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
UNWTO Secretary General Issues COVID-19 Statement
The World Tourism Organization (UNWTO) | March 17, 2020
Zurab Pololikashvili Secretary-General, World Tourism Organization As the COVID-19 situation evolves, the World Tourism Organization (UNWTO) observes that full or partial travel restrictions have been – and continue to be – introduced across the world. These decisions are made with public health as the primary concern. This pandemic affects every level of society and we stand by those affected in these times. The impact of the pandemic on already slowing economies has made tourism particularly vulnerable, becoming the hardest hit sector so far. With 80% of the sector made up of small and medium-sized enterprises, millions of liveli...
European Tourism Sector Demands Urgent Supportive Measures to Reduce Devastating Impact of COVID-19
European Travel Commission | March 17, 2020
The European Tourism Manifesto alliance, the voice of the European travel and tourism sector, has issued the following statement on the implementation of urgent measures to limit the COVID-19 outbreak’s impact on the sector. The effects of the outbreak are already being felt throughout the global economy. Economic activity has dropped, and all evidence points towards a significant downturn in areas affected by the virus. The tourism and travel sector is particularly hit. Millions of jobs are currently at stake, while many small and medium enterprises (SMEs) risk closing their business. Support for tourism must ...
How Hoteliers Can Get Over the Coronavirus
HotStats | March 17, 2020
COVID-19 is putting an end to 11 years of unprecedented growth in the hotel industry. There is no sugarcoating it: the coronavirus has induced panic across the globe, throwing markets into chaos, postponing conferences, stamping out travel and emptying drugstore shelves. It’s still early, but the impact has been swift and pernicious for the hospitality industry as travel has come to a standstill, drying up occupancy and throwing a wicked curveball to revenue and accentuating expenses, which in turn will cast a pall over hotel bottom lines. The virus is here, and it’s doing what viruses do: invading and infecting. The hotel industry ...
Will the Coronavirus Crisis Force Hoteliers to Implement New Technologies Faster?
Moritz Klussmann | March 17, 2020
By Moritz Klussmann Covid-19 is not only turning our private lives upside down these weeks and months. The spread of the virus also has a massive impact on many industries worldwide. Cancelled rooms and flights and thus absent guests are hitting the hotel and tourism industry very hard. In the current situation, hoteliers must therefore not only be creative when it comes to their pricing and cancellation conditions. They must also develop a long-term strategy to rehabilitate themselves in the market and make up for losses once the crisis is over. New technologies and especially their rapid implementation will - and must - play a key role f...
Industry CEOs to Host Press Conference Call Following Meeting With VP Pence & White House COVID-19 Taskforce
March 17, 2020
WASHINGTON, D.C. – On Tuesday March 17, at 3:45 PM ET the American Hotel and Lodging Association’s (AHLA) President and CEO, Chip Rogers along with U.S. Travel Association’s (USTA) President and CEO, Roger Dow will join leading hotel industry CEOs to host a press conference call following a meeting with Vice President Pence and White House officials where they will discuss the industry’s response to the novel coronavirus (COVID-19) and the catastrophic economic impact on the hotel industry, its employees and U.S. economy. As it continues to be unknown how long this public health situation will last, the coronavirus has already ha...
The Guestbook and Fuel Partner to Release White Paper, “Navigating Troubled Times,” to Help Hoteliers Manage Economic Uncertainty
The Guestbook | March 16, 2020
Cash back rewards innovator The Guestbook and hospitality digital solutions provider Fuel provide insight and tips for hoteliers who must balance short-term impacts and long-term prosperity. Las Vegas and Myrtle Beach, SC — March 16, 2019 — The Guestbook, the world's largest rewards program for independent and boutique hotels, and Fuel, the premier software provider and digital agency for the hotel industry, have partnered to release a new white paper addressing the economic challenges facing hoteliers in the coming months and how to weather them. Titled “Navigating Troubled Times,” the informational white paper explores key strate...
STR: London Hotel Performance Drops Amid Growing COVID-19 Concerns
STR | March 16, 2020
16 March 2020 - LONDON— STR’s preliminary data for hotels in London shows slightly negative performance in February 2020 that worsened into double-digit declines during the first week of March. February preliminary data (compared with February 2019): Occupancy: -2.3% to 76.3% Average daily rate (ADR): +0.3% to GBP133.57 Revenue per available room (RevPAR): -2.1% to GBP101.91 1-8 March preliminary data (compared with corresponding week in 2019): Occupancy: -21.0% to 65.5% ADR: -8.5% to GPB128.39 RevPAR: -27.7% to GPB84.14 As concerns have grown around the COVID-19 outbreak, STR analysts note that London daily...
U.S. Travel Reacts to Expansion of Travel Restrictions to UK and Ireland
U.S. Travel Association | March 16, 2020
Washington (March 16, 2020)—U.S. Travel Association President and CEO Roger Dow issued the following statement: "The public's health and safety is priority No. 1, and we hope the aggressive steps taken by the federal government succeed in putting the moment of greatest concern behind us. Hearing of the need to further expand travel restrictions—especially the inclusion of our No. 1 overseas source market, the UK—is obviously not the development the U.S. travel industry was hoping for. Aggressive steps will also be needed to address the health of the U.S. economy, the small businesses that make up 83% of all U.S. travel employers, and...
Meetings Mean Business Reacts to New Federal Guidance on Large Events And Mass Gatherings
Meetings Mean Business | March 16, 2020
WASHINGTON – The Meetings Mean Business Coalition has issued the following statement: “In these unprecedented times – and to prevent the further spread of COVID-19 – the Centers for Disease Control and Prevention (CDC) recommends that ‘for the next 8 weeks, organizers cancel or postpone in-person events that consist of 50 people or more throughout the U.S.’ As industry leaders who are driven by a responsibility to our clients, customers and employees, this is certainly not a directive we were hoping to see. However, it is one we intend to follow. We applaud the industry professionals who are managing as best they can thro...
COVID-19 Pushes Hospitality Industry to the Edge: Key Considerations for Stakeholders
Todd Soloway | March 13, 2020
By Todd Soloway As reports of confirmed Coronavirus cases increase, travel bans and mass quarantines go into effect, and citizens across the globe avoid all nonessential travel, the hotel industry is being hard hit. Without exaggeration, owners, managers, and brands that were already struggling, and even those that were not, may face existential decisions. To aid in addressing the myriad of issues, we have compiled a series of key points that any stakeholder should consider in navigating and evaluating the difficult decisions that lie ahead. Cost Cutting: Can Vendor Contracts Be Modified, Suspended or Terminated? Hotels are being i...
HSMAI SPECIAL REPORT: Crisis Communications for Hospitality Marketing Professionals
HSMAI | March 13, 2020
In a crisis situation, business leaders don’t just need information. They need inspiration. They need success stories. That’s what this HSMAI Special Report — presented with the support of HSMAI’s Organizational Member companies — provides. While the coronavirus is still very much a developing situation, hospitality marketing professionals should be focusing on how they are positioning their properties, companies, and brands — not just right now, in the midst of the crisis, but in the aftermath. To offer some ideas, we’ve turned to winners in the Crisis Communication/Recovery Communications category for Public Relations in HS...
Marketing in the Age of Coronavirus
HSMAI | March 13, 2020
Marketing never stops. Even when a crisis event like coronavirus seems to be consuming everyone’s attention, you still have to get your message out — but do so in a sensitive, thoughtful way. How? Brian Hall, chief marketing officer of Explore St. Louis and a member of the HSMAI Americas Board of Directors, recently offered some insights. What are the immediate priorities for hospitality marketing professionals in this climate? The most immediate priority for hospitality marketers in times of uncertainly is to communicate facts and do so routinely and liberally. As concerns have heightened over the past week, many organizations are ...
Coronavirus Puts up to 50 Million Travel and Tourism Jobs at Risk Says WTTC
WTTC | March 13, 2020
London, UK, 13 March 2020: The World Travel & Tourism Council says up to 50 million jobs in the Travel & Tourism sector are at risk due to the global COVID-19 pandemic. Gloria Guevara, WTTC President & CEO, said: “WTTC figures show the stark impact on the Travel & Tourism sector of the present COVID-19 outbreak with analysis now suggesting that up to 50 million jobs are at risk in the sector globally”. “When the time is right, WTTC and the global private sector will be ready to help and support the government and countries to recover” Latest figures from WTTC, which represents the global Travel & Tourism p...
Fitch Revises North American CMBS Hotel Outlook to Negative; Coronavirus Adds to Expected Decline
Fitch Ratings | March 13, 2020
Fitch Ratings has revised its North American CMBS hotel asset performance outlook to negative from stable/negative. The negative outlook revision for the sector is due to several factors including new supply and weakening economic conditions. Fitch expects RevPAR growth to flatten out in 2020 and then decrease by a low single digit percent in 2021. The impact from the coronavirus will exacerbate hotel cash flow declines and rising expenses from wages and real estate taxes may exceed revenue growth. Hotels will be the first property type to be affected by the coronavirus due to reduced tourism and travel, and a slowdown in economic activ...
COVID-19 | A Hotel Marketing Guide
GCommerce Solutions | March 13, 2020
Lindley Cotton | GCommerce Solutions | President Starting today, March 13th, GCommerce is instituting a mandatory work-from-home policy for at least the next week. Since the situation is fluid, we will be re-assessing the need for employees to stay home on a weekly basis. I think we are all blown away by how fast this has escalated. Whether you believe that COVID-19 is dangerous or not, it has forced all of us to think about our social responsibility. I read a fantastic article yesterday morning that talked about social responsibility and how every day matters in implementing social distancing. GCommerce is fortunate to provide hotel ma...
UK Hotel Sector Can Breathe a Small Sigh of Relief
HVS | March 12, 2020
The Chancellor of the Exchequer has announced a number of measures in his Budget statement which should assist the UK hotel sector in the wake of the coronavirus, which has already precipitated a number of events and overnight stays in hotels to be cancelled or postponed, thereby causing a fall in hotel occupancy. The Chancellor has singled out the sector to receive a number of benefits which will help to reduce some of the pain, especially for smaller businesses – and not therefore for the larger enterprises that make up the vast majority of the sector. These measures include: Firms with fewer than 250 staff will be refunded for si...
COVID-19: Industry Leaders Speak Out on the Future of the Meeting Business
Hospitality Upgrade | March 12, 2020
by Fran Worrall, Hospitality Upgrade Editor Yesterday, the World Health Organization announced that COVID-19—the viral disease that has swept the globe and killed more than 4,200 people—is officially a pandemic. At the same time, President Donald Trump announced that travel from Europe to the U.S. would be restricted for 30 days, beginning tomorrow at midnight. Analysts are saying the virus is having a bigger impact on global aviation than 9/11. And a recent Skift Research survey indicates that nearly one-third of U.S. travelers are deferring their plans. A number of industry conferences and meetings have been cancelled or postponed, a...
Knowland Insights: Coronavirus Pandemic – Hotel Group Impact and Actions
Knowland | March 12, 2020
Large losses of business, mitigation in the short term and positioning for an eventual rebound Washington, DC (March 12, 2020) Knowland, the leader in revenue-generating hospitality meetings data and analytics, is tracking the impact of the Coronavirus pandemic on group business for the hotel industry. Today, Knowland announced estimated group cancellation rates across a 90 - 120 day booking window for the US/North America, Asia Pacific and Europe regions. As expected, Asia Pacific has the highest cancellation rate with 90%, while U.S./North America hotels report a 40% cancellation rate for events and meetings. The U.S./North America ...
U.S. Travel Community Reacts to Increased Travel Restrictions
USTA | March 12, 2020
WASHINGTON (March 12, 2020) — U.S. Travel Association President and CEO Roger Dow issued the following statement on the announced suspension of most air travel to and from Europe: "In taking aggressive steps to protect the public against coronavirus, the U.S. government should now consider equally aggressive steps to protect America's workforce and employers. The public's health is the top concern, but now the policy conversation must address the health of the economy. "Temporarily shutting off travel from Europe is going to exacerbate the already-heavy impact of coronavirus on the travel industry and the 15.7 million Americans whos...
The Bear, the Bull and the Wolf: a 2020 Economy Fairytale
Dr Giuliano Bianchi | March 11, 2020
As the impact of the global coronavirus outbreak ripples through markets, what's the outlook for tomorrow's economy? By Dr. Giuliano Bianchi Daughter: “Mom, can you tell me a bedtime story?” Mom: “Of course. Do you know the story of the people and their economy of the last two decades?” Daughter: “Is it scary?” Mom: “Quite!” Once upon a time, there was a recovering economy that was finally growing after the 2008 financial meltdown. But then, a scary virus jumped from exotic wild animals to human beings and spread over many continents. In this moment of fear, people reduced their level of consumption leading t...
Crisis Management: Preparing Your Hotel for Coronavirus (COVID-19)
NextGuest | March 11, 2020
By Margaret Mastrogiacomo, EVP Strategy Crisis Management is a critical component of any successful digital strategy. During times of crisis, hotels need to thoughtfully and swiftly develop a prevention plan, communicate to employees and guests, and make critical shifts to revenue management and digital strategies to ensure success. With Coronavirus (COVID-19) continuing to spread, it’s important for hotels to have an action plan in place that addresses both the current state and the potential future impact if the situation continues to worsen. Overall, your hotel should arm itself with an internal Coronavirus response ...
Strategic Coronavirus Operational Planning
Larry Mogelonsky | March 11, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) The news regarding this virus is omnipresent. It has impacted travel throughout the world, for which nearly every hotel will feel the effect. Stemming from numerous emergency planning sessions for the properties we manage through our consultancy, below is the rough preamble of what we have proscribed to help hoteliers get through this global ordeal. Preparation is essential, not only in terms of what we do hygienically, but also in how we build our business. Whatever the actual severity of this virus, the fact remains that it is not our call as hoteliers to make a decision either wa...
Travel Leaders Echo Experts: Make Fact-Based Decisions About Traveling
AHLA | March 11, 2020
WASHINGTON (March 11, 2020)—A coalition of 150 travel-related organizations issued the following statement on the latest developments around coronavirus (signatories below): "For the travel and hospitality industry, the safety of the traveling public, our guests and our employees is of the utmost importance. We are in daily contact with public health authorities and are acting on the most up-to-date information on the evolving coronavirus situation. "Health and government officials have continually assured the public that healthy Americans can 'confidently travel in this country.' While it's critically important to remain vigilant and...
How Brands Can Manage a Travel Industry Crisis
Deborah Fell | March 11, 2020
By Deborah Fell Travel isn’t always a bed of roses. There are natural disasters, tainted products, bad actors, data breaches, regional and global viruses, and events big and small that require industries to step up, speak up, and do whatever it takes to care of their employees and customers. As the coronavirus outbreak tops 93,000 in dozens of countries, it’s an appropriate time to offer advice on how to handle an industry crisis. Protect Your Employees, Guests, and Brand Brands have a responsibility to ensure life safety for associates and guests. Government safety regulations vary around the world, but standards, process...
