We have been monitoring markets affected by COVID-19 since the early days of the outbreak, and we've focused on a few key indicators to help you understand when your market is headed for recovery. We will be introducing and analyzing these indicators over the next few weeks.
To assist the international markets build prediction models on the economic recovery post COVID-19 confinements, lockdowns and crisis we are publishing frequent updates from all the industries of Shiji's Chinese operations. We hope this can help management, strategy, marketing and operations teams of the various industries to develop their own plans for recovery and give some points of reference in this unique situation.
TrustYou announces today the launch of its newest KPI for review monitoring, the Travel Health Index (THI). Based on data gathered from the world's largest guest review database, TrustYou releases the exclusive report to compare hotel performance registered in 2019 with that of the current year. The hospitality industry is currently experiencing a drastic and unprecedented decline in hotel stays due to the impact of the COVID-19 outbreak and the widespread limitations on travel. The THI provides a representation of hotel occupancy rates, as review volume generally happens 2-5 days after check-out. This enables hoteliers and the wider hospitality industry to get a grasp on the current worldwide situation and the way in which the pandemic is impacting hotel businesses.
The World Health Organization has pronounced Europe as the new epicenter of the COVID-19 pandemic. Europe is now reporting daily increases in confirmed coronavirus cases at a rate higher than China during its height in February. Countries are now rapidly shutting their borders, allowing only essential travel for commuters and the shipment of goods. In addition to border closures, countries such as Italy, Spain, and France have ordered all non-essential businesses to close. In Italy, which has the highest number of confirmed cases in Europe, the government has instituted a nationwide lockdown.
Across the Shiji Group product lines we are sharing data on how the COVID-19 crisis is recovering for other markets to use in their analysis and planning. We have looked at the transaction volumes across all our payment integrations to help give some comparable information. A few key points:
Active COVID-19 cases in China peaked on 17 February. Since then the number of active cases has been reducing rapidly. To assist hotels around the world in forecasts during the crisis we are publishing information of how the Chinese market is rebounding reservations since the peak of the epidemic. We hope this can give some comparison of how the hotel market could pick up in other countries. Some Takeaways:
Knowland, the leader in revenue-generating hospitality meetings data and analytics, is tracking the impact of the Coronavirus pandemic on group business for the hotel industry. Today, Knowland announced estimated group cancellation rates across a 90 - 120 day booking window for the US/North America, Asia Pacific and Europe regions.
TrustYou released today its latest review performance analysis for the UK market. The research focuses on the top 10 largest UK cities and reveals the hotel scores and various traveler types, including how family, business, couples, or solo travelers rate the cities based on data from the past 24 months. Additionally, the company analyzed the general review sentiments expressed by travelers in the year 2019 for UK's biggest cities; among them were London, Birmingham, Glasgow, Liverpool, and Bristol. Surprisingly, London scored poorly for being fit for different traveler types with business, family, and solo travelers rating it as the least appealing city. Instead, Liverpool, Sheffield, and Edinburgh were among the most well-perceived by the different traveler categories.
Cvent, a market-leading meetings, events, and hospitality technology provider, released the latest Cvent Group Business Outlook, a 24-month forward-looking report highlighting United States group booking activity through the Cvent Supplier Network (CSN). The CSN is the world's largest venue sourcing database, through which more than $16 billion dollars of group business is sourced annually. Each quarter, Cvent releases this proprietary sourcing data analysis, offering unique insights into the U.S. group business market.
CWT M&E, the global meetings and events division of CWT, says the $840 billion industry is poised for an 8% growth in 2020 despite looming geopolitical and economic headwinds, according to its 2020 Future Trends Report, published today.
In a sweeping expansion into 20 European destinations, Teneo Hospitality Group, the premier Global Group Sales Organization, has added 50 luxury hotels and resorts to its international portfolio. The new additions include independent properties, small luxury brands, and premium brands under the Radisson and Accor flags, including Radisson Blu, Radisson Blu Edwardian and Pullman Hotels, as well as the recently announced The Dedica Anthology collection. Though Teneo’s core business remains predominantly U.S. based, the new hotels, located in major European cities from Copenhagen to Budapest, will offer planners globally exceptional access to a diverse portfolio of unique hotels, dynamic destinations and the resources of luxury properties from North America to Europe’s most respected hotel brands.
Softscribe Inc., an award winning hotel tech PR firm, attended the 11th annual Hotel Data Conference (HDC) this month in Nashville, TN with industry leaders and technology providers. STR hosted 734 attendees, with 91 on the waitlist, at the new JW Marriott® Nashville for a 3-day deep dive into data, industry & property performance, and trends for the global hospitality industry.
Cvent, a market leader in events and hospitality technology, today released the results of its fifth annual Cvent Planner Sourcing Report, which outlines the results of a survey among nearly 3,000 professional event planners worldwide that explores how meeting planners source venues and what influences their decision-making. The survey offers hospitality professionals the data and insights they need to win more group business and ensures their sales and marketing teams are focusing on the areas that make the most impact to help them drive more profitable business.
Point A Hotels, clients of HotelREZ since its launch in 2017, have added two new hotels to its portfolio, Point A Kensington Olympia and Point A Edinburgh Haymarket.
After posting sharp rises in 2019, prices in the global travel industry are likely to slow in 2020, with flights rising a modest 1.2%, hotels rising only 1.3%, and rental car rates up 1%, according to the sixth annual Global Travel Forecast, published today by CWT and GBTA. While the global economy is doing well overall - and expected to grow a solid 3.6% in 2020 - a raft of uncertainties are set to put a damper on pricing.
Eleven, the pioneer in cloud-based central authentication management systems, undergoes rapid expansion. The ElevenOS platform enables hoteliers and multi-family property managers around the globe to deliver a seamless Wi-Fi experience that guests and residents love. In July, the company celebrated the onboarding of its millionth room on its platform ElevenOS, marking a significant milestone in the company's history.
Revinate, the software as a service (SaaS) company that helps hoteliers make the most of every guest, today released its 2019 Global Hotel Marketing Benchmark Report. Now in its second year, this industry barometer report analyzes 226 million emails from properties of all sizes and across all regions to help hoteliers understand marketing benchmarks in the industry. For hotels that are investing in CRM and marketing automation, the news is great; Email marketing continues to drive powerful results as customer engagement improves year over year.
Tourism is a key driver for local economies, bringing in visitor dollars and supporting jobs. For smaller, secondary markets that are traditionally overlooked, recent increases in tourism have helped create healthy opportunities for independent hotels to thrive. With more travelers, especially younger generations, opting for off-the-beaten path destinations (https://info.advertising.expedia.com/travel-and-tourism-trends-for-american-travelers) and unique and memorable experiences, independent hotels have an opportunity to capitalize on the growing interest in these second-tier markets.
According to research commissioned by RoomIt by CWT™, the hotel distribution division of CWT, the B2B4E travel management platform, business travelers want different hotel experiences based on the country they are from.
Avvio recently collaborated with the Independent Hotel Show to carry out research into hoteliers' relationships with online travel agencies (OTAs) and surveyed 150 hospitality professionals across Europe, producing some interesting results.The research shows that the vast majority of respondents accepted online bookings from OTAs, but, most encouragingly, 69 per cent also stated they were committed to growing their strategy to drive direct bookings.The Direct Booking Survey 2019 also highlighted that although nearly all of the hoteliers who responded use OTAs as part of their distribution model, the overarching consensus is that the commission charged has reached unacceptable highs.