This summer was supposed to be the season of revenge travel. But that was before a new risk emerged: stubborn, elevated inflation. … READ MORE >
From distress to recovery, hospitality avoids worst-case scenarios: Spring 2022 outlook
As the pandemic appears to be moving into the endemic phase, corporate leaders are asking tough questions about business travel: When is it safe to get teams back on the road? Which planned in-person events can become virtual going forward? Does the growing focus on environmental, social and governance issues mean responsible corporations should reduce their travel footprints? Meanwhile, leisure customers weary of intermittent lockdowns and other pandemic restrictions have resumed vacation travel, helping to keep hotel occupancy at healthy levels. … READ MORE >
CHART OF THE DAY: Existing home supply lags demand and spike in real estate agents
Combine the recent spike in real estate agents with the high-demand environment and the existing home supply has not been able to keep pace. … READ MORE >
Hanging on: Five ways that hotels can survive the pandemic economy
Stung by the pandemic, hotel owners and operators have focused on finding savings in reducing staff and providing alternative services. While that has been a prudent first step, they need to go beyond those measures. RSM has identified five ways hotels can survive the pandemic. … READ MORE >
Hotels face a long road to recovery emerging from the pandemic
Even as the American economy continues to emerge from the shock of the coronavirus pandemic and economists predict strong growth this year, the forecast for the hospitality industry remains bleak. … READ MORE >
Reeling from the pandemic, hospitality industry struggles to adapt
COVID-19 has displaced hotel owners and stripped properties of guests and reliable revenue streams. In addition, travelers are not yet returning to normal patterns. … READ MORE >
Hotel occupancy data: It’s only half the story
At first glance, hotel occupancy rates have been looking favorable recently. But with many hotels closing as the coronavirus spreads, occupancy rates are not providing the full picture. That’s where a new measurement called total-room-inventory occupancy, or TRIO, comes in, and the picture isn’t so promising. … READ MORE >
Rethinking the staycation: Driving boosts hotel occupancy in regional hotspots
As cities slowly awaken from coronavirus-related lockdowns and reopen their economies, regions that rely on auto travel are leading the nascent recovery in the hospitality sector. … READ MORE >
With lifeline from Paycheck Protection Program cut short, real estate turns to bankers for liquidity
The Paycheck Protection Program, a $349 billion government effort to help small and medium-size businesses weather the coronavirus pandemic, is hitting its funding limit less than two weeks after it was launched on April 3. Now, real estate companies are looking to banks and the private sector for relief. … READ MORE >