For most hotels in North America, the sales team is entering week three of the Covid19 disruption. The first week or so was just crazy, as salespeople from all market segments endured a frantic wave of cancelations and postponements. Just as that wave was starting to pass, most sales leaders had to make the difficult move of furloughing or laying off sales staff to pare down the payroll costs.
Destination Analysts' ongoing travel sentiment survey reveals how COVID-19 may more deeply change travel
As we navigate unprecedented times during the COVID-19 pandemic, the world has put travel on pause. While everyone is social distancing, people continue to stay connected online through social media, FaceTime, video conferencing, and email. People are searching for an escape and for quality content to lessen their stress and enhance the quality of time at home. In light of this, many hotels can continue creating valuable and entertaining content across channels to stay connected with guests.
Shifting from Reaction to Action
That occupancy level came one day after the Peruvian government imposed a nightly curfew to combat the spread of COVID-19. STRs most recent data for 22 March showed that just 13 of 100 rooms on average were occupied in the city.
The Comprehensive Situation Analysis should have gathered and considered all the relevant factors concerning the distressed hotel loan documents, the borrower, the hotel and their related considerations. Now it is time to consider these in light of the lenders goals and the available alternatives. Given the complexities of the typical Special Asset, it is sometimes helpful to boil it down to a summary form that may over-simplify, but at least provides a grid or framework for analysis.
TrustYou announces today the launch of its newest KPI for review monitoring, the Travel Health Index (THI). Based on data gathered from the worlds largest guest review database, TrustYou releases the exclusive report to compare hotel performance registered in 2019 with that of the current year.
From the beginning of 2020, Covid-19 spread in China and escalated into a global pandemic, impacting the travel, hotel, and catering industries. HVS Shenzhen Office combined existing market information and our own survey results, as well as the historical data, to determine the impact and provide an outlook on the Chinese hotel industry.
There is no such thing as a post-COVID-19 world. Already, the pandemic has impacted how we will live, work and travel long after the threat has passed. CEO Clayton Reid looks beyond the crisis to project how traveler behavior will shift, and how brands can leverage both short-term marketing strategies and long-term planning.
STR and Tourism Economics project the U.S. hotel industry will report a 50.6% decline in revenue per available room (RevPAR) in 2020 due to COVID-19