Even as countries are beginning to roll out vaccines against Covid-19, travel in 2021 will be focused on regional destinations rather than international tourist meccas, according to a report released by Airbnb Inc.
Hotel owners and operators looking to pick up distressed assets have had to wait longer than previously expected, but industry experts believe those opportunities will arise later this year.
Before the pandemic began, the second location of The June Motel, a 24-room boutique hotel in Sauble Beach, Ontario, was set to open late last spring. To be fully ramped up for Lake Huron's 2020 beach season was the goal.
Occupancy levels hit a record-breaking low of 44% for the year, down from 66% in 2019, according to analytics and data firm STR. The average daily hotel rate fell by 21%, and the all-important revPAR (revenue per available room) fell by 48%.
The COVID-19 pandemic has been a real-life stress test on the entire travel industry, and the ups and downs of infection rates and lockdown measures have made unpredictability the only thing that is certain.
Even before the onset of the ongoing COVID-19 pandemic, the hotel industry was undergoing something of a reckoning, said Noble Investment Group Senior Managing Principal and CEO Mit Shah.
It just may be the small-meetings business that could help the beleaguered hotel industry overcome challenges presented by a raging pandemic, economic downturn and civil unrest.
Americans are hitting the road again. But they're not traveling to Chicago on business or to Las Vegas and Disney World for vacations. They're going in search of vaccines.
It just may be the small meetings business that could help the beleaguered hotel industry overcome challenges presented by a raging pandemic, economic downturn and civil unrest.
A new year brings the reality of a COVID-19 vaccine closer and those dreaming of travel may soon be able to take the trips they plan for in 2021. Given the disruption to the travel industry brought on by the pandemic - leading to reductions in the amount of traveling done last year - what has happened to travel interest among Brits and Americans during that time? Throughout the course of 2020, despite restrictions and lockdowns, more than two in five Brits said they were still interested in travel (43%).