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STR: Canada Hotel Results for Week Ending 18 April
STR | April 23, 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 12-18 April 2020, according to data from STR. In comparison with the week of 14-20 April 2019, the industry reported the following: Occupancy: -77.7% to 12.8% Average daily rate (ADR): -31.8% to CAD101.23 Revenue per available room (RevPAR): -84.8 to CAD13.00 Among the provinces and territories, Quebec experienced the largest drop in occupancy (-90.0% to 6.2%), which resulted in the steepest decrease in RevPAR (-92.9% to CAD6.47). British Col...
From Chaos to Coping, FIU Chaplin School of Hospitality & Tourism Management Professor Lisa Cain Offers Helpful Advice on the Challenges of Worki
Lisa Cain | April 23, 2020
MIAMI, FL. – April 2020 … Apart, isolated, inaccessible and distant – these definitions of the word remote have taken on new meaning to the millions of professionals now working from quarantined homes around the globe. The COVID-19 virus has changed the working landscape, perhaps forever. Workers are cut off from their corporate support teams, colleagues and clients. Many are faced with new responsibilities of homeschooling and managing children. All are trying to function in a time of chaos, fear, financial uncertainty and profound frustration. The hospitality industry has been especially hard hit and the Chaplin School of Hosp...
Vizergy Launches New Brand Website for Hard Rock International: Focusing on Customer Engagement While Elevating the Hard Rock Experience
Vizergy Digital Marketing | April 23, 2020
Hard Rock has partnered with Vizergy Digital Marketing to launch an innovative new website site that seeks to keep customers engaged with the brand and create awareness with creative functionality and a world class user experience. Having a deep understanding of their customers’ needs, Hard Rock has developed an online platform that caters to a variety of desired experiences, from mobile games for kids, to interactive casino gaming for adults. The Hard Rock team is continuing to find innovative ways to provide their loyal guests with Hard Rock experiences, highlighting their hotels and resorts, cafes, music venues and casinos. Want to...
IDeaS Awards 2020 Cornell Revenue Management Scholarships
IDeaS | April 23, 2020
IDeaS awards six new scholarships to advance the careers of hotel revenue leaders from around the world Tweet This: @IDeaS_RevOpt awards six hospitality professionals with prestigious revenue management scholarships in partnership with Cornell University www.ideas.com/news #RevenueScience #TheFutureofRM MINNEAPOLIS—April 23, 2020—IDeaS, the world’s leading provider of revenue management software and services, today announced the 2020 IDeaS Cornell Revenue Management Scholarship recipients, continuing its ongoing scholarship program to foster professional development in the field of revenue management. IDeaS 2020 Cornell Rev...
There’s Magic in Managing the Details
Shep Hyken | April 23, 2020
By Shep Hyken “Detail is no detail.” I’m not sure where I heard this first. I even did a Google search and couldn’t find it. Maybe I made it up. If I did, this is what I meant by it: details are important. They must be purposeful. Some of the “little things” that seemingly don’t matter can actually be very important. An example of this comes right out of my recently released book, the updated and revised version of The Cult of the Customer. On page 163, I wrote, “Our perceptions of the organizations with which we choose to work are inevitably shaped by a sequence of seemingly little experiences that can go either...
Will the Covid-19 Pandemic Presage Another Once-a-Decade Contraction in Tourism?
Yong Chen | April 23, 2020
By Yong Chen A difficult time on the horizon Had the novel coronavirus not occurred, 2019 would have been hailed as another year of stellar growth in the global tourism industry. The strongest growth would have been recorded in the Asia-Pacific region not only as a tourist-generating region but also as a destination. In particular, China had propelled the global tourism growth in terms of both tourist numbers and spending over the past decade. Chinese outbound spending outstripped that of the United States in 2012, and by 2018, Chinese tourist spending amounted to US$277 billion. A McKinsey study estimates that Chinese outbound spending was...
Is the German Hotel Market Poised to Be One of the Fastest in Europe to Recover From COVID-19?
Arlett Hoff | April 23, 2020
By Arlett S. Hoff A Short Outline of the Pandemic Response in Germany The 2019-20 coronavirus pandemic was confirmed to have reached Germany on 27 January 2020, when the first COVID-19 case brought in by a Chinese visitor at Webasto was confirmed and contained near Munich, Bavaria. The majority of cases in January and early February originated from the headquarters of a car parts manufacturer there. On 25 and 26 February, multiple cases related to the Italian outbreak were detected in Baden-Württemberg. A large cluster linked to a Carnival event was formed in Heinsberg, North Rhine-Westphalia, with the first death reported on 9 March 2020....
U.S. Travel Announces New City, Dates for IPW 2021
The U.S. Travel Association | April 23, 2020
WASHINGTON (April 23, 2020)—The U.S. Travel Association has announced that its annual trade show, IPW, will next be held in Las Vegas May 10-14, 2021. This year's IPW, scheduled to convene in Las Vegas on May 30, was forced to be cancelled due to the coronavirus pandemic. The previously scheduled 2021 host city, Chicago, agreed to step aside for next year and will assume the host mantle in 2025. "This is incredibly welcome good news amid the serious challenges facing the travel industry, the country and the world," said U.S. Travel Association President and CEO Roger Dow. "Cancelling this year's IPW was a difficult though clearly n...
ProfitSword Launches Enhanced Support and Best Practices Assistance to Guide Hoteliers With Effective Business Intelligence During Ongoing Market Cris
ProfitSword LLC | April 23, 2020
Hospitality’s leading provider of business intelligence technology to bolster data management, reporting and advisory support services for customers to maximize financial stability and effective business planning abilities during coronavirus pandemic. ORLANDO, Fla. – (April 23, 2020) – ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has announced the launch of a range of enhanced support services for customers in order to provide them with the analytical insight and industry expert guidance needed to make the best strategic decisions possible for their business during the curren...
Xenia Hotels & Resorts Announces Departure of Chief Investment Officer
Xenia Hotels & Resorts, Inc. | April 22, 2020
ORLANDO, Fla., April 22, 2020 - Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced that, due to the severe downturn in lodging demand resulting from the COVID-19 pandemic, the Company has further streamlined its operations and reduced its ongoing corporate expenses by eliminating the role of Chief Investment Officer. As a result, Philip A. Wade, who served as the Company's Senior Vice President and Chief Investment Officer, has left the Company. With this change, the Company's corporate office headcount has been reduced by over 20% since the Company's operations have been impacted by the COVID-19 pan...
12 Young Hoteliers From 8 Ownership Companies Donate 25,000 Face Masks to 11 Hospitals in 4 States
April 22, 2020
April 20, 2020 - A dozen young second and third-generation hoteliers at eight leading hotel ownership companies have collaborated to purchase and donate 25,000 protective face masks to 11 hospitals in the four states where the respective companies operate their hotels – California, Texas, Oregon, and Washington. The 12 hoteliers and their eight companies are: Taran Patel, managing partner at A1 Hospitality Group, which operates properties in Oregon and Washington Neal Patel and Avi “Sunny” Patel, founders and managing partners of Blue Chip Hotels, which operates in Texas Shirin Patel, principal at Canterbury Hotel Grou...
How Hotels Will Need to Adapt Duty of Care Policies for the Coronavirus Pandemic
Nancy Huang | April 22, 2020
By Nancy Huang Duty of Care, which for hotels is the legal obligation to ensure the safety or well-being of its guests, has always been an important aspect for hotel operations. Though many hotels are currently closed due to the coronavirus pandemic, many hoteliers are already concerned with how they will need to exercise Duty of Care once they reopen. Not only will government standards resulting from the pandemic dictate new requirements from businesses, but the public’s expectations for health and safety will also be markedly different than before. To ensure a smoother reopening for your hotel, we’ve compiled some of the most impo...
Six Actions Taken by Chinese Hoteliers as Immediate Remedies for the Coronavirus Crisis
Global Asset Solutions | April 22, 2020
“Cities in China are carefully easing strict prevention measures and access restrictions based on advancements in local public health conditions”. This is the message that citizens have recently shared on their social media profiles. The hospitality sector has been one of the hardest-hit industries in these times. Hoteliers in China have demonstrated resilience and creativity through their countering measures towards the Covid-19 crisis. Today, as hoteliers from all over the globe are facing a similar unprecedented situation, it has become ever-more crucial to pass on the experience to design new scenarios, post-COVID19. We have gat...
Impacts of COVID-19 on the Boston and Cambridge Hotel Industry
April 22, 2020
For 2019, Pinnacle Advisory Group estimated that Boston and Cambridge hotels generated nearly $2 billion in rooms revenue, based on a total supply of nearly 25,700 rooms, an average occupancy of 81.4 percent and an average daily rate (ADR) of $259. Over 13,300 people are employed in the hotel industry sector in Boston and Cambridge. Due to the pandemic and the stay-at-home requirements starting in March of this year, demand for hotel rooms has dropped precipitously, with many hotels closing completely and others only renting rooms to essential workers, often at discounted rates. According to the Pinnacle Perspective, Revenue Per Available ...
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...
HFTP Debuts Two USALI Certificates, Developed and Powered by Ascend
Ascend | April 22, 2020
The new certificates demonstrate a professional’s expertise on the widely used Uniform System of Accounts for the Lodging Industry (USALI). Course discounts available through August 31, 2020 Hospitality Financial and Technology Professionals (HFTP®) is debuting two new professional certificates which demonstrate one's expertise in the USALI 11th Revised Edition: The USALI-11 Certificate, Theory and USALI-11 Certificate, Practice. Each certificate is a four-module course which cover the concepts, organizational structure and application of this industry-wide reporting standard. Developed by Ascend, a hospitality talent development company,...
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...
Avison Young Hired Adam Lallani
Avison Young | April 21, 2020
ATLANTA – April 21, 2020 – Avison Young has hired Adam Lallani to lead the hospitality practice group in Houston. Adam will focus on the valuation, disposition, financing and acquisition of single assets and portfolios across the United States. Adam started his career with Avison Young in June 2017 as an Analyst for Avison Young’s Hospitality Group in Atlanta, Georgia. As an Analyst, Adam was primarily responsible for composing Offering Memoranda and Broker’s Opinions of Value for the hospitality team. Adam earned a Bachelor of Science degree in Business Administration with a concentration in Finance from Trinity University in S...
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...
