pandemic impact
Short Extension of Mask Mandate Creates Opportunity for Endemic Policies in New Framework
U.S. Travel Association | March 11, 2022
WASHINGTON — March 11, 2022 — U.S. Travel Association President and CEO Roger Dow issued the following statement on the Biden administration’s announcement to extend the federal mask mandate on airlines and transportation services until April 18, 2022: “The Biden administration urgently needs to send a clear message to the American public and the world that it is safe to travel again, particularly for vaccinated individuals, despite this 30-day extension of the federal mask mandate. We continue to urge the federal government to phase out the mask requirement and put forward a clear plan for travelers within this 30-day pe...
Hotels Seek Out the Ordinary in 2022
HotStats | March 7, 2022
Hoteliers appreciate predictability. It aids in setting labor schedules, revenue management optimization, food cost containment and as a hedge against a variety of other line items impacting hotel operations on a daily, weekly, monthly and yearly basis. The past two years have been anything but formulaic and the crisis in Ukraine could keep it that way. Hotels, at the mercy of the pandemic, have been bounced to and fro like a dinghy in the middle of a sea storm. Calmer waters may soon prevail, but data points to a recovery that is anything but gangbuster. Europe Alarm In a worrisome sign, Europe profit in January fell into negative t...
COVID-19’s Impact on the Silicon Valley Lodging Market
John Berean | February 23, 2022
By John Berean, Noella Moon One of the main economic engines of the San Francisco Bay Area, Silicon Valley experienced tremendous growth during the last business cycle. Major companies such as Google, Apple, and Meta (formerly Facebook) have expanded their presence in recent years, which has historically translated to strong lodging performance. However, with the onset of the pandemic and a market-wide shift in policy toward remote working in 2020, hotels have been severely affected, particularly in terms of average rate. Moreover, the influx of new supply over the last several years has been significant, which has substantially heig...
The Pandemic Has Been Tough on Luxury Hotels. The Upside Is Great.
HotStats | February 22, 2022
There are a host of elements that impact luxury hotel performance. The segment relies on a healthy mix of leisure and corporate travel—spendy families paying top-dollar room rates and the C-suite on healthy per diems. Above all, the luxury hotel segment relies on stability, something not indulged over the past two years. It’s been a protracted pandemic to be sure, and just as the world appeared to be 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. Des...
How Will Hospitality Emerge From the Pandemic? Findings From EHL Research Day
Andrew Brenner | February 21, 2022
EHL Hospitality Business School entitled their research day “Navigating the Covid Storm”, where the future of the hospitality industry was discussed by EHL faculty members. The afternoon’s insights reflect the diversity of subjects investigated by EHL researchers and the challenges and opportunities that lie ahead for the hospitality industry. “Welcome back to the new abnormal, how may I help you?” By Andrew Brenner Small, family-owned firms fared well Sifting through the winners and losers of the pandemic, Dr. Cédric Poretti, Assistant Professor of accounting, found that when a family owns 20% or more ...
Okay Covid, What’s Next?
Larry and Adam Mogelonsky | February 2, 2022
By Larry and Adam Mogelonsky We’ve all witnessed multiple waves of COVID-19. The effects on our businesses have been as expected, with last minute cancellations exacerbated by pandemic-related staff shortages. Corporate and group sales have not yet returned. It’s exhausting and disheartening to most every owner and operator. But there is light at the end of this tunnel. The Spanish Flu of 1918 petered out after about two years, and this occurred without any vaccinations (and a truly globalized economy mind you). It just may be that the Omicron variant we are currently experiencing is the ‘flameout’ of this pandemic bec...
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...
The Winners and Losers in the Pandemic? It Came Down to This.
HotStats | December 20, 2021
Location ... location ... location. It’s a constant refrain in real estate and, by extension, the hotel industry. The turn of phrase took on a whole new meaning in the wake of the COVID-19 pandemic. Depending on orientation, some hotels thrived, some survived, some shuttered and some didn’t survive. Asset type also had consequence. Full-service hotels situated in downtown locations with ample meeting space and F&B outlets were a victim of circumstance and did not fare well on a profitability continuum. Meanwhile, hotels in secondary or tertiary markets, so-called drive-to markets, or properties within resort destinations had a bet...
