London's short-term rental industry recorded a month-over-month increase in occupancy but declines in average daily rate (ADR) and revenue per available room (RevPAR), according to January 2021 data from STR.
Whilst we appreciate the need to be careful about when and how the hospitality industry, and specifically the accommodation sector, reopens, we also need to make sure that no business is disadvantaged in the meantime and that we work together to make 2021 a year to make up as much of the lost ground caused by the pandemic as we can.We have four specific asks of Government:
STR's preliminary January 2021 data for Berlin hotels showed slightly higher performance levels compared with the previous month but at overall low levels.
Latest research shows the ongoing restrictions to travel and blanket quarantines has seen the UK suffer greater GDP losses than many of its European counterparts which have less stringent barriers in place, says the World Travel & Tourism Council (WTTC)
Glasgow's hotel occupancy on the books is pushing 90% for the UN Climate Change Conference, and London is showing increases around two key sporting events, according to data from Forward STAR, STR's forward-looking benchmarking solution.
This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socio-economic developments.
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. The results are somewhat surprising as in some instances they are more optimistic than what we have experienced elsewhere in CEE.
London's short-term rental sector reported its lowest levels in occupancy and revenue per available room (RevPAR) since the summer, according to December 2020 data from STR.
STR's preliminary December 2020 data for London hotels showed slightly higher performance levels compared with the previous month. Year-over-year declines remained significant.
STR's preliminary November 2020 data for London hotels showed lower levels compared with previous months.
The COVID-19 pandemic has imposed a new set of challenges for hoteliers, making it critical to ensure that they are leveraging the right tools and technology such as CRM solutions. NextGuest's new Customer Data Management Platform provides an unmatched centralized platform where various data sources are integrated, providing hoteliers with one single source of truth.
Today every guest generates a massive amount of data. But how can these be used profitably? Modern hoteliers, especially in a post-COVID world, must be able to make profit from the opportunities data offers – also to surpass times of crisis in which manual processes are even less viable due to the lack of staff.
In the coming year, customer relationship management (CRM) will play a pivotal role in re-establishing guest trust and, perhaps more importantly, igniting long-term guest loyalty. This will prove especially paramount within the group business/event sector of hospitality, as sales teams are expected to manage an increasingly dynamic workload.
The short-term rental sector in London reached its highest occupancy level since February, according to October 2020 data from STR.
Hotel insolvencies caused by the pandemic are likely to increase through 2021 according to experts speaking at a global webinar held 24 November organized by HVS, AlixPartners, Bird & Bird and EP Magazine.
In the fight to survive, hoteliers must throw everything they have at capturing demand in the months ahead. Combining their expertise with leading-edge technology that provides actionable business insights will allow them to gain a competitive edge.
The coronavirus has swept through the travel industry like a tidal wave and scarred our sector for years, perhaps even decades to come. In this context, hotel distribution has to reinvent itself by learning lessons from the past and envisioning what travelers' behavior is going to look like in an uncertain future.
STR's preliminary October 2020 data for London hotels showed relatively flat occupancy compared with the previous month. Year-over-year declines remained significant. Comparison with October 2019:
Hotels are suffering amid a dramatic drop in demand. the covid-19 crisis hit hard the Greek hospitality sector as travel for business and leisure dried up. Our analysis shows that through the end of September 2020, room revenue of hotels in Athens and Thessaloniki dropped y-o-y by 79% and 67% respectively. Total revenue of city hotels located elsewhere declined by 63% y-o-y YTD Q3 2020, while resort hotels registered a staggering drop of 79% y-o-y during the same period.
In the bleakest outlook since benchmarking began, hotel occupancy rates in 2021 are forecast to be 55% across the UK, and could take four years to return to pre COVID-19 levels. This is a stark reality for a once optimistic industry, which had seen a decade of growth post the global financial crisis.
Infor is dedicated to working with industry leaders to ensure lasting resilience in the coming era, post-COVID. Revenue management and pricing solutions will play an integral role to ensure success. Learn how Infor's technology solutions for the hospitality industry can help organizations create stability, gain clarity, and form actionable and effective strategies for the present and the future, too.
Our global hospitality industry is facing its greatest challenge in modern history—and also its greatest opportunity for transformational change. It would seem 2020 dealt us all a losing hand, but there's still a game to be won.
Today's hotel revenue departments are scrambling to determine the best sources of data to help them make informed decisions around operations, sales, and marketing. Fortunately, top-of-funnel data with deeper insights into traveler intent is available to help revenue teams get a real-time glimpse into current and future demand.
Merilee Karr, Chair of the UK Short Term Accommodation Association (STAA) and CEO of UnderTheDoormat, has written to the Chancellor, Rishi Sunak, on behalf of the STAA's members asking for visitor accommodation businesses to be given additional government support as it faces into an autumn and winter season where tighter travel and hospitality restrictions will impact jobs and businesses.
STR's preliminary September 2020 data for London hotels showed lower occupancy but higher room rates when compared with August. Year-over-year declines remained significant. Comparison with September 2019:
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