before the end of the year, C3 is hiring across the entire organi...
IDeaS Provides Ongoing Client Support and Hotel Industry Guidance During COVID-19 Crisis With New Podcast and Webinar Series
IDeaS | April 16, 2020
IDeaS produces new podcast season and webinar series in effort to provide insights and unite the global hospitality community during these challenging times Tweet This: @IDeaS_RevOpt launches a podcast that takes an intimate look at how hotels are managing and coping with the COVID-19 outbreak as well as a webinar series helping clients manage their IDeaS solutions in response to business impacts. www.ideas.com/news #rev MINNEAPOLIS—April 16, 2020—IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, launched today a special Unconstrained Conversations podcast season taking an intimate ...
Thermal Imaging and Its Potential Effect on The Travel and Hospitality Sector
Alan E. Young | April 16, 2020
By Alan Young These days, you can’t help but notice that virtually every COVID-19 news clip has repeatedly depicted a person being screened for fever using some device that looks like it is from Star Trek. The use of the non-contact handheld infra-red thermometer has become, somewhat disturbingly, commonplace. So does this mean our ‘new normal’ will include the frequent practice of our temperatures being monitored via these portable infrared devices wherever we go? Or scarier yet - will it become necessary to scan entire crowds through the use of thermal imaging? Right now, of course, this is only speculation, but signs are pointi...
U.S. Travel Association Announces Cancellation of IPW 2020
The U.S. Travel Association | April 16, 2020
WASHINGTON (April 16, 2020)—U.S. Travel Association President and CEO Roger Dow issued the following statement: "Following a thorough decision-making process in which we explored every viable option to proceed this year, we are saddened to announce that IPW 2020 is cancelled. "The circumstances surrounding the coronavirus pandemic—including global travel restrictions, flight reductions, mandated social distancing, and stay-at-home orders both in the U.S. and abroad—have made this year's event impossible to execute. "We will be providing updates to IPW delegates next week on the process for credits and refunds for the investment...
Hospitality Industry Organization, Golden Rule Charity, Launches Multimillion-Dollar Fundraising Initiative to Help Those Affected by COVID-19 Busines
Golden Rule Charity | April 16, 2020
National organization mobilizes to deliver timely resources for those facing unexpected and unprecedented hardship SAN DIEGO, April 16, 2020 -- Golden Rule Charity, a national organization uniquely focused on delivering resources to qualified hospitality companies and employees in times of need, is launching a bold new fundraising effort to respond to the extraordinary challenges of those impacted by COVID-19. All donations will support the nonprofit's grant program, which awards applicants who currently work full or part time and have been employed in the industry a minimum of 6 months and meet additional criteria. "Members of our har...
STR: U.S. Hotel Results for Week Ending 11 April
STR | April 15, 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 5-11 April 2020, according to data from STR. In comparison with the week of 7-13 April 2019, the industry recorded the following: Occupancy: -69.8% to 21.0% Average daily rate (ADR): -45.6% to US$74.18 Revenue per available room (RevPAR): -83.6% to US$15.61 “There was not much of a change from last week. As we’ve noted, RevPAR declines of this severity are our temporary new normal,” said Jan Freitag, STR’s seni...
The Impact of COVID-19 on Hotel Values
Anne R. Lloyd-Jones | April 15, 2020
By Anne R. Lloyd-Jones, Suzanne R. Mellen, Tanya J. Pierson The COVID-19 pandemic and the related restrictions on travel, business activity, and individual movement are having an unprecedented impact on our industry and economy. Hotel owners, operators, lenders, and investors are all facing greater challenges than ever anticipated, as they grapple with plummeting occupancy, average rate (ADR), and RevPAR and seek solutions to mitigate the impact on EBITDA. Owners and operators are dealing with the current crisis day-to-day, making hard decisions regarding staffing, continuing or suspending operations, and having difficult conversations w...
Ten Step Rx for the Hotel Pandemic
Larry Mogelonsky | April 15, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) COVID-19 dominates the airwaves, newspapers, internet and our lives. It’s time for us to start strategizing and planning for reopening, even though the timetable is uncertain at this point. The reality is that it is not business as usual and it may not be for the next few years. There will be challenges ahead. For this, it is almost equivalent of a completely new hotel launch insofar as growing product awareness and staffing. Best to under promise and over deliver. I’ve put together this basic rubric for your approach. The task is daunting and naturally will vary based upon t...
Knowland Extends Platform With Premium Contact Data to Help Hoteliers Prepare and Reignite Sales Teams for Recovery
Knowland | April 15, 2020
Leader in hotel group insights & analytics adds key intelligence to help its customers build relationships that will drive revenue rebound post-COVID-19 WASHINGTON, DC. — April 15, 2020 — Knowland announced today the release of Premium Contact Data (PCD), an add-on to its subscription-based hotel group sales software platform providing verified contact data with event booking history. As the leader in hospitality group business analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues, the company provides comprehensive group data intelligence to drive higher revenue and provide greater val...
Maestro PMS Recognizes Hoteliers That Stand Up to CV-19. Community Donations Cover Over 1000 Room Nights for Health Care Heroes
Maestro PMS | April 15, 2020
Hotel Companies Ready to Help; Provide Rooms for Front-Line Medical Staff and First Responders April 15, 2020 – These are unprecedented times for our industry. Operators are facing business challenges beyond their control. Nevertheless, many operators and hotel companies are putting the true meaning of ‘hospitality’ into action. Hundreds of operators with dozens of brands are making their properties and facilities available for use by medical personnel and first responders. Maestro’s team is proud to be associated with many of these hoteliers who are giving back to their communities by opening their doors during this difficult time...
Best Western® Hotels & Resorts Rolls Out Support Package for Front Line Workers
Best Western Hotels & Resorts | April 14, 2020
Phoenix, Arizona (April 14, 2020) – Best Western Hotels & Resorts (BWHR) has launched a support package designed to offer a helping hand to front line workers during the COVID-19 pandemic. The package includes a discounted rate at participating BWHR-branded hotels, a custom loyalty offering for essential workers and expanded donation offerings supporting COVID-19 relief efforts. “Each and every day we see essential workers, from healthcare providers and first responders to transportation workers and infrastructure professionals, putting their own health at risk to lead the fight against the COVID-19 pandemic,” said David Kong, Pr...
Hyatt Launches Hyatt Care Fund to Provide Financial Relief to Global Colleagues
April 14, 2020
CHICAGO (April 14, 2020) - The COVID-19 pandemic has impacted the hospitality industry around the world, leading to temporary leaves or significantly reduced work schedules for many members of the global Hyatt family. In a focused effort to help the colleagues who are most financially impacted by COVID-19, Hyatt has today announced the launch of the Hyatt Care Fund. The Hyatt Care Fund is a program designed to support colleagues with the most pressing financial needs due to COVID-19, through a series of coordinated efforts around the world. Impacted Hyatt colleagues in owned, managed and franchised hotels and in Hyatt’s corporate offices...
Marriott International Announces New $1.5 Billion 364-Day Revolving Credit Facility Commitment and Leverage Covenant Waiver for Existing Revolving Cre
Marriott International, Inc. | April 14, 2020
Marriott International, Inc. (NASDAQ: MAR) today provided the following business update amidst the rapidly evolving Coronavirus (“COVID-19”) situation. New $1.5 Billion 364-Day Revolving Credit Facility Commitment and Leverage Covenant Waiver for Existing Revolving Credit Facility On April 13, 2020, Marriott International, Inc. (“Marriott” or “the company”) entered into a commitment letter (the “Commitment Letter”) providing for a 364-day senior unsecured revolving credit facility in an aggregate principal amount of $1.5 billion (the “364-Day Credit Facility”). The Commitment Letter provides that the available aggreg...
IHG® Taskforce Responds to Government Relief Efforts Across Europe
IHG | April 14, 2020
IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, is offering support through its taskforce to the Government, local authorities, municipalities and health care institutions in their efforts to prevent the further spread of Covid-19. This can cover a variety of scenarios, including hosting key government workers, medical staff and other groups in need for emergency accommodation. IHG has seen a rise in requests from government bodies and public institutions during this difficult time for communities across Europe. Through its dedicated taskforce IHG is responding to these requests, learning from relief ...
Revenue Management Needs to Go Beyond Pricing
Dr. Gabor Forgacs | April 14, 2020
By Dr. Gabor Forgacs This abrupt halt in travel caused by the current pandemic is not going to last forever but it will last long enough to shake the foundations of the global accommodation industry. The unprecedented loss of revenue will not return instantly to pre-pandemic levels to hotels. It would be a mistake to think that the sudden stop in revenue flow will one day suddenly restart and go full tilt again. Revenue professionals who focus mostly on tactical price control will have to broaden their horizon in the future when travel resumes as business may not be as usual once the COVID-19 pandemic gets behind us. After the economy g...
The Curve Has Flattened; What Does the “Interim Normal” Mean for Hotel Operations?
Karen Johnson | April 14, 2020
By Karen Johnson Though the arc of people with confirmed cases of Covid-19 is going up as more individuals are tested, the curve of the average daily death toll appears to have flattened. Which indicates that the act of social distancing will keep our ICU capacity from being overwhelmed as it was in Hunan and Italy. We can only hope. Assuming the US can get enough testing capacity to determine the true infection and mortality percentages, and plans are devised to move equipment where it is needed, things could get back to the “new normal” or at least an “interim normal” fairly soon. There is much speculation as to when we...
PhoneSuite Selects the Clairvoyix Rapid Recovery Response – R3© Email Solution for Important Client Communications
PhoneSuite | April 14, 2020
Hospitality industry’s leading enterprise class marketing automation company partners with PhoneSuite, the premier provider of communication technology to the hospitality industry. LAS VEGAS, NV (April 14, 2020) – Clairvoyix, the leader in enterprise class, hospitality-specific marketing automation, announces their Rapid Recovery Response – R3© solution has been selected by PhoneSuite to provide time sensitive communications to their customers and prospects. PhoneSuite recognizes that hoteliers are faced with unprecedented challenges during the pandemic crisis, including the need to cut expenses without cutting mission critical oper...
Your Brand Culture & Leadership Are Being Defined Right NOW
Renie Cavallari | April 14, 2020
It is times like these that our leadership and the truth about our brand culture are defined. No more hiding behind pretty posters or fluffy pretending. Game on! By Renie Cavallari It is times like these that our leadership and the truth about our brand culture are defined. No more hiding behind pretty posters or fluffy pretending. Game on! As Mark Cuban recently said: “How companies respond to coronavirus will define their brand for decades…” We have all experienced challenging times in the past and what they all have in common is that people need leaders to shine the light so they feel confident that their leaders have a p...
HTNG and Hospitality Upgrade Launch New Career Center Portal to Serve the Rapidly Evolving Hospitality Job Market
HTNG | April 14, 2020
CHICAGO (April 14, 2020) - Hospitality Technology Next Generation (HTNG) and Hospitality Upgrade today jointly announce the launch of the HTNG Career Center, a premier, industry-exclusive job portal designed to connect qualified hospitality professionals with potential employers, and provide a wide range of helpful career and recruiting resources to the hospitality market. The HTNG Career Center is being launched at a critical point in the history of hospitality, as the industry reacts to dramatic new market conditions brought on by the global Coronavirus (COVID-19) pandemic that has produced widespread employee layoffs, furloughs and ot...
