NYC’s catastrophic hotel crisis isn’t ending anytime soon
A happy ending is in sight to the Big Apple’s hotel industry catastrophe — just wait until 2026!
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Hilton CEO Thanks Fed, Says Hotel Rates Can Rise With Inflation
Hilton Worldwide Holdings Inc. Chief Executive Officer Christopher Nassetta says hotels are hedged against inflation thanks to the same dynamic that made the lodging industry one of the biggest losers in the early days of Covid-19 pandemic.
Holiday travel is even more uncertain than a year ago after a summer of airline turbulence
Dallas travel agent Alex Ramsey is getting questions daily from customers uncertain about booking holiday trips. “Are Americans allowed to travel to Europe?” “Will hotels and restaurants have enough employees?” And the newest query brought on by recent turbulence: “Will my flight be delayed or canceled?”
Hope for 2022 Hotel Demand To Dominate Third Quarter Earnings Narrative
Third quarter performance for major hotel brands and real estate investment trusts is expected to follow a somewhat predictable pattern: Especially strong leisure demand fueled strong numbers in July and August before a seasonal drop-off of demand in September.
Asia Pacific hotel investment to top $7 billion in 2021, growing to $9 billion in 2022 - JLL
Hotel investment volumes will likely cross US$7 billion for the full year 2021, a 15% year-on-year increase, as investors continue to look past the industry’s short-to-medium term headwinds brought on by COVID-19. According to JLL (NYSE: JLL) Hotels & Hospitality Group, healthy transaction volumes will continue into next year, with the industry expected to attract a minimum of US$9 billion in capital in 2022.
New York City moves to limit new hotel development
A proposal to require all newly built hotels to secure a special permit is one step closer to becoming law in New York City.
Hotels Ponder a Puzzling Future
As travel picks up amid signs the pandemic is waning, the hotel industry hopes its fortunes will rise too. But so far, it’s not clear when that moment will arrive — or whether some of the changes they have had to make will become permanent.
UK hotel trading ‘unlikely to return to pre-pandemic levels by end of 2022’
Trading at UK hotels is not expected to return to pre-pandemic levels by the end of 2022 despite encouraging signs for hoteliers.
Report: 2022 Negotiated U.S. Hotel Rates Could Rise 15 Percent
Much like the 2021 hotel request-for-proposals cycle, this year's negotiation season differs greatly from pre-pandemic ones. Many hotel companies have offered to roll over 2020 rates for a second year, and some buyers—though seemingly not as many as last year—are taking them up on it, with 2021 volume only nominally higher than 2020, and recovery still nascent.
PwC Travel Trend: Bring your shades. The future looks bright
What will the future look like for travel after the abrupt standstill in early 2020? With vaccinations on the rise and infections on the decline in the US, a growing number of consumers are eager to get away. Many have the financial wherewithal, having been hunkered down at home for much of the past year, with fewer-than-usual opportunities to spend money.
Marriott CEO Speaks on “Where do We Go From Here?”
Luxury Travel Advisor’s parent company, Questex, owns the International Hospitality Investment Forum (IHIF), which recently convened in Berlin, bringing over 1,200 senior leaders in global hospitality investment and development together for the first time in 18 months. Tony Capuano kicked off the IHIF conference by speaking about how humbling it was to step into the position of Marriott International’s CEO, following the tragic passing of Arne Sorenson this February. Capuano told the IHIF audience that the day the Marriott board announced his appointment, he received 18,000 emails from colleagues around the world—some on furlough because of the pandemic—offering their support.
Economist: Mind the Bumps on Road to Hotel Industry Recovery
The next six months may be a rough ride for both the U.S. and international economy, but beyond those storms, relatively smooth sailing may be on the horizon.
IHG: ‘The desire for business travel never fully went away’
Business travel has quietly resumed. At least that it is the opinion of Derek DeCross, senior VP of global sales for IHG Hotels & Resorts.
US Hotel Industry Eyes Corporate and International Demand
Following Labor Day in the U.S., all eyes are on corporate, midweek demand. According to the latest monthly data from STR, CoStar's hospitality analytics firm, U.S. occupancy stood at 63% in August, a six-point drop from the previous month. However, this decline was expected due to leisure vacations ending and children returning to school.
With Hyatt Deal, Apple Leisure Group Aims To Globalize Luxury All-Inclusive Resort Model
HOLLYWOOD, Florida — Luxury, all-inclusive resorts are not just a Caribbean fad despite much of the buzz from hotel brands being concentrated on that region.
Europe’s Hotels Will Wait Until at Least 2025 for Full Return of International Business Guests
Hotels in Europe that rely on international business travelers face a painfully long wait until recovery that could stretch to more than four years.
Summer 2021: The European hotel industry on a path to recovery
European hoteliers had been hoping the pickup in vaccination rates and progressive removal of health restrictions would boost demand this summer, as it did in 2020. Wish granted: hotel activity accelerated (+68.0% in RevPAR between July 1 and August 21 compared to 2020 marks), even though it remains well below pre-COVID standards (-31.8% compared to the summer of 2019). The impact of the COVID-19 crisis on the hospitality industry is now ebbing down, but this dynamic does not wipe out the strong disparities between countries and areas.
Hoteliers Tackle Challenge of Leisure Demand Outpacing Labor Supply
Labor, or the lack of it, as well as its higher costs, is the biggest topic of the moment in the hotel industry, and it is a challenge that has no easy route to rectification.
US Hotel Profitability Makes Strides, But Unevenly Across Industry
Hotel profitability has come a long way since the emergence of the COVID-19 pandemic, and particularly in the past few months, according to data from STR, CoStar's hospitality analytics firm.
Summer 2021 assessment: The French hotel industry is finally going through a better period
The French hotel industry was counting on the end of health restrictions to finally reboost the activity. That's a done deal, as summer 2021 was much better than in 2020: +47% in turnover for the period from July 1st to August 21st, even if this is still quite below pre-COVID levels (-20.4% in turnover compared to the 2019). The sector is therefore back on track. But locally, the situations are extraordinarily contrasted: while some destinations are reporting solid increases, others are still a long way from getting back to their pre-crisis levels. Here is a complete review of this summer like no other.