สมัคร slotxo88:Coronavirus: Impact on the Hospitality Industry
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All eyes are on the spreading coronvirus, COVID-19. Here you can follow the development and the impact of the coronavirus on the Hospitality Industry. Visit the WHO | World Health Organization for more information about the virus.
On short notice, the coronavirus pandemic brought global travel to a standstill. In April 2020, US airline passengers decreased 96% compared with April 2019, according to the Bureau of Transportation Statistics data.
Ultima Collection is delighted to share a collaborative report with leading trend forecasting agency Globetrender, detailing the projected trends at the forefront of the luxury travel industry in 2021.
By Terence Ronson – Hospitality Professional, Technology Consultant, Public Speaker and Inventor
Raise your hands... those who yearn to get on a plane and fly to some exotic destination. In fact, at this point, anywhere outside the confines of our homes, in any form of transport will do nicely, thank you.
As a Finance and Strategy leader, an important part of my job is trying to "see around corners" for our company - to know what is coming and how to react to it, but I must admit that a year ago I would not have predicted where we are today.
Why indeed. The team at RISE has been asked this question repeatedly - first, back in April 2020 when we aired our first episode of Season 1, until just this past week on the 18th January 2021 when we premiered the first episode of Season 3.
The hotel and travel industry has been significantly impacted by the pandemic, and Hospitality Net is facilitating a 2021 online survey to help the hospitality community better navigate the changing landscape.
Miami's short-term rental sector posted its best overall performance since the beginning of the pandemic, according to December 2020 data from STR. Miami short-term rentals, along with those in Nashville and Pennsylvania, reported occupancy levels higher than hotels in their respective markets.
Horwath HTL decided to start collating industry support measurements on a country by country basis so that we can create a best practice benchmark that shows the different approaches. Hopefully, once this crisis passes we will be able to look at the various measures adopted and figure out which was the most effective and why.
The first hotel market sentiment survey conducted in Ukraine as a combined effort of the Ukrainian Hotel & Resort Association (UHRA) and Horwath HTL Hungary. The report gives an overview on how much the local hotel industry has been impacted by COVID-19 and what local hoteliers believe the future holds.
By Drew Conte – Graduate Student at Cornell University
Seventeen percent of America's restaurants permanently closed in 2020 (source: CNN Business). By the end of last year, hospitality workers saw an unemployment rate of 16.7% (source: U. S. Bureau of Labor Statistics).
By Gordon Coles – Senior Vice President, Architecture, Design & Construction, Europe, Middle East & Africa at Hilton
In the past year, the hospitality industry has undergone a significant transformation to adapt to the changing demands of guests. Hilton has been at the forefront of ensuring that as travel resumes, hotels are ready to welcome guests back in a safe and secure way.
The prospect of an extended stay at a hotel rarely has negative connotations. What is a hotel if not a magical place where you can tuck swimming pool-pruned fingers into room service fries, cloaked in a fluffy robe, on a bouncy-castle bed? As arduous as business travel can sometimes be, extending your hotel stay after the work element of your trip has ended is an indulgence.
Richard Zaro always wanted to open a chicken cutlet joint inspired by the deli sandwiches served across northern New Jersey, but the challenge was coming up with the required capital. The pandemic finally gave him an opportunity.
Even as countries are beginning to roll out vaccines against Covid-19, travel in 2021 will be focused on regional destinations rather than international tourist meccas, according to a report released by Airbnb Inc.
The IATA Travel Pass, currently in pilot phase with Singapore Airlines, IAG Group, Emirates, Etihad, and Qatar Airways, and targeted for launch by March, will hopefully give confidence to governments and health authorities to open their borders without the requirement of quarantine.
Before the pandemic began, the second location of The June Motel, a 24-room boutique hotel in Sauble Beach, Ontario, was set to open late last spring. To be fully ramped up for Lake Huron's 2020 beach season was the goal.
Including a 100.6% decline in December, U.S. hotel profitability fell 84.6% in 2020, according to STR's latest monthly P&L data release. December gross operating profit per available room (GOPPAR) came in worse than any month since June in both absolute terms and year-over-year comparisons.
Global tourism suffered its worst year on record in 2020, with international arrivals dropping by 74% according to the latest data from the World Tourism Organization (UNWTO). Destinations worldwide welcomed 1 billion fewer international arrivals in 2020 than in the previous year, due to an unprecedented fall in demand and widespread travel restrictions.
The housing market crisis during the COVID-19 pandemic has caused more people to look at extended stay hotels as an attractive solution. People choose extended stay hotels over traditional rentals to accommodate the increasing needs created by relocation, travel, or changing homes with gaps in housing needs such as waiting to get out of a lease agreement.
Brand USA, the destination marketing organization for the United States, launches its highly anticipated COVID-19 Indicator Dashboard—a gating criteria dashboard designed to provide high-level updates of current COVID-19-related conditions in global inbound markets for U.
The COVID-19 pandemic has been a real-life stress test on the entire travel industry, and the ups and downs of infection rates and lockdown measures have made unpredictability the only thing that is certain.
The COVID-19 pandemic impacted Americans and the rest of the world in a multitude of ways. None was more readily apparent though than the steep reduction in face-to-face interactions - whether through traveling or in the workplace.
As the governments of the United States, Canada, United Kingdom and the European Union broaden or impose quarantine periods for international travelers, the Global Business Travel Association issued the following statement on COVID-19-related travel policies around the world.
"Travel's Next Great Chapter." That's how U.S. Travel Association President and CEO Roger Dow described the coming era for the American travel and tourism industry following the challenges of the COVID-19 pandemic that saw the industry lose 4.
Although leisure travel is currently a pretty lousy idea in most of the world, there are still times when people really need to travel. (Covid isn't the only emergency in the world right now.) And with hotels struggling to stay afloat, it makes sense that some of them are turning to a new way to delivery hospitality—to take care of their guests.
As coronavirus lockdowns are extended across Europe, protests have flared in its hard-hit hospitality sector, along with warnings that many businesses are on the verge of extinction. Four voices from around the continent detail the impact of the crisis on struggling firms.
The COVID-19 pandemic caused total disruption in the travel industry. Hotel occupancies in Europe dropped 90 percent in May compared with the same period a year earlier, and average daily room rates in the Asia-Pacific region decreased 40 percent.
Worsened pandemic metrics and assumptions of limited early-year travel led STR and Tourism Economics to slightly downgrade their latest U.S. hotel forecast. Full recovery of demand remains on track for 2023, while close-to-complete RevPAR recovery is still projected for 2024.
The words "vaccine passport" have a reassuring ring to them, perhaps conjuring up the image of a sleek, embossed document with watermarked pages and official stamps of approval. Flourished at border controls, it would open travel doors that, for so many of us, have been closed by COVID-19.
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, Greater St. Louis occupancy fell roughly four points from 59% in 2008 to 55% in 2009.
The global leader in third-party hotel management has achieved the WELL Health-Safety Rating at nearly 100 North American hotels, with 200 additional properties enrolled(PLANO, Texas - January 25, 2021) - Aimbridge Hospitality, the leading, global, third-party hotel management company, has earned the WELL Health-Safety Rating for Facility Operations and Maintenance at an initial 96 hotels across North America.
AT THE END of December 2020, hope returned to the world, including hope for restarting travel, as countries began approving the Pfizer/BioNTech, Moderna, and Oxford-AstraZeneca vaccines. Sometime in 2021, when enough people are vaccinated against—and immune from—COVID-19, this could mean a return to globetrotting (or at least less-risky domestic vacations).
There is no joy in recognizing that business travel has peaked and that our industry will never return to its pre-Covid level. Like it or not, there are significant implications for our industry's future.
Just as the race to invent a vaccine dominated headlines months ago, the topic du jour at the center of getting back to life's great pleasures -including cross-border travel- is the health passport. Like most things these days, the race is on to eliminate paper and all of the associated problems and inconveniences.
It has been one year since the first COVID-19 case was reported to the World Health Organization in December 2019. The World Health Organization declared it a pandemic in March 2020. Multiple countries during the pandemic have initiated nationwide lockdowns and restrictions (WHO, 2020).
Hit hard by the repercussions of the COVID-19 pandemic, the Indian hotels sector witnessed one of its lowest performances ever in 2020, in line with the estimates in our 'India Hotels Outlook' report published in August 2020.
Imagine this scenario. A guest arrives after a short flight for a five-night stay. A few days later, not feeling well, she goes to a local hospital for a COVID-19 test. She returns to her guestroom, advises the general manager of the situation, and immediately goes into self-isolation there.
By Marianna Sigala – Professor of Tourism and Director of the Centre for Tourism & Leisure Management - University of South Australia
It is obvious that the tourism industry has been devasted by COVID-19. The harsh, but necessary stop to travel created an unparalleled number of job losses around the world and it is estimated that 100.
Gloria Guevara, WTTC President & CEO: "The latest expected announcement from the UK government, which will force UK arrivals to quarantine in a hotel for up to two weeks at their own cost, will be yet another crushing blow to the ailing UK Travel & Tourism sector.
Prices of hotels along the east coast continue to drop, although the rate of decline has moderated. Hotels on the west coast enjoyed positive price momentum, both on a quarter-over-quarter or year-over-year basis.
HVS and The Lodging Conference hosted a webinar on January 14, 2021, that provided insights on what lies ahead for the hospitality industry in 2021. A truly distinguished group of hospitality executives shared their perspectives on the changing hotel landscape, along with their thoughts on navigating this unprecedented time.
In Spring 2020, many hotels were forced to furlough most on-property Sales Managers because so much demand for hotels disappeared with the pandemic, requiring any remaining team members to be responsible for market segments which previously were not their responsibility.
There's some good news and optimism from global marketing leaders looking for growth recovery in 2021. Nearly two-thirds of those surveyed by the CMO Council say they will boost marketing spend in the coming year and most don't expect to downsize or re-structure their organizations.
Seventy-three percent of chief marketing officers (CMOs) report they will rely on existing customers to fuel growth in 2021, rather than looking to develop new markets, according to Gartner, Inc. The inaugural Gartner CMO Strategic Priorities Survey 2021 shows that 39% of CMOs plan to increase sales of existing products to existing customers, while 34% will introduce new products to existing customers in 2021 (see Figure 1).
The American Hotel & Lodging Association (AHLA) today released "AHLA's State of the Hotel Industry 2021" outlining the forecasted state of the hotel industry in 2021 and into the immediate future. The report examines the high-level economics of the hotel industry's recovery, the specific impact on and eventual return of business travel, and consumer travel sentiments.
The Global Tourism Crisis Committee has met for the first time in 2021. Organized by the World Tourism Organization (UNWTO), the cross-sector body met in Madrid during the 113th session of the UNWTO Executive Council to advance solid plans to restart tourism.
The Global Business Travel Association (GBTA), the world's largest business travel association, has released the results from its 15thcoronavirus poll, the first in 2021, to measure the impact on business travel following the onset of the pandemic last year.
I see myself as a yogini, first, revenue optimist second. Having spent thousands of hours centering my mind, body and soul- my professional career within the revenue and consulting space has also benefitted immensely from the cognitive gains of daily yoga.
By Thomas Mielke – Managing Director, AETHOS Consulting Group London
The corona crisis is not without its effects on the leadership style of managers. This was not only revealed by a recent Xing survey, but also confirmed by Thomas Mielke, partner at the international HR consultancy AETHOS Consulting Group.
Year-end U.S. data shows that less traveled markets have generally made more progress in regaining hotel demand. In fact, a majority of states ended 2020 with room demand levels approaching normal, seasonal lows.
The U.S. hotel industry reported all-time lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR. In addition to historically low absolute levels in the aforementioned metrics, average daily rate (ADR) came in lower than any year since 2011.
We live in extraordinary times. There are only a limited number of periods in America's 245-year history which have been as transformative as 2020 (i.e., 1776, 1865, 1929, 1945, 1968, 2001). The confluence of a global pandemic, mass civil disobedience, and the transfer of power will undoubtedly affect how we live and work in 2021 and beyond.
A new year brings the reality of a COVID-19 vaccine closer and those dreaming of travel may soon be able to take the trips they plan for in 2021. Given the disruption to the travel industry brought on by the pandemic - leading to reductions in the amount of traveling done last year - what has happened to travel interest among Brits and Americans during that time? Throughout the course of 2020, despite restrictions and lockdowns, more than two in five Brits said they were still interested in travel (43%).
The COVID‐19 pandemic will no doubt drastically change the way business gets done moving forward, especially when it comes to travel. Microsoft co‐founder Bill Gates has even predicted that over 50% of business travel will go away permanently now that remote work and virtual meetings have become the norm.
Despite continuing lockdowns, Europeans are progressively interested in trips during the second quarter of 2021 as COVID-19 vaccines are rolled out. That is according to the latest report from the European Travel Commission (ETC) "Monitoring Sentiment for Domestic and Intra-European Travel - Wave 4" featuring data collected in December 2020.
Wellness tourism, one of the fastest growing tourism segments globally in the pre-COVID era, is expected to reach greater heights post-COVID as the pandemic has been a wake-up call for people - never before has health & wellness been more important than it is today.
By Ron Yariv – International Entrepreneurship / YARIV @ Hospitality Flavor
The pandemic in 2020 affected the hospitality industry severely, as we have never seen before. The effects have been even greater than what we saw in 2001 and 2008. This mega event has shaken all our assumptions about traveling, managing hotels, and dealing with customers and hotel owners, management companies, lenders, banks, and team members.
John Fitzpatrick has weathered multiple crises in his more than three-decade career in the hotel industry. He opened his first hotel in New York City during the Gulf War and owned three by the time 9/11 happened.
A major lesson we have all learned from COVID is to look forward, not backwards, as to where the future of career opportunities will be. Two major industries are undergoing fundamental change with no clear vison in sight as to a final destination.
The COVID-19 pandemic brought the global tourism industry to a screeching halt in 2020. With vaccines starting to be rolled out, there is hope international travel can resume soon, but exactly when — and how — is the million-dollar question.
By Jefrey Walter – Dynamic leader|Food and Beverage & Culinary Management|Revenue Optimization
An indispensable solution is "BE PREPARED". We have seen a crisis such as the COVID- 19 like never before, which will help us understand the importance of preparation and to act in accordance. The Hospitality industry was majorly hit, however, some food and beverage businesses tend to modify and adapt to the transitional changes and are successful.
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, the Anaheim-Santa Ana market's occupancy fell roughly five points from 69% in 2008 to 64% in 2009.
The global tourism sector is starting the new year prepared to #RestartTourism when conditions allow, with the World Tourism Organization set to again bring together leaders from across the public and private sectors.
By now, we're all well aware of the dire state of COVID-related affairs still facing many tourism and hospitality operators around the world. Specifically for hotels, some of experienced victories by feeding the summer staycation crowds while others have yet to open or are operating on barebones staff.
Airbnb Chief Executive Officer Brian Chesky on Thursday predicted travel would permanently change due to the pandemic with people seeking out thousands of smaller cities and spending more time visiting friends and family.
Like many of you, I suspect, I didn't have the energy to make resolutions for this year. After all, I was forced into enough changes in 2020 that I'm still adapting to, personally and professionally. It felt right not to put any additional pressure on myself to read more, exercise more, be more organized or drink less.
The latest edition of the Pulse Report, which tracks activity in the month of December, shows that the majority of markets are continuing to feel serious effects of continued uncertainty amongst bookers due to rapid rises in COVID cases across the globe.
Comparing the number of deaths in European countries between the first wave (March-June 2020) and the second wave (September-December 2020), we observe that several countries endured more deaths (per one million people) during the second wave than during the first.
Maria Puetz-Willems and Andrew Sangster about Hospitality, Covid-19 and the Brexit at the beginning of 2021. Maria Puetz-Willems is the founder and editor-in-chief of hospitalityInside.com, a bilingual (German-English) online trade magazine for the international hotel industry.
In December, Scandic's average occupancy rate was approximately 15 percent with continued weak demand in all markets. Ongoing rent negotiations have thus far led to agreements for rent reductions and offers from landlords totaling approximately 850 MSEK.
The HVS U.S. Hotel Franchise Fee Guide provides a comparative review of various hotel franchises based on their applicable franchise fees. The selection of an appropriate franchise affiliation affects a property's ability to compete in its local market, generate profits, and achieve a distinguished image and market orientation.
Gloria Guevara, WTTC President & CEO, said: "WTTC welcomes this major step by the UK government which opens the doors to travellers arriving into England with proof of a negative COVID-19 test, no matter what the type of test they take.
On January 13, Remington Hotels hosted its first virtual "Hybrid Meetings Education Forum" attended by over 200 attendees. The event, co-hosted by several of Remington's leading partners in the meetings and event space, showcased Remington's updated processes and best practices, while also reinforcing its commitment to helping meeting planners navigate hosting events in response to the new normal.
By now, we know that SARS-CoV-2, the virus that causes COVID-19, can and will continue to move around the globe. Even as the COVID-19 vaccine begins to roll out, experts caution that preventative measures will remain necessary.
The need to be reassured that your night's stay is cleaner than ever has never been this critical before in the hospitality industry. With the ongoing Covid-19 pandemic, heightened measures for cleaning and sanitization need to be imposed, as the safety of both the guests and staff remains paramount in this so-called 'new normal.
Before the pandemic, the Coachella Valley typically welcomed over 14 million visitors annually. The tourism industry generated more than $7 billion in economic impact and supported 53,000 jobs in 2019.
Boston's occupancy levels have been generally stable and well above their 20-year average since 2011. The year-end 2019 level of 75.6% was meaningfully higher than the longer-term average of 70.2%. RevPAR increased at an average annual rate of less than 0.
By Jim Butler – Partner, Chairman, Global Hospitality Group?
We have a new PPP Loan authorization bill out of Washington, after months of political wrangling. Congress could have done more, but they did provide for up to $2,000,000 in additional forgivable loans per borrower, along with provisions which specifically cater to the hospitality industry.
U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on the announcement that the Centers for Disease Control and Prevention will issue an order requiring a negative COVID-19 test before boarding an international flight to the U.
The World Travel & Tourism Council (WTTC) has launched its new mental health guidelines for the Travel & Tourism sector, which have been compiled to support businesses of all sizes to support the mental health of their employees.
December U.S. monthly meetings and events volume decreased 39 percent over the previous month, according to the latest data from Knowland, the leader in group hospitality analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues.
Coronavirus has changed travel in so many previously unimaginable ways. There's the visible, like having to wear masks on flights or needing to show a negative Covid test result before you're allowed to enter a country.
INNSiDE Manchester, part of Meliá Hotels International, has partnered with one of the UK's leading technical event production and AV hire companies, Sterling Event Group to launch Manchester's first virtual event production studio in a hotel.
Centara Hotels & Resorts, Thailand's leading hotel operator, is playing a key role in helping to restart the Asian tourism industry, after its popular beachfront retreat on Sri Lanka's stunning southwest coast was selected to take part in an innovative new initiative to safely reopen the island to inbound visitors.
The number of people busting out of their countries will start creeping up this spring and rise higher by mid-year, travel industry experts predict, as vaccines and risk-based safety measures are rolled out more widely and spiking coronavirus cases around the world begin to fall once again.
As we emerge from a year of uncertainties, one business reality seems crystal clear: Hybrid meetings and events will be critical in the near-term. To address this dramatic shift in how people meet and celebrate, Hilton is introducing a set of Hilton EventReady Hybrid Solutions.
By Ajay Mehtani – Senior Vice President Asset Management South Asia at HVS Anarock
A crisis is often needed to make drastic changes and the ongoing pandemic is one of the most challenging crises that the world has faced since the Second World War. The COVID-19 outbreak came in suddenly, swept across the world and changed us in an unprecedented way - not only our businesses but even the way we live.
This past year has been a tough one; a year which was, for many, filled with suffering and loss and I for one, alongside most others, could not wait for 2021 to commence. In reflecting on the last 12 months, I have consciously decided to adopt a different mentality for what lies ahead.
Like many people, I returned to my desk this week after the now-familiar five-second commute between the kitchen and my office at home and pondered what the New Year is likely to bring the UK hotel industry.
We can surely look forward to 2021 with an element of optimism even if we know we are not quite where we would like to be, just yet. 2020 turned out to be hospitality's annus horribilis - despite always trying to keep a sunny disposition, there is no point in pretending otherwise.
Is COVID-19 the Armageddon for the hotel industry? That's the first question I asked Dr. Donald W. Wise, co-founder and senior managing director of Turnbull Capital Group. With over 36 years of investment banking experience in the hospitality industry, he and this firm have been involved in roughly $20 billions of advisory, consultation, note sales, preferred equity and debt placements, and transactional engagements on both the buy-side and the sell-side.
The turmoil of 2020 has affected all of us - every person, company and industry - many in profound and even tragic ways. The hospitality sector is no exception and in fact has endured one of the most harrowing challenges in its history.
Addressing a topic on the mind of everyone in the travel industry, Dr. Anthony Fauci told Newsweek that it is "quite possible" that Covid-19 vaccinations could become mandatory in order to travel to other countries.
In 2018, social scientist Roger Tyers pledged to stop flying for work and leisure. Soon afterwards, he won a research fellowship that included fieldwork in China. So he decided to take the train from Southampton to Shanghai, a journey of almost two weeks.
Expectations for 2021 are high. Earnings estimates are ticking upwards, the stock market continues to crest, and people talk of a "Roaring '20s" boom as Americans emerge from their COVID cocoons to spend, go out, and travel.
One of the defining features of the coronavirus pandemic for working professionals has been the huge growth in communication via platforms such as Zoom. Where previously workers would meet face-to-face, the shutdown in travel and of workplaces has forced so many of us to converse virtually instead.
Most people in the tourism industry are more than willing to say adieu to the year 2020. The twenty-first century's third decade began with extremely high hopes. A mere year ago, no one could have conceived of the fact that by March of 2020 the tourism industry would have been in shambles.
By Paul Barron – EVP Marketing, Partnerships & Commercial Operations at Amadeus
The hospitality industry is navigating through a time of unprecedented change. The shock of COVID-19 pushed what was once considered preferential traveler expectations into industry standards faster than anyone could have imagined.
Hotels for me have always been an enigma. At the forefront, there is glamour, lifestyle, beautiful and functional spaces, interiors which one wishes in their own homes and a space that lets you be; And behind the scenes, it is a factory swarmed with people busy conducting various chores like a clockwork.
Hospitality union Unite Here has called Omni Hotels & Resorts' use of millions in Paycheck Protection Program (PPP) funding into question, claiming the luxury hotel chain has failed to rehire workers in line with PPP provisions.
The pandemic has been a great reset button for our industry, but its long tail is only now unveiling itself. Corporate guests won't be back to their 2019 levels by at least the spring of 2021 - groups will take longer still - while many leisure guests are either hunkering down for financial reasons or because they are still fearful of viral spread.
COVID-19 took the world by surprise and has had a drastic effect on not only the way business is done but also on how to survive. With many businesses shuttering their doors due to government-ordered lockdowns, coming up with ways to safely reopen was top on the priority list.
It's been a memorable year for hotel developers, though most would rather forget it. Bereft of financing and severely lacking in clarity over the industry's trajectory, new hotel projects came to a sudden halt in the U.
U.S. hotel profitability fell back to levels seen during earlier months of the pandemic, and year-over-year declines worsened from the previous month, according to STR's November monthly P&L data release.
After a tumultuous 2020, hotels are expected to remain challenged well into 2021, even with cost-saving Covid-era protocols like streamlined dining options and reduced housekeeping likely to extend into the coming year.
Now that coronavirus vaccines are starting to roll out in the US and abroad, many people may be dreaming of the day when they can travel, shop and go to the movies again. But in order to do those activities, you may eventually need something in addition to the vaccine: a vaccine passport application.
2020 will go down in the history books as the air transport industry's most turbulent year to date, with massive fluxes in passenger volumes globally due to the Covid-19 pandemic. Runways emulating plane graveyards served as a visceral reminder of the vulnerable economics of the air transport industry.
As a fresh round of stricter COVID-related guidelines grip many parts of the world heading into the new year, the hotel industry is still feeling and reeling from the sting of the pandemic, though breakthrough vaccines could be the antidote to spur devitalized demand.
Now that coronavirus vaccines are starting to roll out in the US and abroad, many people may be dreaming of the day when they can travel, shop and go to the movies again. But in order to do those activities, you may eventually need something in addition to the vaccine: a vaccine passport application.
By Rick Garlick – Vice President, Strategy Consultant at Magid
Even prior to COVID-19, the travel experience has always had it stress points, commonly referred to as 'friction.' Friction occurs anytime a customer is frustrated, uncomfortable, confused, angry, impatient, or simply has to expend much more effort than they expected.
There were a few places Roland Le felt comfortable sleeping in London: the doorway of shops he knew were closed and a wooded area near the city's canal. Still, Mr. Le, who became homeless after he lost his job as a cleaner during the pandemic, never quite relaxed.
If you need confetti-spraying machines, free-flowing champagne and noisy concert halls to help you mark the start of a new year, New Year's Eve 2020 probably won't be for you. With Dr. Fauci and the CDC explicitly advising against mass gatherings in the U.
Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO), the owner of Long-Term Relevant Real Estate? in the hospitality sector, announced today that it has completed a series of balance sheet enhancing transactions that include: extending the waiver period of the financial covenant tests on the Company's $500 million undrawn revolving credit facility, $185 million of funded term loan facilities and $205 million of outstanding private placement senior notes ("Unsecured Debt Facilities"); addressing its remaining near-term maturities; providing resolution with the special servicer on the mortgage loan secured by the Hilton Times Square; and, reducing the Company's monthly cash burn.
Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that the Company has secured a strategic financing commitment from funds managed by Oaktree Capital Management, L.
2020 will go down in history as the year that changed the world as we knew it, in more ways than one. The Indian hotels sector sailed smoothly into January 2020, after a record year in 2019, with 2020 set to be 'even bigger', however, the onslaught of COVID-19 pushed the sector into a tailspin.
Singapore to Ease Border Restrictions on Business Travellers, Myanmar Resumes Domestic Flights on 16 December, First Phase of the China-Laos Expressway has Opened on 20 December, Thailand Fully Open for Travel and Tourists Can Apply for Special Tourist Visa.
One of the most worrisome aspects of how COVID-19 has affected the hotel industry is that we have had to furlough many of our best people. This doesn't necessarily have to be the case, though. My hope in writing about the following management company is that hotel owners and operators can see that often a more bullish approach can work to maintain property solvency and even grow topline revenues in a depressed travel landscape.
In April 2020, as part of the significant economic damage caused by COVID-19, hotel average daily rate (ADR) in China, Europe, and the United States dropped 40% below pre-pandemic levels. Since that point, rates in all three regions have improved, but hotels in China are much closer to reaching pre-pandemic ADR.
After the events of 2020, quite a bit of the near-term hotel industry outlook is decidedly better, which is not hard to imagine. But just like with all recoveries, the outlook varies by class, location and customer type.
Meeting on the occasion of the Global Tourism Crisis Committee, virtually from Lisbon, Portugal, on 9 December 2020, to accelerate the coordination of international cross-border travel principles and protocols in view of a safe and seamless restart of tourism.
Increased privacy and flexibility are two of the stand-out trends that leading data and analytics company GlobalData notes will shape the lodging industry in 2021, alongside longer stays, improved hygiene procedures and more no-touch technology.
The Global Business Travel Association (GBTA), the world's largest business travel association, hailed the passage by Congress of a new round of relief funding for Americans and for reeling businesses, including the global business travel industry.
As the daughter of an astrologer, I grew up learning about the lessons we can find in the skies above us. Though I'm not sure how much of it I prescribe to, I do find it interesting, and at times, an eerily accurate depiction of my life.
In what now feels like a distant time, when business travelers were jet-setting around the world to attend meetings and events, some would tack on a couple of extra days to explore and enjoy the destination - a phenomenon that (for better or worse) has been dubbed "bleisure travel.
Gloria Guevara, WTTC President & CEO, said: "While protecting public health is paramount, blanket travel bans cannot be the answer. They have not worked in the past and they will not work now. If a comprehensive and quick turnaround testing regime were in place at airports across the country to test all travellers before they depart, it would ensure only those infected with COVID-19 are isolated and are prevented from travelling.
By Kimberly Yoong – Analyst, Capital Markets - Continental Europe at Cushman & Wakefield Hospitality
The impact of COVID-19 has been felt far and wide; across industries, the global pandemic has pushed companies to temporarily shut their offices and shift to remote working. In particular, the hospitality industry had been hit hard and fast, with many employees placed on furlough or being laid off.
Another day, another podcast. This time, Larry and Adam regroup with Matthew Stephens of eHotelier for a 15-minute discussion of what hoteliers can do during Q1 2021 which may be perhaps one of the most erratic stretches amidst the ongoing pandemic.
2020 has been an incredibly tumultuous year within the restaurant industry. Due to the pandemic, the industry has seen closures, bankruptcies, acquisitions, and a complete shift in the way guests interact with restaurants.
By Sasha Merkac – Cryptocurrency enthusiast and a SEO expert at Kriptomat - a European blockchain company.
The COVID-19 pandemic has sent the hospitality sector, among many other industries, into a tailspin. The resulting impacts of the outbreak have put severe pressure on the sector's normal operations. Among the areas that have been affected in the hospitality industry is consumer experience.
In the past few months, several state governments have been proactively lending a helping hand to the tourism & hospitality sector in their respective states, providing various relief measures to help the sector stay afloat during these trying times.
COVID-19 has presented a challenge for the hospitality industry, unrivaled by the likes of any challenge that came before it. Yet, despite global shutdowns and downturns in travel, there is no shortage of hotels thinking outside the box to attract guests—safely and at a social distance.
By Cihan Cobanoglu – McKibbon Endowed Chair Professor & Director of M3 Center at the University of South Florida Sarasota-Manatee
As COVID-19 spreads person to person through respiratory droplets, U.S. Center for Disease Control and Prevention recommends that everyone wears a mask when they are around other people (CDC, 2020). As such, many companies have enforced mask wearing policy for their customers and employees (Markowitz, 2020).
As the end of the year approaches we look back at 2020 and discuss some of the most pressing issues that affected the sector: Travelodge, the voice of the sector, Airbnb's IPO amongst others. This episode was recorded in December 2020, before the current national lockdown in England.
In an ever-changing environment, how can the hospitality industry transform, adapt and build for the future of travel? A deep understanding of motivations and behaviors is crucial to predicting how consumers and corporations will view lifestyle pursuits and experiences in the years to come.
We were delighted to connect with Adria Levtchenko, CEO of PurpleCloud Technologies, for a discussion on the future of hotels during this ongoing pandemic during the latest episode of the podcast she hosts, Hotel Happy Hour.
Thayer Ventures Acquisition Corporation (the "Company" or "TVAC"), a special purpose acquisition company, today announced the closing of its initial public offering of 17,250,000 units, including 2,250,000 units issued to the underwriters upon full exercise of their over-allotment option, at a price of $10.
As part of ongoing steps to help instill confidence and provide exceptional experiences and solutions for meeting professionals and attendees, Marriott International has identified health protocol options, including COVID-19 testing, which meeting professionals may select for group meetings at certain Marriott branded hotels in the United States beginning in January 2021.
Meliá Hotels International (MHI), owner and operator of 390 hotels around the world, has announced the creation of group experiences, which adapt to the personality of each traveler at sub-brands including Gran Meliá, Paradisus by Meliá, ME by Meliá and Meliá Hotels & Resorts.
By Ryan Hamilton – Co-Founder, SalesAndCatering.com and Bluebuzzard Technology Group
Oh, what a year it has been. That statement may mean something different to each of us, but surely, we can agree on the general sentiment it provides. If 2020 felt both like a whirlwind and the slowest year on record, I can relate.
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.
By Korosh Farazad – Founder & Chairman of Farazad Group of Companies and Member of Board for Trinity Hospitality Group
With US and Europe hotel occupancy rate at its lowest, hospitality companies have to adapt their policies to fit this unprecedented time of COVID-19 pandemic. Hotels have acted so their loyalty programmes can remain at a satisfactory level for customers.
As we close 2020 and look to 2021, Red Roof?, the leader in upscale economy lodging, is continuing to support some of the pandemic's most affected communities: students, first responders, healthcare workers and remote workers with programs tailored just for them, available at participating, select properties.
The COVID-19 pandemic and resulting restrictions on domestic and international travel, economic activity, and individual movement are having an unprecedented impact on the lodging and tourism industry in Latin America and worldwide.
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.
As the world marks the one year birthday of COVID-19, it is reeling from the force of the first wave, battling the second and bracing for a third. Yet, the impact of this pandemic on the real economy (goods and services) remains uncertain.
The Boutique Lifestyle Leaders Association (BLLA), continues to meet its goal of providing clarity to the boutique hotel industry through research and surveys. This 8th annual Boutique Hotel Sentiment Survey included questions relating to operational changes addressing COVID-19 as well as having a shorter questionnaire, factoring in the industry's intense challenges this year.
AAA Travel expects the vast majority of Americans to stay home this holiday season. Public health concerns and travel guidance are influencing their decisions not to travel over the year-end holidays, a period that typically sees high demand for vacations.
The pandemic has fundamentally changed the way we think and act, leading us to reflect on the motives and pursuits that continue to inspire us to see the world. Following a tumultuous year in tourism, our latest trend report delves into rapidly accelerating trends and forecasts the movements that will define international travel in the years to come—from slow holidays and emerging regenerative destinations, to the latest technologies employed by operators and airports.