Owners Reconsider Hotels' Positioning, Actively Pursue Deals
The COVID-19 pandemic is making hotel owners reevaluate their strategies either because of the challenges the pandemic has caused or the opportunities it has created.
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What Is Hospitality? The Current Answer Doesn’t Work.
One of my last restaurant meals before the shutdowns started last year was at Swan Oyster Depot in San Francisco. I waited on the street by a fishy-smelling puddle until I was waved toward a seat at the well-worn counter.
Despite big travel numbers, airlines aren't roaring back yet
Leisure air travel in the United States is on track to recover much more quickly than originally expected, thanks to the expedited distribution of vaccines, recent Covid-19 relief and economic stimulus legislation and pent-up demand. We now predict leisure travel in the United States will return to 2019 levels by early 2022. But even with the uptick in bookings, the industry still faces tough challenges ahead.
When will the business traveler return? Hotel industry counting on a return to the office
The retail market faced challenges before COVID-19 hit. The office market was solid before the pandemic sent employees working from home in droves. But the hospitality market? It was thriving in many parts of the country before March of 2020.
World travel isn't simple, even for the vaccinated
You've got your COVID vaccine, and the CDC says it's OK to travel this summer, even internationally. But you're likely to find that your overseas options are limited by border restrictions in many countries.
U.S. Hotel Profitability Hits Pandemic High
U.S. hotel gross operating profit per available room (GOPPAR) reached its highest absolute level since February 2020, according to STR's February 2021 monthly P&L data release.
Barry Sternlicht sees a travel ‘frenzy this summer
Billionaire investor Barry Sternlicht told CNBC on Wednesday the U.S. travel recovery is well on its way — at least in parts of the country like Florida — after a Covid-induced slowdown.
Interest Grows In Converting Hotels To Other Uses
Both private and government buyers are finding real estate conversion opportunities with U.S. hotel owners who are reevaluating the highest and best use of their properties due to the COVID-19 pandemic.
U.S.: Summer travel is selling out in some places — see what’s already booked and where
Fueled by Covid vaccines, flexible cancellation policies and people yearning to break free from home, the summer travel season is already booming for some parts of the travel industry.
Kayak Is Opening Its First Hotel in Miami Beach — and It's Going to Be So Futuristic
The new Kayak Miami Beach will serve as an innovation lab for technologies like touchless check in, digital door locks, and a robust mobile app that will let guests connect with hotel staff virtually through their phones. (No more calling downstairs for more towels!)
Hoteliers See Value in Airbnb Listings Even As Demand Falters
Home sharing and Airbnb listings might have fared at least marginally better than the broader hotel industry during the COVID-19 pandemic, but some boutique hoteliers who list on Airbnb said bookings on that and other third-party distribution channels have also taken a significant hit.
Booking Holdings focuses on payment platform, connected trip and U.S. growth as 2020 revenue drops 55%
Despite both revenue and bookings dropping more sharply in Q4 of 2020 than in the prior quarter, Booking Holdings president and CEO Glenn Fogel focused on the positive to open his call sharing the results with analysts.Noting that 2020 brought the "biggest disruption to modern global travel the world has ever seen," Fogel continues: "However, travelers still booked 355 million room nights through our platforms during 2020, and we remained profitable by generating approximately $880 million in adjusted EBITDA. Delivering these results during this unprecedented year and unpredictable year is a credit to our team's relentless efforts to deliver the best value and service to our travel customers and to our supply partners while all the time remaining incredibly focused on operating efficiently."Considering those full-year 2020 figures in relation to 2019, of course, paints a less rosy picture. Room nights dropped nearly 58% - down from 844 million in the prior year - and adjusted EBITDA dropped 85%.Gross travel bookings for the year were valued at $35.4 billion, a 63% decrease compared to 2019, and total revenues in 2020 were $6.8 billion, a 55% decrease from the prior year.Fourth quarter results were also noticeably down compared to Q3 of 2020 - although less sharply than expected, says Fogel.
HSMAI Executive Briefing: Remington Hotels’ Raul Moronta
Raul Moronta, CRME, CHIA, has had a career path that closely tracks with the growth and evolution of hospitality. He started out in an on-property sales position while attending college in his native Dominican Republic, then moved to New England and took a night auditor job as he worked toward his master's degree in hotel administration. He went on to work front-office jobs at various properties, then became a director of revenue management with Starwood, overseeing two properties for two different brands before taking on a variety of above-property revenue positions.
Old Ski Gondolas Find New Life as Private Dining Rooms
With cold winter weather on the horizon and ever-changing local COVID-19 rules limiting indoor dining, Wendy and Rich Tucciarone began worrying about the fate of their Steamboat Springs, Colorado, craft brewery and restaurant last fall.
CDC is not recommending a COVID-19 test requirement before domestic travel
The US Centers for Disease Control and Prevention is not recommending a Covid-19 testing requirement before domestic air travel, the CDC tells CNN.
Study Implies $15 Minimum Wage Would Have Outsized Impact on Hotels
The Biden administration has proposed a new federal minimum wage of $15 an hour as part of its COVID-19 relief program.
Fully vaccinated people can skip COVID quarantines, CDC says
People who have been fully vaccinated against coronavirus -- right now that means with two doses of either the Pfizer/BioNTech or Moderna vaccine -- can skip quarantine if they are exposed to someone infected with the virus, the US Centers for Disease Control and Prevention said Wednesday.
When Will It Be Safe To Cruise Again? These Signs That Will Help You Decide When To Sail
It's been a hard year for cruise passengers. Last March, the cruise industry all but shut down and remained beached for the rest of 2020. Now, passengers are eager to know when it will be safe to cruise again.
Hotel Owners the Driving Force Behind Tech Adoption
The COVID-19 pandemic has accelerated the need for leaner hotel operations and enhanced tech features for both staff and guests.
Ghost Kitchens Find a Home in Empty Hotels
Richard Zaro always wanted to open a chicken cutlet joint inspired by the deli sandwiches served across northern New Jersey, but the challenge was coming up with the required capital. The pandemic finally gave him an opportunity.