The Hospitality Asset Managers Association (HAMA) has released the results of a wide-ranging survey of asset managers thoughts, experiences and forecasts for the upcoming year as the hotel industry continues to deal with the on-going pandemic.
Hotel Market News
In a historic first, G20 Tourism Ministers hosted more than 45 CEOs and Members of WTTC, who presented their plan to save the embattled Travel and Tourism sector and 100m jobs globally.
The Covid-19 crisis has disproportionately affected tourism, a sector that accounts for millions of jobs around the globe. While no one can say with certainty when tourism will recover, people are starting to dream again of getaways whether closer to home or to remote destinations.
As growing numbers of countries around the world ease restrictions on travel, the World Tourism Organization (UNWTO) has launched a new Tourism Recovery Tracker to support global tourism.
The EBRD and the World Tourism Organization (UNWTO) are joining forces to promote sustainable tourism, accelerate the transfer of climate finance and make green technologies more accessible for the tourism sector through the Bank online shopping-style platform Green Technology Selector.
Following various meetings with governments around the world and a letter signed by 120 CEOs of private companies, addressed to the Heads of State of the G7, the World Travel and Tourism Council (WTTC, for its acronym in English) hopes to finalize an international plan to save the travel and tourism industry from the worst threat in its history, due to the negative effects of the COVID-19 pandemic.
The majority of Global Business Travel Association (GBTA) companies expect their employees to return to in-person events in 2021.
As restrictions on travel begin to ease globally, destinations around the world are focusing on growing domestic tourism, with many offering incentives to encourage people to explore their own countries.
The COVID-19 pandemic continued to severely impair Manhattan hotels in the second quarter, as travel restrictions and business closures remained the new normal.
A devastating $155 billion looks set to be lost from the U.S. economy due to the collapse of international travel during 2020
A staggering €48 billion looks set to be lost from the French economy due to the collapse of international travel during 2020, according to the World Travel & Tourism Council (WTTC).
A devastating €38 billion looks set to be lost from the German economy due to the collapse of international travel during 2020, according to latest research conducted by the World Travel & Tourism Council (WTTC).
A devastating €36.7 billion looks set to be lost from the Italian economy due to the collapse of international travel during 2020, according to latest research conducted by the World Travel & Tourism Council (WTTC).
A staggering 22 B pounds looks set to be lost from the UK economy due to the collapse of international travel during 2020, according to the World Travel & Tourism Council (WTTC).
According to the latest published Construction Pipeline Trend Report for the Middle East, analysts at Lodging Econometrics (LE) state at the end of the second quarter of 2020, the hotel construction pipeline in the Middle East decelerated once again to 591 projects/169,538 rooms.
China total hotel construction pipeline continues to trend upward to an all-time high of 3574 projects and 647704 rooms. Up 19% by projects and 9% by rooms year-over-year (YOY), this is the 12th consecutive quarter China pipeline has increased.
Analysts at Lodging Econometrics (LE) state in the Q2, 2020 Latin America Hotel Construction Pipeline Trend Report, that the total construction pipeline stands at 681 projects / 118,936 rooms, down 4% by projects and rooms, year-over-year (YOY).
According to analysts at Lodging Econometrics (LE), the Canadian hotel construction pipeline continued to expand at the close of Q2 2020 with 296 projects / 39,645 rooms. The construction pipeline is up 8% by projects and 11% by rooms, year-over-year (YOY).
Short-term rentals have maintained higher performance levels than hotels during the time of the COVID-19 pandemic, according to the preliminary findings of a joint global analysis by STR and AirDNA.
The enormous toll of COVID-19 on international tourism has now become clear, with World Tourism Organization (UNWTO) data showing the cost up to May was already three times that of the 2009 Global Economic Crisis.