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Performance – Coronavirus: Impact on the Hospitality Industry

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Coronavirus: Impact on the Hospitality Industry

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.

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AH&LA Report: US Hotel And Travel Outlook In 2021

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.

STR: 2020 officially the worst year on record for U.S. hotels

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.

Kalibri Labs Ahead of the Curve: Miami, FL

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.

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China Much Closer to Recovering ADR Than Europe and the U.S.

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.

BLLA Releases the 2020 Boutique Hotel Sentiment Survey

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.

Baird/STR Hotel Stock Index jumped 31.0% in November

The Baird/STR Hotel Stock Index was up 31.0% in November to a level of 4,354. Year to date through the first 11 months of 2020, the stock index was down 17.4%. "Election clarity and several positive vaccine updates caused a sharp reversal in investor expectations and led to significant outperformance for hotel stocks during November," said Michael Bellisario, senior hotel research analyst and director at Baird.

Deloitte reports update on the leisure sector

Despite registering a weak uptick for the second consecutive quarter, the Deloitte consumer confidence index continued to trend at record low levels in Q3 2020. The index gained one percentage point quarter on quarter, to -16%, as the partial reopening of the hospitality sector helped to brighten the mood of consumers during the summer months.

Whitebridge APAC Hotels Monitor, Issue 7

First and foremost, we are delighted to welcome aboard our new first mate in producing the Monitor series, HotStats — the global navigators of hotel performance data. In an operating environment marked by depressed revenue and expense structure fluidity, charting the top line just doesn't cut it.

Canadian Lodging Outlook Quarterly 2020-Q3

HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets.

NH Hotel Group reopens 75% of its hotels during the third quarter, maintains its cost base low and preserves nearly €500M in liquidity

Madrid - The swift reopening of hotels during the third quarter, with 75% of the portfolio open as of the end of September enabled NH Hotel Group to capture domestic demand across its key European destinations in the third quarter, so that revenue climbed from €30 million in the second quarter to €148 million in the third quarter.

Phuket’s Tourism High-Season Hopes Shattered in Policy Flip-flop

Thailand's leading resort island Phuket has come face-to-face with the reality that it is tourism high-season will not see a marked reopening to overseas travelers. In the wake of the dismantling of the 'Phuket Model' and refocus by the government on using Bangkok as a single international gateway, there is increasing alarm over the lack of a path forward for the island's rice bowl-tourism.

Hyatt Reports Third-Quarter 2020 Results

Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported third-quarter 2020 financial results. Net loss attributable to Hyatt was $161 million, or $1.59 per diluted share, in the third quarter of 2020, compared to net income attributable to Hyatt of $296 million, or $2.

Hilton Reports Third Quarter Results

Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its third quarter 2020 results. The following results reflect the material impact that the novel coronavirus ("COVID-19") pandemic has had on Hilton's business.

Scandic’s Interim Report Q3 2020 – Slow Recovery

Scandic's adjusted EBITDA improved compared with the previous quarter, increasing to a slight positive result, supported by low operating costs and government support. Occupancy was 36 percent, only half of what was normal earlier and below what is needed for sustained profitability.

PwC UK Hotels Forecast 2020 - 2021

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.

Japan Regional Markets: Recovery Leaders

As entry restrictions for international travelers in Japan remain in place, new trends in hotel performance have emerged. Recent data suggests a distinct preference for regional destinations, helped in part by the Japanese government's "Go to Travel" campaign to promote domestic travel and help boost local businesses.

Third Quarter Trading Update to 30 September 2020

Keith Barr, Chief Executive Officer, InterContinental Hotels Group PLC, said: "Trading improved in the third quarter, although progress continues to vary by region. RevPAR declined 53%, compared to a 75% decline in the prior quarter, while occupancy was 44%, up from 25% in Q2.

Q3 2020 revenue: 329 million euros down 63.7% like-for-like

Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: "Our performances during the third quarter point to a marked recovery of business during the summer season. The worst of the crisis is now behind us, but our main markets are still substantially affected by the measures rolled out to combat the health crisis.

Tourism After Lockdown: Taking the Pulse of Travel

STR's Tourism Consumer Insights team has been keeping a close eye on consumer trends around the industry during this truly unprecedented time. The twists and turns of the COVID-19 pandemic have contributed to seismic changes in tourism, which has included the cessation of international travel for some countries.

Europe’s Recovery From the Last Recession

Major economies in Europe, including the U.K. and those in the Eurozone, recently confirmed what we already suspected. Economies across the continent have entered an economic recession because of the impact of COVID-19—an impact that has been devastating for the hospitality industry.

COVID-19’s Impact on the Denver Lodging Market

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 Denver's occupancy fell roughly eight points from 65% in 2008 to 57% in 2009; this year, we forecast occupancy to drop from the 2019 benchmark of roughly 74% to 42%, reflecting a 32-point correction.

A Deep Dive Into Japan’s Road To Recovery

While many nations have lifted COVID-19-related limits on travelers, entry restrictions for international travelers in Japan remain in place. However, the Japanese government has launched a "Go to Travel" campaign to promote domestic travel and help boost local businesses.

JLL’s 21st semi-annual Hotel Investment Sentiment Survey

Historically the lodging industry has proved to be one of the most resilient industries in the world and there is no reason why the industry cannot recover from the COVID-19 shock. As one of the real estate sectors most dependent on individual mobility, travel restrictions and government-mandated lockdowns induced a dramatic decline in hotel occupancies across the world with performance hovering near 10% or even lower for the month of April.

Lessons from Disaster: COVID-19 and Chinese Hotels

Few industries have suffered more from the COVID-19 than hospitality and tourism, and China's hotel sector has many lessons to learn. In a thought-provoking exploratory study published recently, Dr Fei Hao, Dr Qu Xiao and Dean Kaye Chon of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University cast light on the fundamental impact of COVID-19 on the sector, and propose strategies for Chinese hotel firms to overcome their current difficulties and emerge ever stronger.

Global Tourist Numbers Down 65% In First Half Of 2020, UNWTO Reports

International tourist arrivals plunged 93% in June when compared to 2019, with the latest data from the World Tourism Organization showing the severe impact COVID-19 has had on the sector. According to the new issue of the World Tourism Barometer from the United Nations specialized agency, international tourist arrivals dropped by 65% during the first half of the year.

Horwath HTL Market Report: India Hotel Market Review: H1 2020

2019 had been one of the strongest performing years for the Indian hotel market in the past decade, uplifting hopes for even better performance in 2020. However, 2020 has been the toughest year in living memory and unfortunately looks to carry on the negative trend for the rest of the year due to the global pandemic.

Phuket Hotels Fight For Their Lives As Massive Economic Fallout Expected From Failure Of Domestic Tourism To Support The Industry

Phuket's hotel industry is reaching breaking point and drastic economic support from the government is needed for it to survive the high season, urge industry leaders. In the wake of the controversial "Phuket Model" international travel reopening scheme, reality is biting back as hotels in Thailand's leading resort island are unable to sustain operating viability based on domestic tourism.

Horwath HTL Hotel Market Sentiment Survey: Italian Hotel Market & COVID-19 Impact

Horwath HTL Italy conducted this survey in collaboration with the Italian Hotel Association to evaluate the current and medium-term impacts of Covid-19 on the Italian hospitality industry. In general, it is commonly expected a heavy drop of performances in the first semester of 2020 compared to 2019, with more than 49% of respondents expecting a decrease of more than 80% of Total Revenues.

Ahead of the Curve: Atlanta GA

Our goal is to provide essential data to the industry at a critical time to enable a comprehensive look into the impact of the pandemic with a focus on looking ahead toward the recovery. By understanding how the pandemic has impacted a market, industry leaders can begin to understand the drivers of the recovery in that market.

MMGY Global Declares “Stretch Season” An Extension Of Summer Travel Into Fall

The tourism industry has been rapidly transforming and adapting as travel seasonality and consumer trip-planning behavior have changed due to the COVID-19 pandemic. MMGY Global - the world's leading integrated marketing company specializing in travel, tourism and hospitality - has identified an opportunity to help bolster the travel industry and help Americans get back lost vacation time with "Stretch Season," extending the traditional summer travel season well past Labor Day into fall.

Report: Hotel Industry Facing Historic Wave of Foreclosures

A new national report shows that the hotel industry is facing a historic wave of foreclosures as the COVID-19 pandemic continues to devastate small business hotel owners and its workforce. Since the beginning of the pandemic the hotel segment has faced a historic number of delinquencies and is the most heavily hit sector of the commercial mortgage-backed securities (CMBS) market.

STR, TE Slightly Downgrade U.S. Hotel Forecast

Full recovery in U.S. hotel demand and room revenue remains unlikely until 2023 and 2024, respectively, according to the slightly downgraded STR and Tourism Economics forecast just released at the 2020 Hotel Data Conference.

IHG's Interim results to 30 June 2020

Throughout the crisis we have continued to act responsibly, doing all we can to support our hotel colleagues and owners, and create a clean, safe stay experience that we know guests can trust. The teamwork, dedication and care that our colleagues and owners have shown to adapt our approach is central to meeting the evolving needs and expectations of guests, as well as the communities in which we operate.

Electronic quarantine tags another necessary evil that will discourage travel plans, says GlobalData

The electronic quarantine tag recently introduced in Singapore has the potential to rattle the number of international departures from the country, which reached 16.8 million in 2019, as it is yet another aspect that will elevate consumer angst and postpone recovery for neighboring Asian destinations, according to GlobalData, a leading data and analytics company.

Horwath HTL Market Report: Mexico

The Mexican Market Report provides an insight of the current state of the Mexican economy, the tourism sector, and the evolution of variables that have a tangible influence on the hotel investment market amidst the COVID-19 pandemic.

Hilton Reports Second Quarter Results

Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its second quarter 2020 results. The following results reflect the material impact that the novel coronavirus ("COVID-19") pandemic had on Hilton's business.

Europe’s Summer Season Is at Stake, Can It Be Salvaged?

July and August are two of Europe's most important months for hotels with travellers spread across the continent on summer holidays. However, it is no secret that summer looks much different this time around for Europe due to the global impact of the COVID-19 pandemic.

Hyatt Reports Second-Quarter 2020 Results

Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported second-quarter 2020 financial results. Net loss attributable to Hyatt was $236 million, or $2.33 per diluted share, in the second quarter of 2020, compared to net income attributable to Hyatt of $86 million, or $0.

Accor First-half 2020: Immediate measures limiting Covid-19 crisis aftermath

Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: "The shock that our industry is experiencing is both violent and unprecedented. Against this backdrop, we have managed to limit the impact of the crisis: on our performance by taking immediate steps to protect our resources and, thanks to the Group recent years transformation and our sound financial structure; on our employees by implementing concrete and immediate support measures.

A Tale of Two Occupancies: Total Room Inventory vs. STR Standard

Occupancy has long been one of the key hotel performance metrics measured by STR. Reported on both a monthly and weekly basis, occupancy is easily calculated by dividing rooms sold (demand) by rooms available (supply), providing a straightforward representation of the percentage of rooms occupied during a given time period.

Canadian Lodging Outlook Quarterly 2020-Q2

HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets.

Horwath HTL Market Report: Barcelona (English & Spanish)

Barcelona is well-known for its quality of life. Creativity, cosmopolitanism and innovation are values that are associated with the city and make it very attractive to live, work or visit. In Catalonia in 2019, there were 20,737,029 travellers and 58,222,342 overnight stays, of which 8,517,891 travellers and 21,371,417 overnight stays were in Barcelona city, 41% of the tourists visiting Catalonia are going to Barcelona city.

Europe hotel performance for June 2020

Reflecting early reopening around the continent, Europe's hotel industry reported improved performance from May but at an all-time low level for a June, according to data from STR.Euro constant currency, June 2020 vs.

GBR Hospitality Newsletter 2020 Q2

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.

Horwath HTL Sentiment Survey: Greece Travel Sentiment Survey

Hotels and destinations need to overcome the initial shock of the Covid-19 pandemic and it's repercussions, and quickly understand the new environment within which they will need to operate. An environment with almost zero bookings, a crashed demand, increased operational costs, health & safety protocols and procedures, closed borders, different sentiments amongst people, different needs and a shortened season that will most probably become less that 80 days and mostly domestic-oriented.

Survey: 70% of Americans Support More Economic Stimulus to Help Reeling Travel Industry Recover

A new survey conducted by Morning Consult commissioned by the American Hotel & Lodging Association (AHLA) found that while Americans remain hesitant about traveling, they overwhelmingly support efforts by Congress to help the travel industry recover including helping hotels keep their doors open and bring back employees, as well as incentivizing Americans to travel again.

As Tourism Restarts, UNWTO Notes “Strong and Rapid” Governments’ Response to COVID-Challenge

Governments around the world have responded quickly and strongly to mitigate the impact of COVID-19 on their tourism sectors, new research from the World Tourism Organization (UNWTO) has found. As many destinations begin to ease restrictions on travel, the specialized United Nations agency has released its first Briefing Note on Tourism and COVID-19, illustrating efforts taken to safeguard jobs and lay the foundations for recovery.

Hospitality Experts Confident in Recovery of Primary Markets by Q4

According to the new research, 80% of HSMAI members expect to see signs of hotel recovery in their primary markets by Q4 2020. Still, many acknowledge that hoteliers will need to significantly adapt their business models to capitalize on this according to a new series of eBooks released by Amadeus, an industry-leading provider of hospitality technology solutions, in partnership with global hospitality organizations, Hospitality Sales and Marketing Association International (HSMAI), the Institute of Hospitality (IoH) and the Hospitality Professionals Association (HOSPA).

STR: U.S. weekly hotel performance update

Key highlights: Drive-to destinations continued to show strong weekend performance, with Myrtle Beach, S.C., recording an 83.4% occupancy level. Economy class hotels reached a 50.3% occupancy level for the week, while the Upper Upscale class showed the lowest occupancy level among the classes (22.

Baird/STR Hotel Stock Index rises 1.7% in May

The Baird/STR Hotel Stock Index rose 1.7% in May to a level of 3,232. Year to date through the first five months of 2020, the stock index was down 38.7%. "Hotel stocks were relatively flat in May, which reflected underperformance during the first part of the month but a sharp reversal in the back half of May as the broader re-opening trade gained momentum and stock prices recovered,"said Michael Bellisario, senior hotel research analyst and director at Baird.

FINN Partners Trend Report: The Future of Travel

The travel industry has endured many crises but very few were adequately prepared for a pandemic as devastating as COVID-19. What we are experiencing now is unlike anything that has gone before - this is a crisis everyone is learning to navigate in real time and the longer the lockdown and travel limitations go on, the louder the questions of 'what next?' reverberate through every business connected to tourism.

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