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The COVID pandemic wreaked havoc on hotels. While room revenue has almost recovered nationally to 2019 levels, food and beverage revenue continues to lag 2019—but maybe that is OK.
Business Hotels Face Increased Default Risk in Uneven Travel Recovery. Some hotel owners who survived the pandemic are seeing that the travel rebound may not persuade lenders to offer new credit as their debts mature. Leisure travel has improved since last year, but hotels with big meeting spaces relying on business trips and conferences are..
Are U.S. Hotels Ready for ‘Revenge Travel’ from China? China is set to relax international travel restrictions following three years of strict quarantine policies. In 2019, China stood as the fifth-largest contributor of international travelers to the United States, with nearly 3 million visitors, as outlined in the International Trade Association’s “China—Country Commercial Guide.” With..
Over the last two years, resort RevPAR grew over 30% and many bottom lines doubled. Yet, consumers had no rate sensitivity. They craved getting away; they booked suites and splurged on prix-fixe meals and expensive wine. An unintentional reduced workforce and the elimination or reduction of services contributed to the strong bottom line expansion, though..
How Eroding Customer Satisfaction Impacts Profit. As hotel demand returns to pre-COVID levels (or exceeds it in the case of destination resorts), hotels are facing new challenges particularly as it relates to the guest experience. Staffing shortages, supply chain challenges and reduced or modified levels of service show their scars throughout the industry. What has..
July 8, 2022 / USA Today Some hotels are in desperate need of a post-pandemic renovation. Here’s what they should do After a long pandemic, many hotels are run-down and in desperate need of renovation. If you aren’t careful, you could stay in one this summer. When it comes to hotel development spending, the U.S...
According to a May 2022 article published by Trepp, close to 9% of all CMBS loans in the hospitality asset class were in special servicing. Although the year-over-year default rate has improved, there may be signs of trouble ahead..
At its post-COVID peak in 2021, corporate travel indexed at 80 percent of 2019 levels while leisure travel exceeded 2019 levels. All signs are positive for the return of travel. Airports, hotels, restaurants and entertainment venues are busy but corporate travel is still lagging. So why is corporate travel not catching up? Read the..
Travel Daily News article on Branded All-Inclusive Resorts. Once considered primarily a hospitality segment catering to budget-conscious travelers, today’s major all-inclusive companies offer a sophisticated guest experience and a wide array of amenities and services at various price points. These customized and high-end products and services help create lasting memories among a more demanding clientele...
