STRs preliminary April 2021 data for London hotels shows slightly better performance compared with recent months, albeit at overall low levels.
Underpinned by stronger-than-expected demand during Q1, STR and Tourism Economics upgraded the latest U.S. hotel forecast just released at the Hunter Hotel Investment Conference
Expedia Group Media Solutions Releases Inaugural Quarterly Trend Report for Travel Recovery
Despite the gains in recent months, 17% of Leisure & Hospitality jobs have been lost (and not yet recovered) since February 2020. Leisure & Hospitality also accounts for 35% of all U.S. jobs still lost since February of last year.
How have booking windows shifted during the pandemic? Are the shifts momentary blips or the new norm? In this article, we use case studies and market-specific snapshots to answer those questions and discuss considerations for hotels competing for short-lead business.
Overall hotel investment continued to be suppressed in Q1, with the level of distress more limited than originally expected, as banks and governments globally have been generally accommodative. The plethora of capital available in the market for acquisitions is also making the bidding process more competitive for the higher-quality assets that are available for sale
For a third week, U.S. hotel occupancy remained just above 57% and 54% on a total-room-inventory basis (TRI), which accounts for temporarily closed hotels. Room demand fell slightly with the weekly level staying above 21 million for a seventh consecutive week. A closer look revealed that room demand dropped during the weekdays and increased over the weekend.
Total nonfarm payroll employment rose by 266,000 in April, and the unemployment rate was little changed at 6.1 percent. Job gains in leisure and hospitality, other services, and local government education were partly offset by losses in temporary help services and in couriers and messengers.
A new report published jointly by WIPO and the World Tourism Organization (UNWTO) on the value of intellectual property in boosting tourism shows how the IP system creates a favorable ecosystem for innovation, entrepreneurship and investment in the sector.
These case studies are designed to help other Travel & Tourism businesses further develop their own sustainability endeavors drawing on these best practices.