covid
Will the Hospitality and Travel Industry Recover in 2021?
Linchi Kwok | February 17, 2021
By Linchi Kwok Spring will soon be here. People are celebrating the Lunar New Year. Do you see a brighter future in 2021? Without a doubt, 2020 was a challenging year for most. Besides lockdowns, many companies let employees work from home permanently. When many business activities were put on a break and supply chains were interrupted, the global economy collapsed. COVID-19’s impact on the hospitality and tourism industry has been devastating and unprecedented. How tough was it in 2020? The aviation industry According to the International Civil Aviation Organization, global air traffic dropped from 4.5 billion in 2019 to 1...
How Are Hotels Adapting and Innovating During COVID-19?
Company Debt | February 9, 2021
Covid-19 has hit businesses of just about every shape and size hard, but few have felt the effects quite as strongly as those in the hospitality industry. Bars, restaurants and hotels in many parts of the world have been forced to close as restrictions to limit the spread of the Coronavirus have taken hold. Before the pandemic slammed the breaks on international and domestic travel, the global hotel trade was looking rosy. The corporate travel industry alone was forecast to grow into a $1.7 trillion industry by 2023. But rather than enjoying what was predicted to be one of the biggest growth spurts hoteliers have ever seen, they have been...
Is This the Year the World Will Finally Return to Normal?
Michelle McKinney Frymire | February 1, 2021
By Michelle McKinney Frymire As a Finance and Strategy leader, an important part of my job is trying to “see around corners” for our company – to know what is coming and how to react to it, but I must admit that a year ago I would not have predicted where we are today. And, while I still can’t predict when the pandemic will end, there are some things I see about 2021 that I would like to share. The first is a view some of you may not want to hear -- I can confidently tell you that the world is never going back to the “normal” that existed before the pandemic. It is time to move to our “next normal”, and frankly, I wouldn...
U.S. Hotel Occupancy Falls Back Below 40% Mark
STR | January 14, 2021
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy fell back below the 40% mark, according to STR‘s latest data through 9 January. 3-9 January 2021 (percentage change from comparable week in 2020): Occupancy: 37.0% (-28.3%) Average daily rate (ADR): US$87.97 (-27.1%) Revenue per available room (RevPAR): US$32.59 (-47.7%) The previous week’s occupancy was lifted by New Year’s travel. As that holiday travel dissipated, TSA checkpoint counts and hotel room demand each declined by roughly 1.3 million in a week-over-week comparison. Aggregate data for the Top 25 Markets showed lower occupancy (35.8%) but highe...
The Post-Pandemic Hotel Experience From the Experience Expert
Larry Mogelonsky | December 9, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) As COVID-19 continues to upend travel and rewrite daily habits, hotels must nevertheless continue to differentiate their products in order to better appeal to guests in the next normal and build revenues. While much needs to be done insofar as safety upgrades and facilitating a contactless customer journey through tech enhancements, it all inevitably comes down to the guest experience. And so, I turn to the man himself who coined the phrase ‘The Experience Economy’, Joe Pine. A thoroughly affable man based out of Minneapolis, his ongoing writing, speaking engagements and work wi...
Mind the ‘COVID’ Gap
Thomas Mielke | December 3, 2020
By: Thomas Mielke, London | James Houran, Ph.D., Dallas There was a collective sigh of relief in early November when Pfizer/BioNTech, Moderna and the Oxford-AstraZeneca team announced in rapid succession their news of vaccines with 90%-plus efficacy rates. However, business leaders in the hospitality industry understand that these positive developments are not a ‘silver bullet’ to solving pressing problems in the here and now. Neither will be the breaking news of the now UK-approved Pfizer/BioNTech vaccine. The World Health Organisation (WHO) estimates that coronavirus vaccines might be deployed, at scale, early to mid-2021. Challen...
Travel Industry: Appropriate Testing Protocols A Must or U.S. Economy Will Lose $155 Billion Due to International Travel Collapse
the Global Business Travel Association | September 11, 2020
Aviation industry groups urge the Administration to take necessary steps to safely open international travel markets Alexandria, Virginia (September 10, 2020) In a letter released today, 18 travel and aviation industry groups called on the Administration to take coordinated and deliberate action to safely reopen international travel markets. The letter, addressed to Health and Human Services Secretary Alex M. Azar II, Homeland Security Acting Secretary Chad F. Wolf, and Department of Transportation Secretary Elaine L. Chao, from the Global Business Travel Association (GBTA), along with groups like the U.S. Chamber of Commerce and Air T...
McLaren Technologies Leads Forward-Thinking, Tech-Driven Strategy at the Iconic Byron at Byron
McLaren Technologies | September 2, 2020
Is this Australia’s most luxurious contactless check-in experience? Three reasons why Byron at Byron, a Crystalbrook Collection Resort, will reopen as Australia’s most luxe post-pandemic hotel haven this spring AUSTRALIA, 02 September 2020 – As Australia moves into post-pandemic travel territory, several progressive hotels and resorts are adapting quickly to meet the changing demands of travelers in 2020. One property leading the charge (and change) is the iconic Byron at Byron, set to reopen its doors to the world (well, perhaps just Australia for the short term) as a Crystalbrook Collection Resort on 1 September 2020. Fresh ...
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