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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.

‘Workspitality’: Inspired but complex

By Katherine Grass

As hotels across the world continue to grapple with the pandemic, they are becoming increasingly creative in their approaches. Over the last few weeks we have seen a broad range of hotels announce that they are reimagining their spaces and services to offer rooms on a more flexible basis to business workers and leisure travelers looking for a change of scene.

Podcast: Professor Vicki Culpin: Bearing Up When The Chips Are Down

By Elton Mouna

Vicki Culpin is an author, a Ted talker and Professor of Organisational Behaviour at the world renowned Ashridge Executive Education Business School in Hertfordshire England. In this Podcast she discusses with Elton Mouna, and details practical examples of self-care in a time of crisis lead to resilience and to good quality business decision making.

2021 Will Be the Year of Patience

By Alan Young

This week, it was announced that two vaccine candidates have an over 90% effectiveness rate against the COVID-19 virus. This is incredibly good news for the travel and hospitality industry struggling under the weight of this unprecedented event.

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.

Lodging Recovery in Boston & Cambridge Driven by Leisure Demand as Market Faces Increases to Supply

By Sebastian Colella

As the United States faces a growing number of COVID-19 cases, surpassing 10 million in early November, lodging markets across the country continue to face unprecedented declines in demand. Through October, the Boston & Cambridge lodging market has experienced some of the steepest declines in demand and revenue across the country's top-25 markets according to STR.

Survival Of The Wisest – Embracing Wisdom Under Pressure

By Ramsay Rankoussi

Without a doubt, 2020 has been an unprecedented year … and it's not yet over. While it would be unfair to say that the hospitality and tourism sectors were hardest hit when the struggle has been global, this year has certainly forced us to face up to inevitable questions around our future survival prospects.

Travel is no longer a privilege, but a right: Prof Dev

While speaking at the FICCI webinar on 'Future of Travel, Hospitality and Tourism Industry and the Way Forward', Professor Chekitan S Dev, School of Hotel Administration, Cornell SC Johnson College of Business, suggests that viewing the Covid-19 crisis as an opportunity will help the travel and hospitality industry learn new ways to survive and thrive in a 'better normal' world.

What Does A Biden Presidency Mean For Travel?

The global pandemic has canceled or delayed most travel plans for 2020. Now that we're in the waning weeks of the current calendar year, all eyes are looking to 2021. Specifically, many are wondering how a Biden presidency will impact their travel plans and the travel industry.

Update on Our Work to Support Frontline Workers

Airbnb Co-Founder and CEO Brian Chesky today announced a new commitment to support charitable and philanthropic organizations that are fighting COVID-19. Chesky intends to personally donate $10 million to non-profit organizations that support frontline workers who are responding to the COVID-19 crisis.

Survey: 7 Out Of 10 Americans Unlikely To Travel For Holidays

A new national survey commissioned by the American Hotel & Lodging Association (AHLA) shows that many Americans are not expected to travel this holiday seasons. Results show that 72% of Americans are unlikely to travel for Thanksgiving and 69% are unlikely to travel for Christmas, compounding the challenges for the hotel industry during this public health crisis.

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.

How Covid-19 May Permanently Shrink The Business Travel Market

When Covid-19 shut down economies around the world last spring, it also stopped all those trips business executives make to customers, suppliers, conventions, trade shows, and their company offices. Almost overnight, millions of people globally began working from home and using video-conferencing technology to transport themselves to meetings and negotiate deals.

The COVID Impact on Hotel Values

By Tommy Crozier

As we enter month nine of the pandemic, the hotel sector remains challenged, transactions are scarce, and from the perspective of someone who doesn't live hotels day in and day out, values seem to be a guessing game.

CEOs hope for a strong 2021 as crisis continues

With vaccines and more efficient testing on the horizon, the coronavirus might not go away completely, but it can be handled and business will come back, hotel industry CEOs said on a panel as part of the online NYU International Hospitality Industry Investment Conference.

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.

HVS Monday Musings: Food for Thought - Reimagining F&B at Hotels in India

Food & Beverage (F&B) has always been a significant component of hotel operations and revenue. Several hotel chains have created their own iconic in-house restaurant brands over the last few decades. Dining at these hotel restaurants, known for their high-quality cuisine and celebrated chefs, had a novelty factor that was missing from the options available outside of hotels.

UNWTO Brings Tourism Sector Together to Plan for the Future

The World Tourism Organization (UNWTO) has once again brought leaders from across the sector together for high-level talks aimed at strengthening cooperation between the public and private sectors. The 42nd Plenary Session of the United Nations specialized agency's Affiliate Members focused both on immediate priorities for tourism's vital restart and on the longer-term task of ensuring the sector continues to be a key pillar of sustainable development.

Checking Temperatures at Clock-In & Check-In is the Next Evolution of Employee, Guest Safety

By Robb Monkman

"Enabling Security Everywhere" has been the focus of React Mobile since its inception. Our company was founded on the principle of making safety simple for every hotel employee through technology. While COVID-19 has been devastating to everyone in the travel and hospitality industries, it appears to have a silver lining: The hotel industry is improving the safety of hotel workers everywhere.

Insights on the Private Equity Market

By Kimberly Yoong

Over the past years, the hotel sector had remained a hot market for investors, as hotel investment volume reached US$66 billion in 2019, with initially cautiously optimistic projections for 2020. Although the short-to-medium-term prospects of the market now remain uncertain due to COVID-19, there may be opportunities amidst these times, both for companies to innovate their models and investors with a keen eye and open mind.

Resort Revenue Management For 2021

By Thibault Catala

I have heard many people saying that revenue management doesn't apply to resort properties due to longer lead times, seasonal demand patterns and a different type of clientele. This is absolutely not true.

COVID-19’s Impact on the San Diego Lodging Market

By Marcus R Lee

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 greater San Diego[1] area's occupancy fell roughly six points from 70% in 2008 to 63% in 2009; this year, we forecast occupancy to drop from the 2019 benchmark of roughly 77% to 49%, reflecting a 36-point decline.

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.

Preliminary 2021 Lodging Industry Forecast

By Bob Rauch

We have made some assumptions for 2021 - first, Q4 2020 and Q1 2021 will remain flat as corporate business begins to build just as leisure business begins to decline. Second, a stimulus package is imminent right after the election, regardless who wins.

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.

COVID Impacts Expected to Force Hotel Sales in 2021

HAMA's (Hospitality Asset Managers Association) member survey of the region's hotel Ownership was just completed, and results confirm what many industry watchers have been whispering for months. Eric Levy, MD of Tourism Solutions International viewed the results of this survey and commented "In my 30 years in the region, we have had many crises, this one is different.

“Outlook for Hotels in Europe and UK for 2020”

By Korosh Farazad

There is no doubt that Europe is overwhelmed with the second wave of the COVID-19 pandemic since end of September. We can see a sharp increase in cases across the continent, especially in the United Kingdom, France, Spain, Germany, Netherlands and other European countries.

Diversifying to stay alive: A Sicilian food truck story in Milan

By Beatrice Venturini

Milan received a hard knock earlier on this year with a very long and strict lockdown that affected all lives and businesses. Tiziana and Basilio Santoro had been running an authentic and popular Sicilian food truck ('BEDDA') in Milan for the past 5 years, specializing in the island's particular brand of tasty and unforgettable street food, when COVID-19 struck and momentarily shut down all operations.

New International Code To Provide Greater Legal Protection For Tourists

Tourists are to be given greater legal protection as consumers under new plans being advanced by the World Tourism Organization (UNWTO). With restoring confidence a key priority for the sector, the International Code for the Protection of Tourists advanced by UNWTO with the support of almost 100 Member States so far, will make the support available to tourists affected by emergency situations clearer and more consistent globally.

US tourism recovery may be hindered if President Trump wins second term, says GlobalData

With President Trump's surprise victory in 2016 likely being a contributing factor to a 2.1-percentage-point slowdown in the compound annual growth rate (CAGR) of international tourism in the US*, a second term for the Trump administration - combined with the ongoing impact of COVID-19 - does not provide the US tourism sector with a great deal of optimism, says GlobalData, a leading data and analytics company.

Gaming CEO Pay, Calm Before the Strom

By Keith Kefgen

The end of 2019 ushered in a banner year. Valuations where high and deals were getting done (Penn National & BarStool, Caesars & Eldorado) among them. Then the world changed overnight. Panic in the public markets ensued and valuations plummeted (Penn National went from $49 to $4 in March).

Lybra Integrates Future Flight Search Data into the Assistant RMS’ Global Demand Analysis, Ensuring the Most Accurate Price Suggestions, During the Pandemic & Beyond

Lybra's Assistant Revenue Management System - the most sophisticated, machine learning, demand-centric RMS on the market - has now integrated millions of future flight search data sets, from one of the leading OTA metasearch flight booking sites, into its algorithm, which is used - along with other macro-level demand data - to calculate future demand within a destination.

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.

The Future of Hotel Technology: Part 1

By Simone Puorto

COVID-19 has changed everything. But bear with me, this isn't another "COVID has created a new paradigm" article. Yet, COVID is simply the perfect example to understand how hospitality is changing and has been changed by technology at an unprecedented pace.

Hotel Technology Tradeshows Now More Vital Than Ever

By Larry Mogelonsky

The need for viral safety has made technology inescapable for hotels. With all the new protocols for self check-in, mobile room keys, physical distancing, contact tracing, prearrival virus screenings (staff and guests), contactless transactions and rigorously itemized cleaning checklists, and with less revenue to go around due to the lack of groups, the only way to stay profitable is through continued automation.

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.

Current Pandemic an Opportunity for African Hotel Management Company Selection & Negotiation

By Wayne Troughton

HTI Consulting recently launched a new report on hotel operator selection and management contract negotiation in Africa, providing various invaluable insights into the selection process as well as important analysis on contract contents, trends, benchmarks and negotiation techniques for owners in Africa.

Hard Rock Hotels & Casinos® Introduces MEET SAFE + SOUND

Hard Rock International is delighted to announce Meet SAFE + SOUND, expanding the international hospitality brand's industry-leading SAFE + SOUND program into conference and event spaces. As in-person meetings and events begin to re-emerge, event planners and attendees can be assured that touchpoints at all properties are SAFE + SOUND.

Airbnb's Update on Trust

Almost one year ago, our CEO and co-founder, Brian, shared a note outlining significant steps we'd take in designing for trust on our platform. We made commitments to, among other things, introduce a guest guarantee, launch a neighborhood hotline, expand our risk assessment tools and verify the accuracy and quality standards of properties listed on the Airbnb platform.

How Software Resolves COVID-Related Personnel Issues

By Larry Mogelonsky

With the new safety guidelines from COVID-19, hotels have been mandated to disrupt, reconfigure and combine many operations, as well as do all this with a reduced staff to lower labor costs. This has created a tremendous burden for property teams; frontline employees are oftentimes overworked and potentially unfamiliar with the latest procedures, while supervisors are likewise spread thin and without a means of verifying proper training.

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.

The New Era of ‘Safety First’ Travelers

Coronavirus (COVID-19) has affected nearly every aspect of our lives. As travelers start to rediscover the world again, it's not surprising that the majority (79%) are planning to take more health and safety related precautions when traveling in the future with over half (59%) opting to avoid certain destinations altogether due to safety concerns.

The Big Rethink Agenda: HR, Leadership and Crisis Management

By Thomas Mielke

Throughout the summer months, AETHOS has been inviting human resources executives to participate in one-on-one conversations as well as online roundtable discussions. The purpose has been to have an open and unbiased forum to be able to share concerns, ideas or challenges with impartial industry executives as it relates to talent management and leadership aspects within one's own organization.

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.

Overwhelming Call for Rapid Testing Pre-Departure

76% of respondents believe that rapid testing prior to departure, and waiving quarantining requirements for those who test negative, to be the best way to open up international travel according to the latest Global Business Travel Association (GBTA) poll.

Can AI-driven tech help bring back tourism travel?

The global restrictions imposed since March this year due to Covid-19 has brought international travel to a screeching halt. It has caused a 22% fall in international tourist arrivals during the first quarter of 2020 and could further decline by 60-80% over the whole year.

A Passionate Professional from Puglia has a face-to-face with the Pandemic! Lessons from Italy

By L. Aruna Dhir

The current Pandemic is behaving whimsically with different people! Himmat Anand, a hotel owner friend has been sticking to his promise of reopening his Tree of Life resorts one after the other. He is also opening new resorts in a couple of locations in the portfolio of his second brand of hotels - A Dog's Story.

Hospitality Industry’s “Buy One, Give One” Campaign Jumpstarted Recovery Efforts With Over 65,000 Room Nights Purchased And Gave Back To Frontline Healthcare Workers

In response to the COVID-19 pandemic and its devastating effect on travel, the hospitality industry banded together to launch Buy One, Give One, a "vacay layaway" program. The initiative resulted in the purchase of more than 65,000 room nights for future stays, providing immediate revenue for participating hotel partners, who then donated room nights to frontline healthcare workers as a well-deserved "thank you.

The Recovery Period Time for Hospitality Sector

By Korosh Farazad

As we all know, the COVID-19 pandemic has severely affected the world economy. No industry can escape the disruption of COVID-19, hotel sector being the most and deeply affected. Many hotels are shutting their doors since March 2020 and where we can see the dramatic declined in RevPAR.

Dusit partners with Pixel One to provide safe, dynamic and affordable solutions for hybrid meetings in Thailand

Dusit International, one of Thailand's leading hotel and property development companies, has teamed up with innovative Bangkok-based event management company Pixel One Production Co., Ltd, which specialises in audio-visual production solutions for MICE business, to deliver new services for virtual and hybrid meetings at Dusit Hotels and Resorts throughout Thailand.

Weekend Plans, Anyone?

By Noelle Homsy

I started writing this piece, my first ever on LinkedIn, back in February. Governments had just begun banning citizens and residents of highly infected cities from entering what they believed was a "safer" country.

HVS Asia Pacific Hospitality Newsletter - Week Ending 16 October 2020

Swansea Hotel Acquired by Hunter Group in Lake Macquarie, Australia, Singapore and Hong Kong Enters into In-Principal Agreement to Establish Bilateral Air Travel Bubble for Leisure Travel Without Need for Quarantine, Singapore and Indonesia Established Reciprocal Green Lane, Western Australia Premier Mark McGowan Announced 50,000 Affordable Airfares.

Four Interior Design Trends for the Post-Pandemic Hotel

By Larry Mogelonsky

Once the greenlight was given, all businesses looked to reopen as quickly as possible after the lockdown. This has resulted in countless slapdash efforts for achieving the minimum of viral safety compliance, with most structural upgrades meant as only temporary installations and most of them particularly garish at that.

Adjusting Asset Management Staffing Strategies

By David Mansbach

The hotel industry faces an extraordinary challenge today: how to operate a hotel in the "new normal." With the near future so cloudy, it is close to impossible to effectively set accurate property and company forecasts; at this time occupancies and revenue per available room numbers are at painfully inadequate levels.

Accor Successfully Implements ALLSAFE Throughout Its Hotels And Resorts Worldwide

Accor today announced its continued action to lead the hospitality industry with the most stringent cleaning standards and operational procedures concentrated on guest safety. Following operational disruptions stemming from COVID-19, Accor has successfully reopened most of its hotels with 95% of them having already adopted the Group's trusted ALLSAFE cleanliness and hygiene protocols jointly developed with Bureau Veritas.

Fulfilling Guest Needs in a Post-COVID and Guest Room-Centric Era

By Pierre Agrario

The hotel guest room is undergoing a transformation, and it's up to hoteliers to decide how this space can be activated in the future. As customer touch points continue to erode and sanitation takes precedence over every other aspect of a guests' stay, hotels need to find ways to remain experiential while proving for guests' needs during a socially distant climate.

Saving Face: 7 Steps To A Safe Small Meeting

We all know of somebody who has started a complex new role but is yet to meet their colleagues in person, or hosted a creative virtual team brainstorm that started off fizzing with ideas until audio and visual connectivity gave out.

Can Hotels Create Convergence Economies?

The COVID-19 pandemic has forced us to question the way our economy and society have operated for centuries. Since the onset of the first Industrial Revolution more than 200 years ago, the Western economic model of hyper competition and continuous growth has achieved global dominance - this holds true even in the hotel industry.

The Revitalized Need for Post-COVID Security Technology

By Larry Mogelonsky

Contactless technologies became mission critical as a way to solve many of the issues created by the coronavirus crisis. As we transition from the pandemic into the next normal of semi-permanent viral safety upgrades and the dominance of regional travel, it's important to consider the long-term ramifications of so many people furloughed or unemployed by the pandemic.

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