U.S. March Unemployment Rate Rises to 4.4%

Total nonfarm payroll employment fell by 701,000 in March, and the unemployment rate rose to 4.4 percent. These changes reflect the effects of the coronavirus (COVID-19) and efforts to contain it. Employment in leisure and hospitality fell sharply, with smaller job losses in other industries.

U.S. Hotels – Changes in RevPAR and Profits During Historical Recessions – By Robert Mandelbaum

The U.S. lodging industry was prepared for a slowdown in performance entering 2020. CBRE Hotels Research was projecting a 1.1 percent increase in RevPAR for the year. Even with this low level of revenue growth, there were certain factors that could have sustained – or at least cushioned the blow of minimal declines ­- the nine-year trend of profit growth for U.S. hotels since 2010.

Hotel Sales Teams: Two Sales Tasks You Can Do This Week To Get Ready For The Rebound – By Doug Kennedy

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.