The Caribbean hotel industry continued steep year-over-year declines in the three key performance metrics during the week of 15-21 March 2020, according to preliminary data from STR.
Despite the global increase in nationwide lockdowns and inbound travel restrictions, some demand for hotel rooms still remains. And while there is no sugar-coating the fact that hotels in almost every country have suffered a steep drop in occupancy due to COVID-19, it is crucial that hotels keep focusing on the pockets of opportunity that present themselves.
View by Greg Berman – COO at Shiji Distribution Solutions
"The short-term impact of 2019-nCoV novel coronavirus on the global travel industry has been significant. According to the International Air Transport Association, airlines are set to loose $133 billion in revenue if COVID-19 continues, while travel by Chinese nationals has slowed significantly."
Dorado Beach, a Ritz-Carlton Reserve – Dorado, Puerto Rico
Have you sent out a statement about your COVID-19 policy yet? If not, we want to help. We have combed through dozens of emails that we received from hotels and hospitality companies of all sizes and want to share some best practices.
The Caribbean hotel industry recorded sharp year-over-year declines in the three key performance metrics during the week of 8-14 March 2020, according to preliminary data from STR.
The travel and hospitality industry is taking a major hit - there’s no denying that. Due to the coronavirus outbreak, hotels from all over the globe are experiencing low occupancy rates and tremendous loss in revenue, while some are even closing their doors until further notice.
Robert Cross, the de facto Godfather of Revenue Management, stated "…everything starts with a day by day, segment by segment forecast", yet many hoteliers no longer produce one as part of their strategic process.
By Alexander Galarraga – Lead Strategist at Booking Success
What a week this has been! We are dealing with an international health crisis which has had a major impact on the Caribbean hospitality industry. The good news is that no crisis lasts forever and the.
The Booking Lead Time is the number of days between the time a guest books their room and the time they are scheduled to arrive at the hotel.
The Fairmont El San Juan is not just the newest Fairmont property, it's also a landmark in Puerto Rico. Originally opened in 1958 as El San Juan Hotel, the oceanfront hotel officially joined the Group'sluxury portfolio on January 3rd, 2020.
Fairmont Royal Pavilion – Barbados
It’s inevitable that coronavirus will have an impact on your bottom line. According to the Global Business Travel Association, nearly 50% of businesses have already canceled or postponed at least some meetings or travel.
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