omicron variant
Tourism Outlook: A New Spring in Its Step?
STR | April 6, 2022
Global tourism receipts were well below the pre-pandemic level in 2021 as travel restrictions and uncertainty persisted, and changing consumer behavior dented economic recovery. But now, in the spring of 2022, some two years since COVID-19 forced governments to impose lockdowns and severe travel restrictions, there are plenty of signs of optimism for the future of tourism. This is true even with potential macroeconomic and geopolitical headwinds. STR has evaluated consumer views and behaviors throughout the pandemic, and our latest survey, conducted in February 2022, canvassed opinion from a global audience to gauge sentiment and the out...
U.S. Hotel Profitability Back on the Rise After Omicron-Induced Dip
STR | April 5, 2022
HENDERSONVILLE, Tennessee — April 5, 2022 — After falling to roughly US$20.00 in January, gross operating profit for U.S. hotels reached nearly US$59.00 – the highest level in the metric since October 2021, according to STR‘s February 2022 P&L data release. All of the key performance metrics increased from January, after concerns around Omicron pushed levels lower. GOPPAR: US$58.88 TRevPAR: US$169.77 EBITDA PAR: US$39.29 LPAR (Labor Costs): US$56.63 “Following trends in top-line performance, U.S. profitability levels are recovering more quickly from Omicron than with previous variants,” said Ra...
It’s 2022, but the Same Problems Persist for Hotels
HotStats | January 13, 2022
If you thought 2021 was topsy-turvy, wait until you see 2022. Though the calendar has changed, the world remains saddled with many of the same issues faced last year. And now, with the advent of the Omicron strain, which some experts predict will infect everyone, the scenario is becoming clearer by the day: things have a way to go before we are back to business as usual. This virus is not done yet and it is causing a migraine for the global hotel industry, from a demand perspective, labor, expenses and a host of other variables. It’s all causing confusion and angst for some industry insiders, but other hotel prognosticators reading t...
Omicron Emergence a Yardstick for the Hotel Industry
HotStats | January 3, 2022
Though the materialization of new coronavirus strains vex, it turns out, the more thrown our way, the better we now appear to cope. Just as the world was rounding the corner on the Delta variant, along came Omicron—a rowdy interloper arriving to a party all hoped was winding down. And though the intrusion was noisy at first, Omicron could potentially be more insipid than insidious. Despite our best efforts, there is an assumption that COVID will become an endemic disease, meaning it’s here in perpetuity, like the flu. That means one thing: better get used to it. If it’s Omicron one day, it could be Upsilon next. For the hotel ...
As Omicron Emerges, the Business Travel Industry Shows Concern for Potential Economic Impact but Stays the Course on Returning to Corporate Travel
GBTA | December 16, 2021
The recent emergence and yet-unknown trajectory of a new COVID-19 variant is the latest development on the road to recovery for the business travel industry. Due to the omicron variant, many business travel practitioners are concerned about the potential economic impacts in the industry. Most companies, however, are taking a wait-and-see approach before introducing new restrictions or requirements for business travel as a result of the omicron variant. Additionally, a clear majority feel countries should require international visitors to prove they are fully vaccinated, and that pre-trip negative tests should be required regardless of vaccina...
Holiday Travel Forecast: Cloudy With a Chance of Omicron
trivago | December 14, 2021
DÜSSELDORF, Germany - December 14, 2021 - With cold weather driving people indoors, concerns about variants like Omicron and ever-changing requirements, international holiday travel planning has slowed around the world, according to new data from trivago N.V. , a leading global accommodation search platform. Much like 2020, domestic travel is the preferred option as consumers look to reunite with friends and family. From the US to Germany and the UK to Italy, most travelers are choosing domestic destinations with one exception: Dubai which appeared in the top 10 searches for holiday travel from each country. Dubai has become one o...
Omicron Threatens Hotel Performance Recovery
HotStats | December 2, 2021
By David Eisen It’s all Greek to me. The COVID-19 pandemic has so thoroughly dominated everyday life that we have all got an education in the Greek alphabet. From Alpha and Beta to Gamma and Delta, each new strain is a grim reminder of the coronavirus’ intractability. Now, Omicron—the newest variant that has already spooked markets and caused travel bans from some southern Africa countries. Though nascent, there is the reality and worry that the new strain could derail the hotel industry’s fledgling recovery, in particular if plans move forward to tighten testing policies, like in the U.S. Indications are that ...
