COVID impact
COVID-19’s Impact on the Albuquerque Lodging Market
McKenna Luke | April 13, 2021
By McKenna Luke Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. According to Visit Albuquerque, Albuquerque’s RevPAR fell roughly 47% in 2020 from 2019 levels, driven primarily by occupancy losses of up to 33% compared to 2019 and ADR declines of up to 21%. The occupancy loss was not only a factor of limited demand caused by the travel halt at the onset of the pandemic, but also of New Mexico being closed to travelers from outside the state for most of the year. As many other markets in the United States were supported mid-summer by leisure guests, ...
COVID-19’s Impact on the San Antonio Lodging Market
David Bone | April 8, 2021
By David Bone, Shannon Sampson Prior to the COVID-19 pandemic, Downtown San Antonio was enjoying a decade of revitalization and growth. The year 2020 was poised to be a banner year, spurred by the Henry B. Gonzalez Convention Center’s $325-million renovation and expansion, which was completed in January 2016. Data provided by the Texas Comptroller of Public Accounts indicate that hotel revenue across the San Antonio-New Braunfels MSA declined by roughly 53% in 2020. RevPAR for the MSA remained relatively stable in 2018 and 2019, before plummeting approximately $40 in 2020 to a historical low of $37. New hotel supply increased by alm...
Why the Hospitality “Skills Gap” Has Become a “Skills Chasm” Due to COVID-19
Daniel Johnson | March 31, 2021
By Daniel Johnson Just as you can’t “pour from an empty cup,” hotels can’t provide great service without the help of great staff – hospitality professionals know this to be unequivocally true. Hospitality is, in many ways, defined by its providers. Great hospitality isn’t simply the provision of a singular service; instead, it’s an experience, one that is continuously curated and delivered in a meaningful way via engaged staff, a pristine property, and the best available technological advances. Despite this, hiring has always been a crux of our industry, from technology to management, front desk, and beyond. The pandemic h...
U.S. Market Recovery Monitor – 13 March 2021
STR | March 19, 2021
March 19, 2021 - About the MRM When the U.S. hotel industry reached the one-year anniversary of the earliest COVID-19 impact, year-over-year percentage changes became less actionable when analyzing performance recovery. Thus, STR introduced a weekly Market Recovery Monitor that categorizes each STR-defined market based on an indexed comparison with the same time periods in 2019. An index is simply a ratio that divides current performance by the benchmark (2019 data). For example, during the week ending 6 March 2021, U.S. RevPAR was $48.13. In the comparable week from 2019, RevPAR was $87.75. This produces an index of 54.8 ($48.13/$87.7...
COVID-19’s Impact on the Greater Boise Lodging Market
HVS | March 19, 2021
At the beginning of 2020, the future of Boise’s hospitality industry looked bright given the anticipated arrival of Amazon to the Treasure Valley and a robust 2020/21 convention and event schedule on the books at the Boise Centre. The return of the renowned Jaialdi Basque festival in August 2020 also positioned Boise for a strong summer season. Although new hotel supply was under construction, Boise’s hoteliers were optimistic that local occupancy levels would hold steady and that the market would register minor average rate (ADR) increases. The onset of the COVID-19 pandemic in March then changed this outlook, as demand dropped and ev...
GBTA Poll: Digital Health Verification – The Solution to Safely Resume Business Travel
the Global Business Travel Association | March 18, 2021
Alexandria, VA – March 18, 2021 – The Global Business Travel Association (GBTA), the world’s largest business travel association, today reported on the findings from its 17th poll looking at the impact of the pandemic on the business travel industry. Two-thirds of GBTA members and stakeholders (66%) believe implementing Digital Health Verification (also known as “vaccination passports” of “digital green certificates”) is a good policy, the majority of whom believe it will help employees safely resume business travel. The poll also finds a positive increase in optimism among members as the vaccine rollout ramps-up globally an...
Will Covid Make Hospitality Stronger?
Craig Jacobs | March 18, 2021
By Craig Jacobs Profound change in the Meetings and Hospitality Industries is on the verge. Hybrid conferences, food and beverage offerings and new cleanliness and service protocols will scramble current standard operating procedures, profit and loss statements, staffing, pricing and the definition of Luxury. While change is difficult, the final outcome is going to be an improvement for clients, staff and ownership. Values like quality, efficiency, productivity, and profitability are never-ending quests and the pandemic has provided us with a clean slate to start from scratch. The following list is just the beginning: Worth ...
Final Tally: Travel Lost $1.1 Trillion in U.S. Economic Output in ‘20
U.S. Travel Association | March 17, 2021
WASHINGTON — March 17, 2021 —Travel’s economic footprint in the United States shrank a staggering 42% last year, from $2.6 trillion to $1.5 trillion, according to new end-of-year totals prepared for the U.S. Travel Association by the research firm Tourism Economics. The employment devastation was similarly massive: travel-supported jobs fell by 5.6 million in 2020 (16.7 million to 11.1 million)—a whopping 65% of all American jobs lost to the economic fallout of the pandemic. Travel and tourism had supported employment for 11% of the U.S. workforce prior to the onset of COVID. The new data on travel’s dramatic losses arrives as...
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