When the Waldorf Astoria Residences Miami opens in a 100-story tower on Biscayne Bay sometime in the mid 2020s, it'll be one of the tallest hotels in the United States. The downtown skyscraper will turn heads for another reason, too: around 60 percent of the hotel will be private residences that each start at $1 million. That's quite a hotel bill, even for a Waldorf Astoria.
California’s hotel development trends are showing the effects of both recovering demand as well as lasting pandemic challenges.
It's common that a downturn or slump in demand and revenue — something definitely experienced during the COVID-19 pandemic — delays new hotel construction and development, but in Europe the hotel pipeline continues to grow.
From re-imagined landmarks to Portobello boltholes and new hospitality hotspots, here’s your ultimate guide on the hottest, must-visit hotels that are opening in June 2021, just in time for the summer season to start. Editor Hamish Kilburn continues our VIP Arrivals series as international travel and hospitality open up once more…
Hotel investors believe the current environment will accelerate a trend of increased interest in select-service properties due to their streamlined cost structure.
The COVID-19 pandemic is making hotel owners reevaluate their strategies either because of the challenges the pandemic has caused or the opportunities it has created.
Both private and government buyers are finding real estate conversion opportunities with U.S. hotel owners who are reevaluating the highest and best use of their properties due to the COVID-19 pandemic.
The new Kayak Miami Beach will serve as an innovation lab for technologies like touchless check in, digital door locks, and a robust mobile app that will let guests connect with hotel staff virtually through their phones. (No more calling downstairs for more towels!)
Work is due to start on the world's first 'space hotel' in low Earth orbit in 2025 - and it will come equipped with restaurants, a cinema, spa and rooms for 400 people.
Hotel owners and financiers are confronting the phase-out of a longstanding interest rate benchmark as they address the impact the pandemic has had on borrowers' ability to repay loans.
Hotel owners and operators looking to pick up distressed assets have had to wait longer than previously expected, but industry experts believe those opportunities will arise later this year.
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.
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.
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.S. in March with the onset of the COVID-19 pandemic.
"London opens to you like a novel itself… It is divided into chapters, the chapters into scenes, the scenes into sentences; it opens to you like a series of rooms, doors and passages. Mayfair to Piccadilly to Soho to the Strand," writes Anna Quindlen in Imagined London: A Tour of the World's Greatest Fictional City
One feature of post-COVID New York City just may be large, hulking, dark buildings, a legacy of the hotels that have or will have closed permanently due to an extreme revenue shortage brought about by lockdowns that deprived them of their clientele.
The owner of more than 100 Marriott hotel properties is threatening to terminate its agreement with the chain and re-brand the properties with another company due to a payment shortfall.
For most hotels, this question would be an infinitely ludicrous question to ask: "Why are we seeing windows installed on a hotel?" It's like asking, "why is that football player wearing a helmet?" But this is no ordinary hotel. This is the highly-anticipated, fully-immersive Star Wars hotel, Star Wars: Galactic Starcruiser. When Walt Disney World Resort Guests check-in at the Galactic Starcruiser Terminal, they will no longer be at some stationary hotel in the middle of Central Florida. They will be carried off in a shuttle to the Starcruiser, Halcyon. In other words, Guests will be in space.
As fall approaches, there is a sliver of good news in the travel industry as many hotels continue their plans to open across the country and around the world. While it may seem like an inopportune time, costs to slow or stop construction altogether can be greater than those of moving forward (even if hotels operate at limited capacity).
To say that Covid-19 has hurt the hotel industry, along with travel as a whole, is something of an understatement.According to Hotel News Now, the news division of hotel research company STR, the sector has seen a loss of 5 million jobs since February in the United States alone. And Zachary Sears, a senior economist at Tourism Economics, part of research firm Oxford Economics, says that hotel occupancy in some instances is down 95% versus a year ago."Properties have been forced to close permanently because of the financial loss they've taken," he says.In fact, the American Lodging and Hotel Industry released a report on August 31 that indicates 65% of hotels remain at or below 50% occupancy. The same report states that consumer travel is at an all-time low and that only 38% of Americans say they are likely to take a leisure vacation by the end of the year. In normal circumstances, 70% of Americans take a vacation in any given year.Despite the bleak scenario and the continuing pandemic, there is a bright spot: from Europe and the United States to Africa, Asia and Australia, a spate of new hotels from bigger brands as well as smaller owners are set to open this fall and into the winter.