Prior to the Covid pandemic, hotel occupancy rates were hitting record highs and average daily rates (ADRs) were rising. Now, with the possible exception of restaurants and retail shops, there is no major type of real estate that has been squeezed harder.
Expedia Group Inc.s whopping 82% decline in revenue in the second quarter has laid bare the total devastation the coronavirus has wreaked on the travel sector. Shares dipped as much as 4.8% in post-market trading.
As Covid-19 cases continue to surge across the country, travel companies report that a much-hoped-for recovery in domestic and regional travel this summer has largely stalled, dimming hopes for any meaningful rebound before 2021.
Hotels were hit fast and hard when the pandemic began to spread. Whats next for the sector?
The World Tourism Organization (UNWTO) is calling on destinations to recognize the needs of travellers with disabilities or specific access requirements as they open up to visitors again. In partnership with the ONCE Foundation of Spain and the European Network for Accessible Tourism (ENAT), the United Nations specialized agency has released new guideline to ensure accessibility and inclusivity as the responsible restart of tourism gets underway.
As one of the countries under the UKs travel corridors scheme, the Spanish tourism sector had an opportunity to regain some sort of normality and was benefiting from pent-up demand sooner than expected. However, it is expected to see demand plummet again now that restrictions have been put back in place
SiteMinders Changing Traveler Report, based on the survey responses of nearly 570 locals in Mexico, has found that at least three-in-five are currently planning their next local holiday and, when it comes to choosing their accommodation provider, well-promoted health and safety practices are the top deciding factor for 63 percent of the surveyed population.
Short-term rentals may be showing resilience in comparison to hotels, but how fragile is the recovery at this point for lodging as a whole? What happens when vacations end and schools resume in September? What is the outlook for Q4 of 2020? Will supply grow or shrink in 2021?
GBTA Urges the EU to Boost Testing Capabilities
Newly-released data from SiteMinder today reveals that hotel bookings throughout Spain rose more than 1000 percent over the two months leading into the summer, after dropping to 5.03 percent of 2019 levels on 27 April their lowest level since COVID-19 paralysed the countrys travel sector in Marc