industry recovery
Meetings Up 350 Percent Year-Over-Year From January 2021
KNOWLAND | February 3, 2022
Knowland data indicates steady growth in meetings and events ARLINGTON, VA — February 3, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for January. Meetings are up 350 percent year-over-year from January of 2021 while month-over-month there was a slight decline of 16.5 percent from December 2021 to January 2022. Register for Knowland’s Outlook for the Meetings Industry Recovery 2022-2024 Webinar on February 8, 2022, 1:00 pm ET to learn more. Average meeting metrics are at or near 2019 numbers. While volumes...
Although Pre-Pandemic Profitability Will Remain Elusive, the Industry Will Make Strides Toward Recovery in 2022
Fran Worrall | January 5, 2022
By Fran Worrall As the new year begins, industry experts are increasingly hopeful about the state of hospitality. After almost two years of an unprecedented downturn and despite ongoing effects of the pandemic—including the emergence of new COVID-19 variants and increased consumer awareness regarding health and well-being—2022 looks to be more promising as the industry figures out how to fulfill guest expectations without compromising safety. HU/HO recently sat down with three hospitality insiders—Hospitality Sales & Marketing Association International (HSMAI) President & CEO Bob Gilbert, Knowland CEO Jeff Bzdawka, and Kal...
The Post-Pandemic Hard Reset
Vikram Singh | July 13, 2021
By Vikram Singh I wrote two articles during the pandemic, one around the beginning and one in the middle. It’s time to complete the trilogy. Our industry has been given a once-in-a-lifetime chance to fundamentally change itself. How we market, price and operate hotel assets needs to evolve to meet the changing market landscape. Here are my thoughts on how to make real changes in order to embrace the tremendous opportunities that lie ahead. Embrace the Hard Reset The hotel and travel industry was ground zero for the impact of global lockdowns: the hard reset button on the entire industry was pressed. A hard reset on an electronic ...
U.S. Market Recovery Monitor for Week Ending 22 May 2021
STR | May 28, 2021
The leisure-led demand surge marched forward with U.S. industry occupancy hitting 60.3%, surpassing the 60% level for the first time since early March 2020. On a total-room-inventory basis (TRI), which accounts for temporarily closed hotels, occupancy was 57.7%, which was also the highest since the pandemic’s start. More importantly, all key measures (demand, occupancy, ADR and RevPAR) reached a 62-week high, led by the Top 25 Markets, where on average, each hotel sold an additional 15 rooms last week versus the previous week. In total, the industry sold more than 3.3 million rooms each day during the week, a level like November 2019, but 3...
A Year After the Hotel Industry Collapsed, Guests—and Performance—Trickle Back
HotStats | May 27, 2021
April 2020 was not for the faint of heart. The month will live in infamy for the global hotel industry, which saw the bulk of its key performance indicators sink to unprecedented levels, an unfortunate by-product of the COVID-19 vapor. The subsequent 12 months have been a slog, but as the world transitions slowly back to a semblance of normalization, hotels are following suit. In sum: Performance is improving, but it’s still ways away from the pre-pandemic era. U.S. Pickup U.S. hotel profit has moved in the right direction since the beginning of the year, around the time when it first started to break even. As the country’s phased r...
Senior Team Alignment Critical for Leisure and Group Recovery Success
Larry and Adam Mogelonsky | May 5, 2021
By Larry and Adam Mogelonsky The recovery in the leisure sector is imminent, and we argue that small groups aren’t far behind given that ‘revenge travel’ also implies a strong yearning to reconnect and congregate. A return to healthy numbers won’t be evenly spread across all hotels, though. It will favor those properties and those organizations that are already prepared for a diverse range of ramp-up scenarios, with others leaving revenue on the table by not having plans in place prior to this next phase. While hotels could hardly have predicted or prevented the advent of COVID-19, what we’ve witnessed in the latter half of 20...
6 Key Learnings From an Unprecedented Year in Hospitality
Matthieu Mauguin | January 18, 2021
By Matthieu Mauguin An inspiring look at the gains and losses that the Covid crisis has brought upon the Hospitality industry. The future is remarkably hopeful and full of innovation-driven malleability. Resiliance and courage displayed by the industry At the end of 2019, hospitality professionals seemed to have a good idea of what to expect in 2020. From the impending advent of new AI solutions to the generalization of online marketing, most analysts predicted that the industry would keep on riding its growth spur towards a complete digital transformation. Enter the COVID-19 outbreak, and, alongside it, the emergence of an apocalyp...
WTTC Says New Travel Measures to Curb COVID-19 Should Replace Quarantines
WTTC | January 8, 2021
Gloria Guevara, WTTC President & CEO, said: “WTTC supports measures designed to curb COVID-19 and protect public health but calls for the complete removal of unnecessary quarantines. “Requiring inbound travellers and holidaymakers to provide proof of a negative COVID-19 pre-departure test should ensure safe travel. This will be critical to encourage essential bookings for future flights and holidays. “However, there is still uncertainty around the type of tests which will be accepted upon arrival, and they must be made widely accessible and affordable for all. “But unlike many other countries where the proof of a negativ...
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