First-ever space hotel slated to be operational by 2027
An out-of-this-world hotel is just a few years away from becoming a reality.
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Hotel Marketers Expect Moderate Business Travel Recovery
While leisure travel has been the lone saving grace for the hotel industry since the onset of the COVID-19 pandemic, hotel sales and marketing experts believe the business mix could grow more diversified in 2022.
Hotel Pricing Strategies Include Optimizing Segmentation, Capturing Ancillary Revenue
Hotel revenue managers are entering the new year with revisions to their core strategies to best optimize segmentation and capture ancillary fee opportunities.
Gloomy Business Travel Outlook Tempered by Possible New Opportunities
With employees continuing to return to offices, ongoing vaccination progress and the reopening of many international borders, the time would seem to be ripe for the return of business travel.
2022 Hotel Forecasts Optimistic For Now
The calendar year has changed, but many of the same factors weighing on hotel forecasts persist — specifically, the outlook for business transient and group travel, how inflation will play into travel demand, leisure travel’s endurance and the emergence of the COVID-19 omicron variant.
A Review of Hotel Company Key Performance Metrics in 2021
The recovery of the hotel industry from the ongoing global pandemic can be measured by improvements to key performance metrics — revenue per available room, average daily rate and occupancy — which dropped precipitously as lockdowns and travel restrictions were imposed in March 2020, and have improved through starts and stops since.
12 Skift Research Charts Explaining Covid’s Impact on Travel in 2021
Skift Research has been tracking the recovery of the flight, hotel, short-term rental, and car rental sectors in 22 countries since the start of the pandemic. One continuing truth is that recovery is extremely unequal, with the latest November 2021 data showing that North and Latin America are close to full recovery, while Asia Pacific lingers around 50 percent of pre-pandemic performance levels.
Airbnb’s $10 Billion Engineer Is Tackling The Lodging Giant’s Toughest Projects
In the spring of 2020, Nate Blecharczyk, the cofounder and strategy boss of home-share giant Airbnb, was walking a tightrope. The covid pandemic had rocked the foundation of Airbnb, one of the world's fastest-growing and most valuable private companies. Overnight, millions of customers canceled bookings. New reservations vanished. Airbnb's revenue dropped some 80%. To keep the lights on, the company raised $2 billion in emergency funding from existing investors. Now Blecharczyk's cofounder and CEO, Brian Chesky, wanted him to turn around and give away $250 million to Airbnb's hard-hit hosts. "Brian is a bold leader who's always pushing you past your comfort zone," Blecharczyk says and laughs. "He wanted to do something super substantial for hosts and felt that $250 million was the right magnitude."
European business travel recovering at ‘cautionary’ pace
Business travel recovery in 2021 proceeded at a slower pace than expected, particularly in Western Europe where the sector underperformed compared to other global markets, according to regional figures from the latest BTI Outlook by the Global Business Travel Association (GBTA) released last month.
Omicron Variant Expected To Have Little Impact on US Hotel Demand
Preliminary performance data from CoStar hospitality analytics firm STR shows no impact from the emerging COVID-19 omicron variant on U.S. hotel demand, and patterns suggest any impact in the future will be minimal, according to Jan Freitag, national director for hospitality analytics at CoStar.
Global hotel cancellations rise ahead of holidays due to Omicron - Trivago
Concerns over the Omicron coronavirus variant and fresh travel restrictions have led to a spike in hotel booking cancellations globally, online hotel search firm Trivago said on Tuesday, threatening to upend a fragile recovery in tourism.
Hotel Chief Financial Officers Shift Attention to Localized Demand
Hotel brands and companies with a global growth strategy have been compelled during the COVID-19 pandemic to rein in that focus, and tend to their portfolios on a more local level.
Omicron plunges travel industry back into COVID uncertainty
Just a few weeks ago, it seemed like the worst was over. The U.S. had finally lifted its 19-month-long travel ban on Europe, and the revival of lucrative transatlantic routes promised to buoy an industry that's estimated to have lost $6 trillion since the start of the pandemic. British Airways chief Sean Doyle called it a “moment to celebrate.”
Hotels in Asia Pacific Region See Signs of Recovery
Hotels in the Asia-Pacific region are still in need of international travel, but there are other promising signs contributing to a recovery.
How the US Hotel Recovery Appears Different Than Past Cycles
While U.S. hotel performance continues to lag 2019 levels, the rate of recovery is a positive sign for hoteliers industrywide.
NYC Hotels Brace For Slow Recovery Despite Rebound In Foreign Tourism
After 20 months without a single guest in its more than 1,000 rooms, the Hyatt Grand Central in Midtown Manhattan is now sold out on weekends through the end of the year.
Strong Demand, Rate Growth Move Up Hotel Recovery Timeline
The strength of U.S. hotel demand this year has renewed hoteliers’ optimism for a faster recovery, which appears likely according to industry forecasters, with some caveats.
Airbnb's Q3 Earnings Show People Have More Flexibility in Travel
In its fiscal third-quarter results reported after the market closed on Nov. 4, Airbnb (NASDAQ:ABNB) revealed just how enthusiastic people are to take a little break from everyday life and travel somewhere. Answer: very enthusiastic! And the worldwide travel facilitator is busier than ever these days helping them.
Hotel CEOs predict record numbers for 2022
Things are finally looking up for the battered hospitality industry. New data, released by hotel-analytics provider STR at NYU's 43rd Annual International Hospitality Investment Conference this week, showed that daily demand for U.S. hotels is nearly back to prepandemic levels. Group demand also is rising, and hotel CEOs expect occupancy rates and revenue per available room to continue to increase in the coming year.
Booking Holdings Beats Forecasts as Vaccines Spur Travel Rebound
Booking Holdings Inc. reported gross bookings that beat analysts’ forecasts, as an increase in Covid-19 vaccination rates in some markets helped spur a travel rebound before the delta variant of the coronavirus set in. The shares jumped in extended trading. The online travel giant said gross bookings, which represent all travel services -- excluding cancellations -- booked by customers increased 77% from a year earlier to $23.7 billion in the three months ended in September, beating analysts’ projections for $21.6 billion, according to data compiled by Bloomberg. Revenue rose 77% to $4.68 billion, better than forecasts for $4.3 billion, according to a statement Wednesday