Countries across the world have seen various levels of impact over the last seven months due to the COVID-19 pandemic. So where exactly do Pacific countries stand now? We look at how performance has changed over the course of the pandemic.
Restrictions on travel introduced in response to the COVID-19 pandemic continue to hit global tourism hard, with the latest data from the World Tourism Organization (UNWTO) showing a 70% fall in international arrivals for the first eight months of 2020.
Bouncing back to profitability is proving a Sisyphean task for U.S. hotels. The rest of the world is having a slightly easier path.
SINGAPORE—The Asia Pacific hotel industry has reported continued performance improvement from COVID-19 low points thanks to strong domestic demand and holidays, according to the performance outlook presented during HICAP 2020 by STR's Jesper Palmqvist, area director for the region.
The Central/South America hotel industry reported slight performance improvement over the previous month but at overall low levels, according to September 2020 data from STR.
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.
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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.
Reflecting a post-summer lag in demand, Europe's hotel industry reported slight performance decreases from the prior month, according to September 2020 data from STR.Euro constant currency, September.
Hotels in both the Middle East and Africa showed continued occupancy improvements but at overall low levels, according to September 2020 data from STR.