COVID-19 impact
National Travel and Tourism Office Launches COVID-19 Travel Industry Monitor
NTTO | March 15, 2021
The COVID-19 pandemic has had an unprecedented impact on tourism to and within the United States. In 2020, overseas visitation to the United States declined 81% to its lowest level in 35 years, while the share of global travelers planning a vacation also fell to a record low. The COVID-19 Travel Industry Monitor, a user-friendly web platform that brings key health, economic and travel data together in one place, was built to help businesses, policy makers and communities stay informed on the state of the travel industry and to plan recovery efforts. Developed by the National Travel and Tourism Office (NTTO), part of the Industry and An...
GBTA Poll: In-Person Business Meetings and Events to Surge in 2021
Global Business Travel Association | December 17, 2020
Alexandria, VA (December 17, 2020) – The Global Business Travel Association (GBTA), the world’s largest business travel association, has released the results of its latest COVID-19 Member Poll. The survey – the 14th such poll by GBTA since the onset of the pandemic to measure the impact on business travel – finds that a majority of respondents are optimistic that the travel industry will begin to rebound in mid to late 2021 and that the availability of the COVID-19 vaccine is top of mind for many business travel professionals. “What we’re seeing in this latest poll is a number of reasons for the business travel industry to ...
Tourism Back to 1990 Levels as Arrivals Fall by More Than 70%
UNWTO | December 17, 2020
International arrivals fell by 72% over the first ten months of 2020, with restrictions on travel, low consumer confidence and a global struggle to contain the COVID-19 virus, all contributing to the worst year on record in the history of tourism. According to the latest tourism data from the World Tourism Organization (UNWTO), destinations welcomed 900 million fewer international tourists between January and October when compared with the same period of 2019. This translates into a loss of US$ 935 billion in export revenues from international tourism, more than 10 times the loss in 2009 under the impact of the global economic crisis. U...
COVID-19’s Impact on the Seattle Lodging Market
HVS | December 16, 2020
December 16, 2020 -- Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. During the Great Recession, Metro Seattle occupancy fell roughly seven points from 68.1% in 2008 to 61.6% in 2009; this year, we forecast occupancy to drop from the 2019 benchmark of roughly 74% to 37%, reflecting a 50-point correction. Average rate declined from $127 in 2008 to $112 in 2009, an 11% drop; this year, we forecast ADR to fall 36% ($161 to $104). 2020 Major Factors Virtually all significant corporate travel dissipated in 2020 given the widespread impact of the virus....
COVID-19 and Transforming Tourism
August 28, 2020
If tourism brings us together, then travel restrictions keep us apart. More importantly, restrictions on travel also prevent tourism from delivering on its potential to build a better future for all. This week the United Nations Secretary-General launched the Policy Brief “COVID-19 and Transforming Tourism”, which UNWTO assumed the lead role in producing. This landmark report makes clear what is at stake – the threat of losing tens of millions of direct tourism jobs, the loss of opportunities for those vulnerable populations and communities who stand to benefit most from tourism, and the real risk of losing vital resources for ...
Impact of COVID-19 on Hotel Insurance Premiums: Are Refunds Possible?
June 23, 2020
Much has already been written about insurance issues arising from the Covid19 virus. With many hotels closed throughout the world, it’s inevitable that hotel owners/investors are looking to their insurance policies for compensation under the Business Interruption section. But, sadly, for almost all hotels the probability is that their Business Interruption wording will not provide any protection for hotel owners or operators. There may be a few policies out there where the wording will allow a claim but they will be very few, and if cover exists for a particular hotel or group, it may well be under a Business Interruption extension worde...
