Total nonfarm payroll employment declined by 140,000 in December, and the unemployment rate was unchanged at 6.7 percent. The decline in payroll employment reflects the recent increase in coronavirus (COVID-19) cases and efforts to contain the pandemic.
Russell Kett takes a look at the year ahead and discusses what the current retrictions in the UK and the current course of the pandemic mean for UK hoteliers.
Canadian hotel occupancy fell 53.8% to 19.9% during the week of 27 December to 2 January. ADR decreased 25.9% to 124.53 Canadian dollars ($98) and RevPAR dropped 65.8% to CA$24.73 ($19.46).
The International Air Transport Association (IATA) released data for global air freight markets in November showing that freight volumes improved compared to October, but remain depressed compared to 2019. Capacity remains constrained from the loss of available belly cargo space as passenger aircraft remain parked.
Business interruption insurance is not a new thing, but framed within the context of the pandemic, it is now taking on new meaning. Before the world was turned upside down, this type of coverage replaced income lost in what could be considered a traditional natural disaster: a flood, hurricane, fire, earthquake or tornado, to name some – events that cause physical property damage.
U.S. hotel occupancy fell 17.2% to 40.6% during the week of 27 December to 2 January. ADR declined 21.5% to $107.93 and RevPAR decreased 35.1% to $43.81.
U.S. airlines November 2020 fuel consumption was 4.6% higher than October 2020, and 89% higher than April 2020. April was the lowest monthly fuel usage on record (447M gallons), dating back to 2000. November 2020 fuel consumption was down 42% from November 2019.
This article highlights some of the key trends that we expect to see in the Indian hospitality sector in 2021.
Over 180 of 300 airlines around the world achieved a 90% or higher on-time arrival since February 2020. – Atlanta was the busiest airport globally based on flights operated in 2020, taking the top spot from Chicago OHare; Three Chinese airports vaulted into the top 10 global airports by flights operated. – 76% of Chinese passenger flights operated despite the pandemic. The US (58%), India (50%) and UK (33%) saw major reductions in flight volume. – Southwest Airlines operated the most flights in 2020; China Southern Airlines, China Eastern Airlines and Air China climbed in the top 10 airlines.
November 2020 data from STR shows short-term rentals in three key U.S. cities reported mixed month-to-month performance but higher occupancy than hotels in their respective markets.