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Change is on the Horizon: What's Next for Marketing in a Post-Pandemic World Around the world and across industries, marketers now face arguably one of the toughest challenges of their careers. There is, after all, no universally established gold-standard for marketing during a wide-spread pandemic, because a global crisis of this magnitude is hardly 'textbook'. As the media coverage so...
Expedia Group Media Solutions, the global digital advertising organization of Expedia Group, has revealed further details on its destination relief program, part of Expedia Group’s $275-million commitment to helping travel partners rebound from the impact of COVID-19 and fuel industry-wide recovery efforts. To help reignite travel demand to destinations, Media Solutions is making $25 million of advertising relief available, which...
The Kabani Hotel Group wishes you and your loved ones a happy and relaxing Independence Day weekend! This nation was founded on the principles of freedom, independence, justice and opportunity. Take this day of independence to relish and reinforce those values, which should never be taken for granted. Let our democracy, freedoms and hope for a better tomorrow for all...
Marketing Your Hotel in a Post-COVID World Requires AI Since the start of COVID-19, customer expectations have shifted, specifically to value safety and cleanliness. As travel begins to resume, however, each customer’s recovery roadmap and comfort level with travelling will be different. Some may crave a vacation immediately and will be willing to brave the airport whereas others might be...
Senate approves Paycheck Protection Program extension With hours to go before the Paycheck Protection Program was scheduled to stop accepting applications from businesses seeking federal loans to stay afloat through the COVID-19 pandemic, the U.S. Senate unanimously approved extending the application period until Aug. 8 late on Tuesday night. The legislation approving the extension will next go to the House...
The Covid-19 pandemic has halted global travel on a scale never seen before. But as glimmers of hope begin to emerge, the industry needs to be poised for a rebound. As international borders slowly start to reopen, there are two key questions top of mind for the industry: What does recovery look like, and when will traveler confidence return? Travelport,...
A new survey commissioned by the American Hotel & Lodging Association and conducted by Morning Consult found that while Americans are still hesitant about traveling, they “overwhelmingly” support efforts by Congress to help the travel industry recover. These efforts include helping hotels keep their doors open and bring back employees, as well as incentivizing Americans to travel again. Key findings:...
For now, hotel finance trends can be summed up in one word: triage. Lenders are working out forbearance and debt structuring as tourniquet measures to stanch the fiscal bleeding, while governments craft stimulus packages, generate funds for small- and mid-sized business loans and try to pick up part of the tab of unemployed or furloughed workers. What’s the longer-term prognosis?...
As the industry starts to reopen hotels around the globe, it’s important for hoteliers and their teams to do everything they can to make guests feel safe so they will travel again, sources said. From a data perspective, STR is looking for “any green shoots that could point to signs of recovery for this industry,” STR President Amanda Hite said....
The latest picture from weekly U.S. hotel performance data shows relative occupancy and rate strength in markets with outdoor demand drivers, such as beaches and national parks. Average U.S. hotel revenue per available room for the week ending 6 June was down 65% year over year, which was slightly worse than the prior week (-62.1% year over year), but that...
How should we manage the rest of the pandemic? The critical economic period is from the peak of confirmed cases to the time when effective universal testing, widespread contact tracking, effective universal vaccination and treatment are achieved. Its duration is unknown. It is the time when there is an itch to re-open the economy, and it needs an effective sequence...
Jonathan Tisch, chairman and CEO of Loews Hotels & Co., hosted the panel, which included: Keith Barr, CEO of IHG; Sébastien Bazin, CEO of Accor; Mark Hoplamazian, president and CEO of Hyatt Hotels Corp.; David Kong, president and CEO of Best Western International; Chris Nassetta, president and CEO of Hilton; and Arne Sorenson, president and CEO of Marriott International. Yes,...
Highlights: Reservations begin to rise following unprecedented disruption of hospitality services; hotel investors take steps to recover after health crisis Hotels support those displaced by virus; some assets show resilience Hotels at lower chain scales hold on to more reservations View report here
Disney World will reopen its gates, ending a multi-month closure of the park that left the Walt Disney Company reeling. The Disney theme park, which employs some 70,000 people, plans to begin a phased reopening on July 11 for its Magic Kingdom and Animal Kingdom parks and July 15 for EPCOT and Hollywood Studios, the company said on Wednesday. Walt Disney...
“I wish I owned a cleaning supply company,” says Sloan Dean, CEO and president, Remington Hotels. “Look at what happened to the price of hand sanitizer.” Hoteliers are going to be spending more – a lot more – on cleaning supplies and housekeeping to keep up with new brand standards on hygiene and guest safety. The previous protocol for companies...
Driftwood Capital, a Coral Gables, Florida-based hotel investor and manager with 69 assets from Florida to Utah, is acutely experiencing the juxtaposition of pain and opportunity found in today's hotel real estate market. Driftwood CEO Carlos Rodriguez Sr., who joined Trust Hospitality CEO Richard Millard on a webinar alongside hotelier Keith Menin and Straticon CEO Jeff Hardin, said his company's operations...
HotelAVE data predicted a five-year recovery to 2019 levels of occupancy, revenue and profitability. HVS’ “The Impact of COVID-19 on Hotel Values” puts EBITDA recovery between 2024 and 2025. The pace of recovery shifts into a different gear depending on whom you ask. With many countries starting to ease restrictions throughout May, though, it’s time for an update. The next 12...
As people become more accustomed to social distancing, curbside pickup and contactless food delivery, hoteliers are taking note and exploring further technology that reduces physical contact. Before the COVID-19 pandemic, the hotel industry had made moves toward contactless technology, such as mobile check-in and contactless payment options like Apply Pay, but it was far from an industry-wide adoption. As hoteliers navigate the...
Goodbye, breakfast buffets and bellhop service. Hello, temperature screening and keyless check-in. While pandemic-era policies are still being developed at hotels around the globe and will no doubt vary widely, it's safe to say that guests will see big changes the next time they check in anywhere. For the foreseeable future -- until a vaccine, widely effective treatment or instantaneous...
Tim Cook, Ohio State University Commencement: "Build a better future than the one you thought was certain." Hoteliers remain positive, get creative Countless hoteliers with cooler heads are counting on positivity—with a focus on the vital role hospitality continues to play—and an eye toward the future, to see them, their properties or companies through this challenging time. Hotel markets in...
Image Source: Hospitality Technology Guided by its purpose of care and experience delivering world-class hospitality for more than 60 years, Hyatt today announced a Global Care & Cleanliness Commitment to further enhance its operational guidance and resources around colleague and guest safety and peace of mind. The multi-layered commitment builds on Hyatt’s existing rigorous protocols and will include an...
Image Source: WSJ Facing a steep decline in global travel after authorities closed borders to stop the spread of coronavirus, hotels have shifted from catering to tourists and business travelers to offering 14-day quarantine packages for people asked to self-isolate, discounted long-term rates for travelers unable to go home and special pricing for health-care workers. Now, a small number of hoteliers,...
Image Source: Digital Advertising Consulting Responding to the COVID-19 pandemic in the right way is key for the hospitality industry to thrive. In “Sojern’s COVID-19 Webinar Series #3: How Hoteliers are Responding,” industry experts offered advice and illustrations of ways to respond to the crisis. Laurie Hobbs, director of marketing and public relations, Ocean House Management, discussed how the Rhode...
The American Hotel and Lodging Association (AHLA) revealed that more than 15,000 hotels have signed up for its new initiative—Hospitality for Hope, which identifies hotel properties that have offered to provide temporary housing for emergency and healthcare workers as the COVID-19 public health crisis grows. While the program will primarily focus on housing for the healthcare community, some hotels could...
Image source: Forbes Watch now
Image Source: Hotel 166 In an effort to support communities across the country during this unprecedented public health crisis, the American Hotel and Lodging Association (AHLA) today announced a new initiative – Hotels for Hope – to connect hotel properties with the health community, struggling to find housing and support as the COVID-19 public health crisis grows. The newly...
STR Webcasts and Resources Subscribe to STR’s COVID 19 E-Newsletter Register to Attend STR’s COVID-19 U.S. & Canada Weekly Performance Analysis AAHOA Covid-19 Webcasts and Resources Best regards, The Marcus & Millichap Kabani Hotel Group
Recent News: New York Gov. Andrew Cuomo orders all workers in his state to stay home, except for those in essential services | Link For a second consecutive day, China reported no new local infections | Link Initiatives With the COVID-19 outbreak deterring travel all over the world, it comes to no surprise that the hospitality industry is currently facing some heavy headwinds....
Ahmed Kabani in Punta Mita, Mexico Half of the World's Beaches Could Disappear by the End of the Century, Study Finds Climate change poses an existential threat to the world's sandy beaches, and that as many as half of them could disappear by the end of the century, a new study has found. Even by 2050 some coastlines could be unrecognizable...
Rising Sea Level and the Impact on the Real Estate Market Image Source: Forward Florida "Climate change is one of the most pressing issues facing the South Florida commercial and residential real estate market in the next decade. The discussion about the effects of climate change on the real estate market is slowly coming to the forefront of the issues...
Delta to Invest $1 Billion to Curb Global Air Travel's Climate Impact Image Source: Boeing/Business Insider "Delta Air Lines Inc said on Friday it will invest $1 billion over the next decade in initiatives that would limit the impact of global air travel on the environment, the first airline to make a commitment of that scale. Facing increasing demands from...
Airbnb, Once Profitable, Lost $322M in 9 Months Image Source: Esquire Middle East Airbnb lost hundreds of millions of dollars last year as the home-sharing business attempted to address widespread safety and security issues on its platform. The news comes as investors and executives gearing up for a planned public offering this year. The company lost $322 million in the...
Miami Will Feel Effects of Climate Change Within Next 20 Years Image Source: Miami New Times We all know by now that South Florida is on its way to sinking into the sea. Yet many of the climate change projections look so far into the future that it can be difficult to fathom experiencing an environmental doomsday in our lifetime....
STR, Tourism Economics 2020 RevPAR Forecast Lowest Since 2009 During this week's American Lodging Investment Summit in Los Angeles, STR and Tourism Economics released data forecasting flat 2020 year-over-year growth in U.S hotel RevPAR. A zero-growth projection like this has been unheard of since 2009. In addition, supply is expected to outpace demand in growth, hindering ADR growth. A recent...
The Hospitality Sector Makes Massive Headway In Climate Change Fight "The multi-billion dollar hospitality sector has been forced to keep raising the bar when it comes to sustainability. Hoteliers across the world have realized that they have a lot to lose by overlooking the importance of this critical issue. This is why hotels such as the Intercontinental Hotel Group, Starwood,...
"Climate change is increasing the severity of extreme weather events, from droughts to floods to coastal storms and wildfires, and these disasters are creating more problems for real estate. Hotels are significantly vulnerable to the rise in extreme weather, perhaps more than any other client-facing industry. The increasing number of natural disasters accelerated by a changing climate including the record...
In the new decade, it is ever important for us to make sustainable choices in business. The growing threat of climate change is having a significant impact on the hotel industry throughout the world. Hoteliers need to optimize their investments to reduce their environmental footprints not only for the sake of humanity, but to protect and insure their investments. "As...
Strong Demand for Hotel Rooms Forecasted to Follow into Next Year "For the hospitality sector, 2020 could be an exceptional year" - John Chang, Senior Vice President/National Director, Marcus & Millichap Research Services Travel trends are continuing to support demand for hotel rooms and hospitality entertainment packages, despite general concerns regarding the slowdown of the U.S economy. "The amount of...
Developers choosing higher quality brands in competitive locations over low-quality flags in opportunity zones So far, the general consensus among hotel developers have been that a top-quality brand will trump a highly competitive location. For the other brands to develop properly, they must "prove their value to define their market position". Where will be the next major downtown tourist destination?...
October reports mark the first time that U.S ADR has been down since March 2010, the start of the current uptrend. Could the upcycle be coming to an end? Two consecutive months of RevPAR decline may allude to this. Occupancy and Average Daily Rate have followed suit, after a string of months where ADR has been growing at a careful...
For many businesses and consumers, IoT is the Fourth Industrial Revolution. IoT is embedding internet-connected chips in everyday objects, enabling them to send and receive data, allowing for more autonomous and thus efficient hotel operations. Read here
"In its eighth consecutive quarter of growth, projects under construction stand at 1,729 hotels with 235,278 rooms, the highest count recorded since the second quarter of 2008" Read here
This is an excerpt from John Chang's (Marcus & Millichap Research) state of the economy update at our 4th Annual Hotel Investment Forum in October. Request Presentation Slides
What technologies will revolutionize the hospitality industry in the new decade? With the exponential growth of the internet, social media and other information technology which we have experienced since 2010, we are excited for the innovations that hoteliers will implement in their investments starting this year. As suggested in this article, hoteliers should develop their technological foundation around the desires...
