russell kett
The Impact of COVID-19 on the European Hotel Sector
Russell Kett | September 24, 2020
By Russell Kett There is no doubt that the COVID-19 pandemic has had a most dramatic effect on the hotel business throughout Europe and words like ‘unprecedented’ and ‘unique’ are used liberally to describe the situation. Performance data from STR for the first half of the year compared with 2019 show how dramatic the effect on the hotel sector has been with RevPAR since March 2020 nose-diving, with many hotels closing their doors. Figure 1 shows the performance of those hotels which remained open during this period. (Adding in those hotels achieving zero RevPAR would make the graph look worse still.) Figure 1: European Hotels R...
Hotel Investors Across Europe Have ‘Wall of Money’ and Confidence in the Sector’s Ability to Recover, Hears Webinar
HVS | September 17, 2020
17 September 2020, London: A webinar held this week [15th September] hosted by HVS, AlixPartners, Bird & Bird and EP Magazine, heard a distinguished panel of experts debate the impact of the global pandemic on hotel values across Europe and whether it had in fact, created an investment opportunity. HVS London chairman Russell Kett kicked off the session by noting the improved performance of hotels in July, compared with April of this year, despite many properties remaining closed. “Things have started to move in those properties that have re-opened,” he said, “business is starting to come back. These are good signs with strong in...
Multi-Year Recovery Along With New Opportunities for the Travel and Hospitality Sector, Predicts HVS Global Leadership
HVS | September 10, 2020
DENVER, CO, September 10, 2020: HVS senior management across the globe hosted a webinar on September 8, 2020, to offer expert perspectives on key hospitality topics including how the COVID-19 pandemic has affected their respective regions and the kind of recovery hoteliers can anticipate, as well as the long-term changes the sector is likely to experience. Opened by CEO Stephen Rushmore and moderated by HVS London Chairman Russell Kett, the webinar also included a straw poll, in which 51% of the over 1,800 global participants said they expected RevPAR (rooms revenue per available room) to return to pre-COVID-19 levels during 2023, wit...
Israel Set to ‘Bounce Back’ From Pandemic as Lessons Have Been Learned Before, Hears Webinar
HVS | September 2, 2020
02 September 2020, London: In a buoyant message to a webinar audience of some 300 hotel operators, investors and owners, held yesterday [1 September 2020] Israel’s Minister of Tourism was confident the country’s hotel sector would make a full recovery post-Covid, because historically the country had done so before. Asaf Zamir, speaking on an international webinar hosted jointly by HVS and the Israel Tourism Ministry, said: “because of the country’s history – with war and security – it has learnt how to bounce back more than anywhere, because we know how to do it.” Israel’s tourism sector, he said, was already showing rec...
Israel Hotel Market Overview 2020 – The Path to Recovery
Simon Hulten | August 5, 2020
By Simon Hulten, Russell Kett Foreword The restrictions imposed due to the COVID-19 pandemic have severely hit every sector across the globe, and the hospitality industry is undeniably among the hardest hit. In Israel, strict lockdown measures were implemented in mid-March, forcing all except non-essential businesses to close, including most of the country’s hotels. Fortunately, there is light at the end of the tunnel for the lockdown phase and, on 4 May 2020, Prime Minister Netanyahu outlined a gradual easing of lockdown restrictions; the focus of hoteliers has thus shifted from how to manage the closure to developing a sound reopenin...
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...
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. ...
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...
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