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
The Hospitality Way of Survival After Covid-19 Crisis
Yutong MENG | April 2, 2020
By Yutong MENG The sudden outbreak of Covid-19 (unofficially called Coronavirus) crisis swept through Chinese Lunar New Year like a hurricane, adding a layer of panic and depression to the hospitality industry which was supposed to be busy and prosperous. According to STR, the average occupancy rate in mainland China began to decline significantly and continuously from January 14, falling from the peak 70% to less than 10%, and currently stable between 5% and 10%. Compared to an average occupancy of 55% in previous Chinese Lunar New Years, the Covid-19 epidemic has caused great trauma to the hospitality industry in China. Meanwhile, ...
Is Your Business Hard-Wired for Panic or Innovation?
James Houran, Ph.D., Dallas | April 2, 2020
By: James Houran, Ph.D., Dallas | Keith Kefgen, New York The COVID-19 pandemic has now become the most disruptive event in our lifetime. Understandably, virtually all organizations are bogged down in “immediate” decision-making. It is all tactical right now, because there is no place to run and no place to hide; there is no safe haven. But once the immediate circumstances settle, will your organization be hard-wired for panic or innovation? This pandemic offers two critical lessons for leadership thinking. First, psychologists have often emphasized mindfulness to a purpose. Living in the present moment, and nonjudgmentally as an app...
HFTP Presents “Best of HFTP” With Co-Located Events in October 2020, Including HITEC San Antonio, HFTP Annual Convention, Club Forum and Entrepren
HFTP | April 2, 2020
The hospitality association has rescheduled its 2020 events for Fall to accommodate for current social distancing measures. The events will run the week of October 26-29 at the Henry B. Gonzalez Convention Center in San Antonio, Texas USA. 2 April 2020 In response to the guidance for slowing the spread of Covid-19, Hospitality Financial and Technology Professionals (HFTP®) restructured its 2020 event calendar, moving early 2020 events to the second half of the year, and co-locating them for one eventful week. First it rescheduled the North American Hospitality Industry Technology Exposition and Conference (HITEC®) to October 26-29, 2020...
STR: Preliminary Caribbean Hotel Results for Week Ending 28 March
STR | April 2, 2020
Note: To inform the industry during the COVID-19 pandemic, STR will temporarily publish weekly communication for the Caribbean based on preliminary data. This preliminary data represents a percentage of STR’s total sample for the region. Once monthly processing is complete, data points will likely appear different. The Caribbean hotel industry experienced its steepest year-over-year declines yet in the three key performance metrics during the week of 22-28 March 2020, according to preliminary data from STR. In comparison with the week of 24-30 March 2019, the Caribbean reported the following: Occupancy: -85.9% to 10.6% Average...
STR: Preliminary Mexico Hotel Results for Week Ending 28 March
STR | April 2, 2020
Note: To inform the industry during the COVID-19 pandemic, STR will temporarily publish weekly communication for Mexico based on preliminary data. This preliminary data represents a percentage of STR’s total sample for the region. Once monthly processing is complete, data points will likely appear different. Mexico’s hotel industry showed its sharpest reaction yet in the face of the COVID-19 pandemic with deep year-over-year declines in the three key performance metrics during the week of 22-28 March 2020, according to preliminary data from STR. In comparison with the week of 24-30 March 2019, Mexico hotels reported the following: ...
STR: Mainland China Hotel Industry Shows Early Signs of Performance Recovery
STR | April 2, 2020
BEIJING—Mainland China’s daily hotel occupancy reached an absolute level of 31.8% on 28 March, up from a low of 7.4% during the first week of February, according to preliminary data from STR. Additionally, opening rates have been significant in key markets across the region. “We’re seeing green shoots in hotel occupancy figures, but we must stress that these are only early signs of a recovery that is likely to develop slowly,” said Christine Liu, STR’s regional manager for North Asia. “Some of the demand stems from corporate travel, primarily within the same province, as well as small-scale meetings. Additionally, hotels are ...
LEGOLAND® New York Resort Will Open In 2021 In Response To Coronavirus
Merlin Entertainments | April 1, 2020
GOSHEN, N.Y., April 1, 2020 - In adherence to the guidance of the Centers for Disease Control and Prevention and evolving restrictions from state and local governments in response to the coronavirus pandemic, LEGOLAND® New York Resort and parent company Merlin Entertainments regret to announce the postponement of the Resort opening until 2021. The measure is consistent with the closure of venues and postponement of events worldwide. "Nothing is more important to us than the health, safety and security of our team, the partners we work with, and the communities we serve," said LEGOLAND New York Resort Divisional Director Stephanie Johns...
Xenia Hotels & Resorts Provides Update on Transactions and Operations
Xenia Hotels & Resorts, Inc. | April 1, 2020
ORLANDO, Fla., April 1, 2020 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today provided an update on pending transactions, as well as an update on the impact of COVID-19 on its operations. On February 24, 2020, Xenia announced that it had entered into an agreement to sell the 492-room Renaissance Austin Hotel for $100.5 million, with an anticipated closing date during the first quarter of 2020. Subsequent to the announcement, the parties entered into an amendment to the agreement that extended the closing until April 16, 2020 and authorized the release of the $2 million deposit held in escrow to the Compan...
Think Staycations and Cleanliness Theater for COVID Travel
Larry Mogelonsky | April 1, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) There are two terms to mull over for how the travel will change in the near future and both relate to the heightened sense of agoraphobia and fear of unhygienic spaces. And those hotels that are able to figure out these two terms apply in a post-COVID world will indeed see their occupancies return. First to understand is the fear instilled in people’s minds from all this panic that will linger for long after the all clear is given. Call it ‘post coronavirus stress disorder’ (PCSD). What this means is that your newly adopted hygiene standards put in place to address COVID-19 wi...
U.S. Hotels: Changes in RevPAR and Profits During Historical Recessions
Robert Mandelbaum | April 1, 2020
By Robert Mandelbaum The U.S. lodging industry was prepared for a slowdown in performance entering 2020. CBRE Hotels Research was projecting a 1.1 percent increase in RevPAR for the year. Even with this low level of revenue growth, there were certain factors that could have sustained - or at least cushioned the blow of minimal declines - the nine-year trend of profit growth for U.S. hotels since 2010. We are in a low inflation period, which keeps the cost of goods and services low. Recent changes to food and beverage operations and marketing practices have helped to lower fixed costs. There is no energy crisis, so utility co...
UNWTO Launches a Call for Action for Tourism’s COVID-19 Mitigation and Recovery
the Global Tourism Crisis Committee | April 1, 2020
The World Tourism Organization (UNWTO) has released a set of recommendations calling for urgent and strong support to help the global tourism sector not only recover from the unprecedented challenge of COVID-19 but to ‘grow back better’. The Recommendations are the first output of the Global Tourism Crisis Committee, established by UNWTO with high-level representatives from across the tourism sector and from within the wider United Nations system. Recognizing that tourism and transport has been among the hardest hit of all sectors, the Recommendations are designed to support governments, the private sector and the international community...
To Lead in Times of Crisis, One Must Be Equal Parts Realist, Pragmatist and Optimist
Keith Kefgen | April 1, 2020
By: Keith Kefgen As an evaluator of leadership capability, I have been asked what it takes to lead in a time of crisis, such as COVID-19. My answer has been simple, “you must be equal parts realist, pragmatist and optimist. This mixture of archetypes is essential in dealing with the fast moving and unknown outcomes of a crisis. Realist. a person who accepts a situation as it is and is prepared to deal with it accordingly. To face a situation that is as complex as COVID, fact finding is critical. Like a complex puzzle, getting started in the known areas is a good start (start in the corners). Ask for help in areas that are unknown a...
Las Vegas Sands to Donate More than Two Million Pieces of Personal Protection Equipment
Las Vegas Sands Corp. | April 1, 2020
LAS VEGAS, April 1, 2020 -- Las Vegas Sands (NYSE: LVS) today announced it will donate two million medical masks and 20,000 protective suits to help health-care professionals, first responders and nonprofit organizations in the fight against the coronavirus pandemic. Medical mask donations will be distributed in the company's corporate headquarters of Nevada as well as New York, which has become the epicenter of the coronavirus outbreak in the United States. Each state will receive one million masks. The 20,000 protective suits will be donated to hospitals and first responders in Nevada. "Hopefully our donations will help protect peopl...
Hotels Are Right to Prioritize Loyalty Schemes Over Rate Reductions During and After COVID-19 Pandemic, Says GlobalData
GlobalData | April 1, 2020
Major players in the hotel industry are using loyalty schemes in order to create value for their customer base and increase demand during and after the coronavirus (COVID-19) pandemic. Ralph Hollister, Analyst, Travel & Tourism at GlobalData, offers his view: “Instead of advertising future room rates at discounted prices, offering perks through loyalty schemes means that hotels can protect their pricing and margin strategies. “Providing added value instead of price reductions such as offering reward extensions, as Hilton have done, or following IHG’s lead and lowering the entry requirements for their next loyalty tier, shou...
Hotel Industry Foundation Announces Free Training, Education Courses for Hotel Employees
The AHLA Foundation | April 1, 2020
WASHINGTON, D.C. (April 1, 2020) – In an effort to support the 8 million hotel industry employees affected by this unprecedented public health crisis, the American Hotel & Lodging Foundation (AHLA Foundation), the charitable giving arm of the American Hotel & Lodging Association (AHLA), today announced free resources to help industry employees continue their education during this difficult time. As part of AHLA’s Hospitality for Hope Initiative, the AHLA Foundation will provide: Free hospitality management online courses Professional development scholarships for AHLA certifications Continuing education online progra...
COVID-19 and Hospitality: Why Attracting Millennial Travelers Is Essential to Your Hotel’s Recovery Plan
Nicole Dehler | April 1, 2020
By Nicki Dehler "This too shall pass" is a sentiment that surely everyone can take comfort in right now, and one which hoteliers especially should keep in mind. The continued spread of COVID-19 has taken the world by storm, and has seemingly overwhelmed the hospitality industry. As the fear of transmission continues to surge, our communities are banding together, as new emergency regulations urge us to self-isolate and avoid all non-essential travel. Currently, the timeline for a return to normalcy is anything but guaranteed: Will this 'new normal' last for a month, or three, or for the majority of 2020? While we cannot change our cu...
COVID-19 and the Chinese Hotel Sector
Caroline Zhang | March 31, 2020
By Caroline Zhang, Chang Xu, Rachel Cui From the beginning of 2020, Covid-19 spread in China and escalated into a global pandemic, impacting the travel, hotel, and catering industries. HVS Shenzhen Office combined existing market information and our own survey results, as well as the historical data, to determine the impact and provide an outlook on the Chinese hotel industry. View report...
Hotel Sales Teams: Two Sales Tasks You Can Do This Week to Get Ready for the Rebound
Doug Kennedy | March 31, 2020
By Doug Kennedy For most hotels in North America, the sales team is entering week three of the Covid19 disruption. The first week or so was just crazy, as salespeople from all market segments endured a frantic wave of cancelations and postponements. Just as that wave was starting to pass, most sales leaders had to make the difficult move of furloughing or laying off sales staff to pare down the payroll costs. As we begin week three, those who are still working are finding new challenges in taking over tasks usually done by support staff or colleagues from other departments who are now not available. Soon enough though, most salespeop...
STR: Lima’s Daily Hotel Occupancy Falls to as Low as 12.9%
STR | March 31, 2020
BOGOTÁ—As the impact of COVID-19 broadens in South America, Lima’s daily hotel occupancy fell to as low as 12.9% on 19 March, according to preliminary data from STR. That occupancy level came one day after the Peruvian government imposed a nightly curfew to combat the spread of COVID-19. STR’s most recent data for 22 March showed that just 13 of 100 rooms on average were occupied in the city. “Despite the fact that corporate tourism is not strong during January and February, daily occupancy in Lima was as high as 70.1% on 19 February,” said Patricia Boo, STR’s area director for Central/South America. “The market’s daily...
COVID-19 Business Disruptions: What’s in Store for the Hospitality Industry?
Avik Bhattacharya | March 31, 2020
By Avik Bhattacharya The COVID-19 pandemic is dealing a crippling blow to the hospitality and aviation industry. International borders are being closed, nationwide curfews have been implemented, flights have been grounded and some hotels are forced by law to close temporarily. The number of reservations is rapidly going down and revenue losses for the entire Indian hospitality industry are currently estimated between USD 5.5 billion to USD 6.2 billion. It is anticipated that the hospitality industry could take years to recover from the COVID-19 pandemic and the situation will likely get worse before it gets better. Companies that have ...
Marriott International Notifies Guests of Property System Incident
Marriott | March 31, 2020
Marriott International announced that it is notifying some of its guests today of an incident involving a property system. The notice explains what occurred, the information involved, the measures taken by Marriott to investigate and address the issue, how Marriott is assisting guests, and steps guests can consider taking. Hotels operated and franchised under Marriott’s brands use an application to help provide services to guests at hotels. At the end of February 2020, the company identified that an unexpected amount of guest information may have been accessed using the login credentials of two employees at a franchise property. The comp...
ALICE Launches Free COVID-19 Checklist Software
ALICE | March 31, 2020
ALICE has launched a new free product to help hoteliers operate more efficiently during COVID-19. ALICE’s COVID-19 Checklists Software is available now, and is free to help hotels manage operations through times of low occupancy or closure, back into times of recovery, and up to full occupancy again. ALICE Checklists provides hoteliers with tools to streamline operations and communications. With more than 100,000 hoteliers across 2,500 hotels using ALICE, it is the hospitality industry’s leading operations technology, connecting every department of the hotel with one platform for all staff communication and guest requests. With ALICE C...
COVID-19 Hotel Management Plan
Robert A. Rauch | March 31, 2020
By Robert Rauch As a seasoned hotelier of over 40 years, I have worked through five previous recessions, ergo, I feel qualified to provide insights into what we should do as we face the sixth recession since the 1970s. If we have not preserved cash, the financial portion of this brief article is perhaps the most critical. The human side is near and dear to my heart, but the financial side weighs heavily. Here is my suggested plan for recovery, not from COVID-19, but from the economic wounds it is causing. Financial Relief The most critical first step, if not already taken is to project our expenses for the next 90 days. This requires...
U.S. Hotel RevPAR Forecasted to Drop 50.6% for 2020
STR | March 30, 2020
HENDERSONVILLE, Tennessee—Due to the impact from the COVID-19 pandemic, the U.S. hotel industry is projected to report a 50.6% decline in revenue per available room (RevPAR) in 2020, according to a special forecast revision from STR and Tourism Economics. “The industry was already set for a non-growth year, now throw in this ultimate ‘black swan’ event, and we’re set to see occupancy drop to an unprecedented low,” said Jan Freitag, STR’s senior VP of lodging insights. “Our historical database extends back to 1987, and the worst we have ever seen for absolute occupancy was 54.6% during the financial crisis in 2009. With roug...
