302 | Value Judgment: Hotel asset pricing in COVID-19 age is different from previous recessions
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CORONAVIRUS
January 20, 2021302 | Value Judgment: Hotel asset pricing in COVID-19 age is different from previous recessions
Hotel appraisers and brokers expect distressed assets to come to market as the pandemic recession continues into 2021. Analysts say billions of dollars in private equity are waiting in the wings to acquire hotels underperforming as a result of the coronavirus crisis. But pricing will be different than in previous economic downturns. While a transaction may be distressed, it will not necessarily reflect distress pricing,” said Daniel Lesser of LW Hospitality Advisors. Long Live Lodging explores the state of hotel values as well as what may lie ahead with regard to transactions in 2021 as the spread of COVID-19 continues to stifle lodging performance. This report is part of our ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.
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HUMANS OF LODGING
January 13, 2021‘Stuck at the Moxy’
In the immediate aftermath of the suicide bombing in downtown Nashville, two hotel employees focus on serving, protecting guests pril Largent had been front desk agent at the Moxy Nashville Downtown for about two months when she relieved the night auditor just before dawn on Christmas Day. She was expecting the building engineer and a read more
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October 7, 2020She Has a Deal
She Has a Deal is a hotel development competition in which all-women teams pitch their ideas to prospective investors to win $50,000 in equity toward their project. Tracy Prigmore, founder and CEO of TLTSolutions, a hotel investment group, created She Has a Deal to open doors for women interested in hotel ownership. Five teams will read more
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CORONAVIRUS
January 13, 2021301 | The Road Warrior Ahead: Business travel will come back ‘with a vengeance,’ say experts
Global business travel is a $1.4 trillion industry. The Global Business Travel Association calculates the coronavirus pandemic in 2020 resulted in a loss of $113 billion in business travel spend in hotels, airlines and other sectors of the travel industry. But all is not lost. GBTA, industry analysts and travel management companies see some green shoots of hope for 2021 as the COVID-19 vaccine rolls out and corporations put some of their people on the road again. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.
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CORONAVIRUS
January 6, 2021300 | 2020 Hindsight: Lodging Leaders reviews hot topics, gives sneak peek of what’s ahead
Long Live Lodging, an online multimedia news organization that covers the hospitality industry, found itself tossing aside its plans for news coverage late in the first quarter of 2020, when the coronavirus pandemic hit the U.S. and devastated the hospitality industry. The year turned out to be ground-breaking for Long Live Lodging, which developed the industry’s first live digital conference, and its podcast, Lodging Leaders, which increased its followers through timely, credible and balanced reporting on trends and issues driving the industry during the historic year. The company also won international recognition for its coverage of the COVID-19 crisis and its work as a whole. Long Live Lodging is a startup media company, formed in 2019, with Lodging Leaders, which was founded in 2015. In today’s report, we celebrate the podcast’s 300th episode. Podcast founder and co-host Jon Albano and co-host Judy Maxwell have a free-wheeling conversation in which they review the top podcasts of 2020 (Can anyone say ‘fair franchising’?) and give a brief preview of what the media organization plans for 2021.
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CORONAVIRUS
December 30, 2020299 | Conserve Cash, Save the Hotel: What asset managers are doing to survive the long COVID winter
The damage wrought on hotel businesses by the coronavirus pandemic is wide and deep. But the longevity of the pandemic is proving to be truly devastating, especially as the U.S. experiences another surge in the infection rate. In the early days of the crisis, owners, operators and asset managers acted quickly to prevent hotels from closing. Some advisers helped owners weigh the pros and cons of remaining open or temporarily closing. As the pandemic continues its assault, hotel operators are figuring out ways to stabilize their businesses while holding out hope the vaccine will trigger the start of a recovery. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.
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CORONAVIRUS
December 16, 2020298 | Ready to Order: Ghost kitchen concepts may save the restaurant industry
The coronavirus pandemic has forced restaurants to close or scale back in-house dining operations in response to government mandates and residents sheltering in place. The crisis is accelerating the emerging trend of “ghost kitchens,” restaurants that cook up delivery-only menus and depend on third-party delivery services such as DoorDash and Uber Eats to serve their customers. Adding a tech-driven delivery model to any restaurant, whether it’s stand-alone or inside a hotel, could generate new streams of revenue and save businesses and jobs. Long Live Lodging explores the ghost kitchen concept and how meal delivery has permanently changed the hospitality industry. This is part of our ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.
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CORONAVIRUS
December 9, 2020297 | Reply All: How hotels can use email to build back business
The coronavirus pandemic has affected nearly every aspect of business. Consumer buying habits are no exception as more sales than ever have shifted online. Omnisend recently charted a dramatic increase in consumers’ response to emails from retailers since the start sheltering in place.
The hospitality industry can take a page from retailers’ email-marketing playbook as hotels and other accommodations brainstorm for creative ways to reach out to a captive audience of travel consumers.
We explore how hotels can use email to connect with both loyal and prospective guests as the lodging industry prepares to emerge from its COVID-19 quarantine. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry. -
CORONAVIRUS
December 2, 2020296 | Flexible Business Model: Apartment-hotels are an emerging trend in an industry in crisis
It’s well known extended-stay-hotel and short-term-rental sectors have done better than their transient hotel counterparts during the coronavirus pandemic. Even before the crisis hit, residential-type accommodations were seeing a growth in interest from travelers as well as investors. The COVID-19 outbreak is proving mixed developments of hotel rooms, leased apartments and owned condominiums offer a unique value proposition during and after the pandemic. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
November 18, 2020295 | Doing Well: Coronavirus pandemic advances wellness design and programs in hotels
The coronavirus pandemic is forcing the lodging industry to rethink health and wellness. Designers such as Blanche Garcia of B. Garcia Designs see this as an opportunity for hotels to revise their messaging beyond clean and safe by introducing wellness products and programs they can market and attract guests who want to feel good during their stay and return home feeling better than when they left. Those who promote healthy buildings as well as safe travel are exploring how implementing elements of wellness can be a cure for hotel businesses struggling to survive the COVID-19 pandemic and the subsequent economic downturn. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
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DIVERSITY
November 11, 2020294 | She is a Hotel Investor: What She Has a Deal can teach every hotel investor
She Has a Deal, a program that promotes women as hotel owners, last month minted several new investors through its inaugural pitch competition. Long Live Lodging examines what it took for the three women who comprise the team called Datcher to win the top prize of $50,000 in equity in a fund that would include their $27.4 million project proposed for downtown Detroit. Two additional projects proposed during the competition were selected to benefit from She Has a Deal’s first investment fund. Datcher’s winning formula as well as the other project proposals can be emulated as hotel developers and investors search for ways to fund upcoming projects that reduce investors’ risk while delivering a healthy return as the lodging industry navigates its way through the business downturn caused by the coronavirus pandemic.
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CORONAVIRUS
November 4, 2020293 | Crisis Managers: Coronavirus challenge redefines GM role
General managers of hotels throughout the U.S. are redefining their job descriptions as they make beds, do laundry, vacuum lobbies and patrol parking lots – all jobs once done by employees they’ve had to lay off when the coronavirus pandemic struck in March. GMs also are charged with cutting costs and finding ways to maintain asset values amid a steep downturn in business. A recent study shows that even though hotels are calling some employees back to work, the number of hours GMs are spending at work has not decreased. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
October 28, 2020292 | People of Persuasion: Travel influencers grow in sophistication and significance in COVID-19 age
Hoteliers might think of a travel influencer as a selfie-obsessed millennial looking to wrangle a free night stay in exchange for a positive review. But in the COVID-19 age even influencers would agree: Nobody’s got time for that. Influencers have come of age and are turning out to be digitally savvy sophisticated content creators who can be part of a hotel’s marketing strategy as it works to emerge from the coronavirus crisis with new business on the books. Long Live Lodging peeks into the world of travel influencers and how they generate online content that promotes people, places and things to audiences traditional marketing might never reach. This report is part of our ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
October 21, 2020291 | On The Brink: Hotel associations lobby on Capitol Hill to ward off disaster
Leaders at AAHOA and the American Hotel & Lodging Association say time is running out for the nation’s 57,000 hotels in need of federal government financial relief as the coronavirus pandemic in the U.S. heads into its eighth month. Cecil Staton, president and CEO of AAHOA, and Chip Rogers, president and CEO of AHLA, are tirelessly rallying the industry to implore Congress to act soon before half of the country’s hotels go into foreclosure. This report is part of our ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
October 14, 2020290 | DAY-CATIONS: Hotels turn guest rooms into private office spaces
With hotel occupancies hovering around an average of 50 percent, owners and operators are seeking new ways to generate revenue beyond traditional overnight stays. One solution in the works is day use of hotel rooms. Hotel companies such as Red Roof, Hyatt Hotels Corp. and Hilton are promoting the practice during the COVID-19 pandemic. Ahead of the curve is HotelsbyDay.com, a day-use booking platform that is marketing hotels as the new office space. Long Live Lodging explores the unconventional use of hotels and how owners and operators can position their properties to attract day users. This is part of our ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
October 7, 2020289 | OTA Protest: Reform Lodging members to blackout rooms
Reform Lodging is a new organization of hotel owners formed to address problems its members are facing as a result of the downturn in business caused by the COVID-19 pandemic. First issue on its list is the size of commissions levied by online travel agencies. Reform Lodging is asking its nearly 2,000 members to remove their rooms from OTA inventory on Friday and Saturday to protest the compensation practice. Long Live Lodging reports on the “Lights Out, OTA!” campaign and explores the financial implications of OTA commissions and franchisers’ reservation fees on owners of branded hotels. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.