industry outlook
HospitalityVIEW Q & A With Tom Corcoran: The Hotel Industry in 2021
Michael Frenkel | December 14, 2020
Following a year of dramatic shifts and continuous uncertainty, hoteliers are hopeful about finding new footing in 2021. However, with so much noise about the potential state of the industry, it's useful to hear from senior players who have been there and done it for decades - building companies, brands and creating shareholder value throughout market cycles. HospitalityVIEW brings such leaders together regularly to advance industry thinking. Michael Frenkel, President of MFC PR and moderator for HospitalityVIEW, caught up with charter member and President of TCOR Hotel Partners, Tom Corcoran, after the group’s most recent meeting. ...
COVID-19 and Transforming Tourism
August 28, 2020
If tourism brings us together, then travel restrictions keep us apart. More importantly, restrictions on travel also prevent tourism from delivering on its potential to build a better future for all. This week the United Nations Secretary-General launched the Policy Brief “COVID-19 and Transforming Tourism”, which UNWTO assumed the lead role in producing. This landmark report makes clear what is at stake – the threat of losing tens of millions of direct tourism jobs, the loss of opportunities for those vulnerable populations and communities who stand to benefit most from tourism, and the real risk of losing vital resources for ...
Will They Hit the Road on Day One?
Mower | May 13, 2020
NEW YORK – May 13, 2020 – More than one in four U.S. adults say travel is among the activities they are excited to return to when experts sound the all clear on COVID-19 restrictions. But will they be ready to go on Day One? A survey by independent marketing, advertising and public relations agency Mower reveals that 60 days will pass before a majority of Americans will feel comfortable returning to most travel-related activities. Americans will be more inclined to take the wheel than take to the skies It will be Day 30 before half of Americans anticipate feeling comfortable taking a vacation by car and Day 60 before half will fly...
From Density to Distancing
H. Keith Thompson | May 12, 2020
By H. Keith Thompson, Principal Avison Young Hospitality Group Ten short weeks ago, business was about packing in as much density with as many people as possible. From hotels, conventions, sports venues, air travel, resorts, retail, and office buildings - down to going to a Costco. Now, ten weeks later, it is all about staying separate and distancing yourself from other people. How can this be possible? Because COVID-19 (‘CV”) has caused a shift in the paradigm of personal life and commercial life that no one saw coming. Ten weeks in, we now judge every face-to-face interaction differently than we used to. Behind closed doors, al...
Hotel Industry 2020 – The New Normal
Robert Rauch | May 4, 2020
By Robert Rauch and Sarah Andersen Welcome to the Twilight Zone or the surreal existence of those of us in hospitality with empty hotels. They are slowly and not so surely picking up but we will return to a “new normal” soon. What will it look like? The “light and warmth of hospitality,” coined by Conrad Hilton, will not be apparent upon entrance to a hotel post COVID-19. Expect acrylic covered front desks, masks and gloves, signage advising guests to use caution, frequent disinfecting of public spaces, wide open lobbies with limited seating and restaurants and bars that have six feet of separation in every direction. The good news...
Avison Young Shares Q2 2020 Insights
Avison Young | May 4, 2020
Avison Young Principal Keith Thompson (based in Atlanta) discusses Q2 2020 trends in the hospitality market. ...
hotelAVE Projects a Five-Year Recovery Period for Hotel Industry Post Coronavirus
hotelAVE | March 19, 2020
Business Recovery Duration Similar to that Following September 11th & The 2008 Financial Crisis PROVIDENCE, R.I., March 19, 2020 -- Hotel Asset Value Enhancement (hotelAVE), the premier hotel asset management company, in a study released today, estimated that it will take the hotel industry in the United States approximately five years to achieve pre COVID-19 occupancies, revenues and profitability. In addition, the hotelAVE COVID-19 Hotel Outlook predicts that the pace of the five-year recovery from the pandemic will be extended after an immediate mini-spike beginning in May or June, as the impact on the travel and hotel industry i...
HVS Global Hotel Industry Outlook – Ushering in a New Decade
HVS | January 2, 2020
The Global Hotel Industry Outlook report provides expert insights into regional performance for Asia, Canada, Europe, India, Mexico, Middle East, and the United States The Canadian lodging industry has reached peak performance levels—RevPAR and profitability are at all-time highs. However, growth has slowed since the summer, and operating performance appears to be shifting into a lower gear. Growth in the Canadian lodging sector is slowing, but the country remains a sound market for investment. The fundamentals of the industry are healthy, and demand growth is expected to keep pace with supply increases next year, resulting in moderate ...
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