Hotel recovery
Travel Trouble: Florida Tourism Slowing Amid Recession Fears, Robust Competition
Florida Atlantic University | June 23, 2022
BOCA RATON, Fla. (June 23, 2022) – Florida leisure travel is showing signs of decline in recent weeks, offering yet another challenge to employers and tourism officials still trying to recover from the COVID-19 pandemic. After the Sunshine State’s tourism enjoyed a big bounce-back year in 2021, domestic and international travelers here now are finding discounts and blocks of availability in some markets. That usually doesn’t happen until the historically slow periods of August and September, said Peter Ricci, Ed.D., director of Florida Atlantic University’s Hospitality and Tourism Management program in the College of Business. ...
U.S. Travel Forecast: All Sectors Projected to Surge in Short Term, but Headwinds Are on Horizon
U.S. Travel Association | June 22, 2022
WASHINGTON (June 22, 2022)—Days after the United States repealed its Covid-19 testing requirement for inbound air travelers, U.S. Travel Association released its full biannual forecast for travel through 2026—including both travel spending and volume—which projects that all segments of travel, in spite of rising inflation, will surge in the short term due to pent-up demand and consumer savings. However, this is not expected to last, leading to slower growth in the later years of the forecast. The international component of the forecast was released earlier this month at the association’s IPW trade show. U.S. Travel estimates th...
Can the Hospitality Industry Recover?
Lex Fuller | June 20, 2022
By Lex Fuller Over the past two years, the hospitality industry has had to make major changes to deal with the many difficulties it has faced due to the COVID-19 pandemic. The most notable hurdle for the hospitality industry has been the labor shortage. With the dangers of COVID-19, it has been increasingly difficult for hotels to find and keep employees, causing the hospitality industry to make adjustments in order to compensate for the loss of on-sight workers. This leaves us with the following question, will the hospitality industry ever go back to the way it was before the pandemic? While things are opening back up after a long batt...
Contrasting Fortunes for Tourism? What We Know and Don’t Know as Tourism Ramps Up
STR | June 17, 2022
Our consumer research findings discussed in recent blogs has uncovered contrasting fortunes for tourism and hospitality. On one hand, there’s evidence of strong demand for travel and improving sentiment as COVID concerns subside. Meanwhile, on the other hand, geopolitical, economic and other global issues are coming to the fore, which may act as barriers to travel. The overall picture remains unclear as we enter the peak summer season in the Northern Hemisphere. While global factors will continue to unfold, which will shape prospects for the travel industry in the coming weeks and months, lessons can be learned from existing be...
NYU Conference Takeaways: Despite Some Challenges, the Hospitality Sector Is Still Looking Good
Rod Clough | June 15, 2022
By Rod Clough The tale of the looming recession was mixed, with some forecasting a shallow, short-lived recession, and others expecting a more significant impact. The overall sentiment remains a positive one, and that cash flow growth should continue. Despite high inflation, other economic markers, such as consumer goods, mortgage default rates, and low unemployment rates, look positive. ADR will reach new highs in 2022, with further, albeit more muted, growth expected through 2023. With little push-back being seen in the market on higher ADRs, hotel owners are able to tap into this revenue source to combat higher operating costs, infla...
AHLA Statement on COVID-19 Travel Testing Requirements
AHLA | June 13, 2022
WASHINGTON (June 13, 2022) – American Hotel & Lodging Association (AHLA) President & CEO Chip Rogers released the following statement today after the Biden Administration announced it was lifting its requirement for travelers to test negative for COVID-19 before entering the U.S., beginning at midnight Sunday, June 12. “Today’s announcement is a significant win for hotels and the broader travel industry. AHLA consistently called on the Administration and Congress to lift this testing requirement, which was out of date and had a chilling effect on inbound international travel to the U.S. Lifting the requirement will make trav...
Accommodation Preferences After COVID-19: Back to Normal or a New Normal?
June 10, 2022
There is mounting evidence that consumer behaviors and preferences are largely returning to “normal” as concerns regarding COVID-19 continue to subside. An increasing appetite for travel, the return of city breaks and waning importance of cancellation policies are just a few indicators highlighting tourism recovery as well as a return to pre-pandemic tendencies. Throughout the pandemic, most forms of accommodation have been disadvantaged as consumers have sought to minimize their interactions with others when restricted travel was allowed. As such, short-term rentals is one sector that has benefitted to a degree during the ...
HotStats’ COO Talks Profitability — Today and Tomorrow
HotStats | June 9, 2022
Hotel demand is high, rates are up, but what does it mean for the full spectrum of the profit-and-loss statement. The global hospitality industry is still facing down operational headwinds, and Michael Grove, COO of HotStats, outlined those challenges during a panel session at the International Hospitality Investment Forum (IHIF) titled, “Decoding the Data.” Grove’s presentation, which you can watch in full below, touched on myriad data points and honed in on four main issues impacting the hotel industry’s recovery from the depth of the pandemic: 1) the labour challenge 2) the return of corporate, group and conference travel 3) the...
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Today's News
Pebblebrook Hotel Trust Acquires Gurney’s Newport Resort & Marina in Newport, Rhode Island for $174 Million
STR: Canada Hotels Post Highest Rates Since September 2019
HVS Monday Musings: Rethinking Hotel Loyalty Programs in the Post-COVID World
Cycas Hospitality Appointed to Manage London’s Bankside Hotel
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