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Hotel Operators Must Be flexible, Be Lean and React Quickly to Change, Says HVS Webinar Panellists
HVS | July 9, 2020
09 July 2020, London: Financing the cost of re-opening the hotel sector was the hot topic tackled in the second hotel webinar organised by global hotel consultancy HVS, legal firm Bird & Bird, EP Hospitality and AlixPartners, which was held yesterday [8th July]. The seminar, with nearly 350 industry executives attending, kicked off with an overview from EP Hospitality chief executive Chris Sheppardson, who said that Covid-19 was “the greatest catalyst for change for the last 60 years”. It’s vital, he said, to share information and communicate as noone has ever experienced anything with such a far-reaching impact.AlixPartners’ m...
The Importance of Sporting Events for the Las Vegas Market
Shannon Okada | June 30, 2020
By the time Nevada’s Governor Sisolak ordered the closure of Nevada’s non-essential businesses and urged residents to implement social-distancing measures to reduce the spreading of COVID-19 on March 17, 2020, the National Hockey League (NHL) and National Basketball Association (NBA)had suspended their 2019-20 regular seasons, and Major League Baseball (MLB) had suspended its Spring Training and delayed the start of the 2020 regular season. In addition, the National Collegiate Athletic Association (NCAA) Division I Men’s Basketball Tournament, commonly known as March Madness, and the National Football League (NFL)’s plans to hold its ...
Beyond Borders: Hospitality Updates from Across the Globe
Russell Kett | June 26, 2020
By Russell Kett Industry experts from around the globe share what they are seeing in their markets today, the status of travel restrictions, how their governments are supporting the industry financially, and how they see the recovery process starting and playing out. Held on Tuesday, June 23, 2020 Moderator: Leora Halpern Lanz, ISHC, Associate Professor of the Practice & Chair of the Graduate Program, BU SHA Panelists include: Kaushik Vardharajan, Faculty, BU SHA, Patricia Boo, Area Director LATAM, STR, Adeline Phua, HCC/ Verimag, Shanghai/Singapore, and Russell Kett, FRICS, Chairman, HVS London. ...
HVS: Emerging Hotel Brands
Brittany Hart | June 23, 2020
By Brittany Hart As COVID-19 was declared a global pandemic by the World Health Organization (WHO) on March 11, the hospitality industry began to experience sharp declines in lodging demand given the cancellation of events and the travel restrictions set by the government, which contributed to the drop in all performance metrics. For example, RevPAR for U.S. hotels was down 65% for the week of May 31 through June 6, compared to the same week in 2019. Nevertheless, franchisees continue to search for brand-growth opportunities. Several new brands, ranging from economy to upscale products across all service levels, are being created to occupy...
Creativity and Flexibility Become Key for the Hotel Sector’s New Normal
HVS | June 17, 2020
17 June 2020, London: An international hotel webinar held last week [10th June] to discuss the hotel industry’s journey out of lockdown, warned of the long road ahead for hotel operators to reach full recovery, and the likelihood that the hotel sector and the way it operates will be forever changed as a result of the Covid-19 pandemic. The webinar, organized by global hotel consultancy HVS, legal firm Bird & Bird and EP Hospitality, attracted nearly 700 industry executives from across the world, with 18 senior industry experts presenting as speakers, panellists and moderators. A session addressing post-lockdown re-opening strateg...
The Case for Targeted Federal Aid to DMOs and Tourism Agencies
Thomas A. Hazinski | June 4, 2020
By Thomas A. Hazinski, Joseph Hansel The COVID-19 pandemic has placed at risk the substantial investment of state and local governments in the tourism and hospitality industries. Publicly funded destination marketing organizations (“DMOs”), tourism agencies, and convention centers face budget shortfalls, staffing reductions, and growing financial uncertainty. Targeted federal aid is urgently needed to support DMOs, tourism agencies, and convention centers whose work is critical to the recovery of vital sectors of the US economy. Introduction The COVID-19 crisis has shined a spotlight on the importance of public sector investme...
Domestic Bookings Could Prove a Silver Lining for UK Hotels
HVS | June 2, 2020
02 June 2020, London - The UK hotel sector’s traditionally strong domestic leisure demand bodes well for the sector’s recovery once lockdown measures from Covid-19 are fully lifted, according to a new report from global hotel consultancy HVS. However, the report outlines that hotels in the capital and other gateway cities, with heavier reliance on international travellers and corporate bookings, are likely to take longer to recover than those in the provinces, which have a more domestic, leisure-based guest profile. Many hotels outside London typically generate over 50% of domestic room nights from holidaymakers. In the Southwest of ...
COVID-19 Recovery in the UK – The Importance of Domestic Demand
Stephen Collins | May 28, 2020
By Stephen Collins Like much of the world, the UK has been hit hard by the coronavirus, with more than 37,000 deaths and 265,000 confirmed cases as of 27 May and the highest number of attributed deaths in Europe (although fewer deaths per capita than Spain, Italy and Belgium). The pandemic has hit all areas of the economy, but the hospitality industry has undoubtedly been and will continue to be one of the worst affected. Fortunately, there is light at the end of the tunnel for the lockdown phase, and the focus of hoteliers is shifting from how to manage the closure to developing a sound reopening strategy. On Sunday, 10 May, Prime Mi...
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