Bill Navas, a 30-year hotel industry veteran has launched Rich-Port Hospitality Development, an innovative advisory firm primarily focused on executing capital projects for clients. Rich-Port also assists institutional investors with pre-acquisition due-diligence and provides hotel companies with outsourced brand representation and technical services.
Singapore to Allow Visitors from Australia and Vietnam from 8 October, Seychelles Review Travel Advisory and Open Borders to All Countries from 2 October 2020, Bandar Malaysia to Start with Over Twelve World-class Towers Worth MYR10 Billion in 2021, Australia Government Allocates AUD231 Million to Domestic Tourism.
Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has terminated the management agreements for 122 hotels with Marriott International, Inc. (NYSE: MAR), or MAR. As previously announced, SVC sent a letter requesting MAR advance $11.0 million to cover the cumulative shortfall between the payments SVC had received to date and 80% of the cumulative priority returns due to SVC for the eight months ended August 2020.
Fantauzzo Art Series Hotel Acquired by Ghassan Aboud's Crystalbrook Collection for AUD75 Million, Japan to Allow Entry for All Non-tourist New Visa Applicants from 1 October, Sabah Tourism Board Launches Domestic Travel Stimulus to Help Tour Operators, Thailand Approved Special Tourist Visa.
Covivio completes acquisition of ex-Boscolo portfolio from Varde Partners, Henderson Park acquires Lagoas Park Hotel in Lisbon from Kildare Partners, Mata Capital Sells Off-Plan Paris Hotel, NK2N Hotels acquires The Moorings Hotel in Fort William, Scotland.
Singapore Increases MICE Event Attendees Limit to 250 from 1 October, South Australia Unveils AUD20 Million Boost for Regional Tourism, South Australia Unveils AUD20 Million Boost for Regional Tourism, Accor to Manage AUD300 Million Port Douglas Resort under Fairmont Brand.
The clear-cut measurability of KPIs is alluring. Occupancy percentages, profit indicators, return on investment. These are the type of traditional performance measures on which many hoteliers rely when it comes to evaluating hotel performance. Unfortunately, taken in isolation, they are now thought to provide misleading signals, failing to adequately support the needs of today's organizations.
HVS senior management across the globe hosted a webinar on September 8, 2020, to offer expert perspectives on key hospitality topics including how the COVID-19 pandemic has affected their respective regions and the kind of recovery hoteliers can anticipate, as well as the long-term changes the sector is likely to experience. Opened by CEO Stephen Rushmore and moderated by HVS London Chairman Russell Kett, the webinar also included a straw poll, in which 51% of the over 1,800 global participants said they expected RevPAR (rooms revenue per available room) to return to pre-COVID-19 levels during 2023, with a further 23% anticipating a return in 2024.
"Most of my financial skills I've learned on the job. That's why I would advise others interested in my career path not to be afraid and trust that you will do the same."
In a buoyant message to a webinar audience of some 300 hotel operators, investors and owners, held 1 September 2020, Israel's Minister of Tourism was confident the country's hotel sector would make a full recovery post-COVID, because historically the country had done so before.
A devastating $155 billion looks set to be lost from the U.S. economy due to the collapse of international travel during 2020, according to latest research conducted by the World Travel & Tourism Council (WTTC).
A devastating €36.7 billion looks set to be lost from the Italian economy due to the collapse of international travel during 2020, according to latest research conducted by the World Travel & Tourism Council (WTTC).
A devastating €38 billion looks set to be lost from the German economy due to the collapse of international travel during 2020, according to latest research conducted by the World Travel & Tourism Council (WTTC).
A staggering €48 billion looks set to be lost from the French economy due to the collapse of international travel during 2020, according to the World Travel & Tourism Council (WTTC).
A staggering £22 billion looks set to be lost from the UK economy due to the collapse of international travel during 2020, according to the World Travel & Tourism Council (WTTC).
Vantone Acquired Queen's Hotel in Sai Ying Pun for HKD310 Million at 30% Discount, Singapore Announced Additional SGD8 Billion Covid-19 Support Measures and Another SGD320 Million to Boost Tourism Sector, Indonesia to Establish Travel Corridor for Essential Business and Diplomatic Trips with South Korea, India Announces USD500 Million Assistance for Major Connectivity Project in Maldives.
Tayrona Obtains Majority Stake in Harbour City Project in Malacca from Hatten Land as Part of USD323M Deal, Kiên Giang to Build a New Central Square on Phú Quốc, Mixed-Use Project is Due to be Completed by 2020 in Yangon, Myanmar, Tourism Investments in Philippines Reached PHP663 Billion in 2019.
Green Lane Travel between Singapore and Malaysia to Commence on 17 August, Bali’s “Golden Triangle” Port to Open in 2021, Itami Airport in Osaka Completes Four-Year Renovation, Ho Chi Minh City Considering VND400 Trillion Public Transport Plan.
Hospitality Financial and Technology Professionals (HFTP®) has just released a new format for the USALI, 11th revised edition: a digital version that is available through a subscription service. The popular guide is widely used internationally and its primary purpose is to offer operating statements formatted to provide hotel owners, managers and other interested parties with operational information pertinent to the lodging industry. The USALI was first published in 1926 and is currently in its 11th edition. The subscription will make it easy to access on multiple digital devices.
Weave Co-Living Expands into Singapore with SGD500 Million Joint Venture, Singapore and Malaysia Aim to Commence Cross-Border Travel From 10 August, Japan Plans to Ease Travel Restrictions for Ten Asian Countries.
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