MMGY Travel Intelligence has released the inaugural findings from a benchmark series of biweekly surveys of North American destination professionals. The surveys track how this sector has been affected by COVID-19 and what shifts organizations are making during a period of very fluid change. Preliminary findings reveal that, in the span of about two weeks, the reverberations of the pandemic dramatically changed the sectors outlook, operations and marketing spending.
California, New York, Pennsylvania, Texas Lead Dramatic Declines
Passenger traffic slumps, cargo demand holding up
In his lecture Florian Bauhuber talks about the future of tourism and the current situation regarding AI.
U.S. airlines carried 5.6% more scheduled service passengers in January 2020 than in January 2019, according to preliminary data filed with the Bureau of Transportation Statistics (BTS) by the 25 airlines that carry the most passengers.
Number of jobs at risk from COVID-19 pandemic is up to 75 million
The lodging sector will face two headwinds: a contraction in overall economic activity and the need for social distancing, which encourages staying at home or in settings with few other humans; and not traveling. This will cause a severe decline in lodging demand in the U.S., as it has in other countries. CBRE estimates that RevPAR will decline 37% in 2020, with a contraction of more than 60% in Q2.
Survey of more than 4,000 operators offers details on how outbreak is hurting sales, operations.
This sentiment survey was conducted by Horwath HTL Singapore, in conjunction with the SHA (Singapore Hotel Association) to gauge the initial impact of the COVID-19 pandemic.
The hospitality industry is entering uncharted territory. As concerns surrounding the continued transmission of COVID-19 continue to mount, we find ourselves isolated in our homes, unsure of when this pandemic will pass. What does the future hold for our communities? Moreover, what will this crisis mean for those businesses who have ceased operations due to recent recommendations and mandates for complete shutdowns?