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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.
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CORONAVIRUS
September 30, 2020288 | ‘The Big Pause’: Hotels retooling employment policies as business slowly returns
Two viruses emerged in the U.S. this year – COVID-19 and society’s backlash against racism. The coronavirus pandemic forced hotels to close or drastically cut back on their workforces as occupancy plummeted to unprecedented lows. And America’s streets resounded with the voices of citizens protesting racism as businesses began to respond by promising new and better commitments toward diversity, inclusion and equality in hiring and promotion. In Episode 288 of Lodging Leaders podcast, we explore the issues hotels are facing in bringing back laid-off workers and recruiting new employees in the midst of a health pandemic that seems to have no end and society’s desperate call for Corporate America to get serious about ending systemic racism.
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CORONAVIRUS
September 23, 2020287 | The Long Haul: Extended-stay hotels show their strength in a crisis
Extended-stay hotels are weathering the coronavirus crisis better than their transient cousins, according to reports. The Highland Group’s half-year report shows economy and mid-priced extended-stay hotels are faring better than upscale extended-stay accommodations. Second-quarter earnings reports from companies such as Extended Stay America prove the resiliency of the sector, especially when sales teams shift their focus to new prospects such as college students, leisure travelers who value the kitchen and essential workers in it for the long haul. Long Live Lodging examines what gives extended-stay its muscle in a weak economy. This report is part of our ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
September 16, 2020286 | Care Packages: Hotels can attract business with cause marketing
The coronavirus pandemic has altered the wants, needs and desires of consumers. Buying habits have changed. The crisis has changed the way consumers value businesses. Hotels have an opportunity to succeed during and after the pandemic by adopting sales and marketing strategies that acknowledge the COVID-19 reality and embrace consumers with the warmth of heartfelt care. Long Live Lodging examines how the traditional sales tactics have been pushed aside as hotels reexamine the ultimate goal of hospitality during an uncertain and frightening time. This report is part of our ongoing coverage on the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
September 9, 2020285 | ‘Allure of the Door’: Exterior-corridor hotels trending in COVID-19 pandemic
Almost overnight, the roadside motel is a hot commodity. Travelers are going by car and when they stop they want the safest stay possible. The coronavirus pandemic has pushed health and safety to the top of hotel guests’ most-favored-amenity list and exterior-corridor properties appear to provide more of a risk-free stay than their interior-corridor cousins. Long Live Lodging examines the new shine travelers have put on exterior-corridor motels during the COVID-19 crisis and how brands heavy with motel-style properties are responding to the trend. 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
August 19, 2020Workers Yearn to Be Free of Fear, Uncertainty
Both human resource and mental health professionals are seeing increases in levels of worker anxiety and stress as employees in the customer-centric hospitality industry struggle to cope with an altered workplace in the age of COVID-19. So much has changed over the past six months, including expectations of owners, managers and guests. Long Live Lodging explores the impact the coronavirus crisis is having on workplace mental health and what resources are available to help employers and employees navigate the new emotional reality. 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
August 19, 2020282 | ‘People Have Changed’: Hospitality industry deals with workers’ mental health in the age of COVID-19
The coronavirus crisis has put unprecedented amounts of stress not only on health care systems and economies but on workers’ mental health. That’s the first and bottom line of a recent study by the Society of Human Resource Managers. The professional association surveyed more than a thousand workers in mid-April and found that nearly half read more
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CORONAVIRUS
August 12, 2020Private Equity Poised to Take Advantage of Hotel Business Distress
Hotel businesses struggling to stay afloat during the industry’s unprecedented downturn might be able to get a financial boost from private equity lenders awash in capital. But it’s borrower beware as some investors might turn out to be sharks eager to capitalize on an owner’s distress. Long Live Lodging explores how some investment funds are positioning themselves to help hotel owners emerge from the storm with their businesses and investments intact. Meantime, asset managers advise on how to prepare your business to qualify for financial aid that goes beyond conventional lending. This report is part of Long Live Lodging’s special coverage of the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
August 12, 2020281 | Rescue Capital: Hotel financiers seek opportunities to invest in distressed assets
In June, Watermark Lodging Trust, a Chicago REIT, sold its Hutton Hotel in Nashville for $70 million. The price is $7 million less than what the REIT said it paid to acquire and upgrade the hotel seven years ago. A month later, Watermark said it signed a deal in which it sold shares worth $200 read more
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CORONAVIRUS
August 5, 2020Business Interruption Lawsuits Spread With Virus
Hundreds of hotel owners have filed or are considering filing lawsuits against their property insurers to recover tens of millions of dollars in lost business revenue during the coronavirus pandemic. Long Live Lodging’s report features a hotel owner, lawyers and a researcher on risk and uncertainty and explores what’s happening with unsatisfied business interruption insurance claims and government legislative proposals seeking to resolve the problem. 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
August 5, 2020280 | Premium Letdown: Hotels challenge property insurers’ refusal to cover COVID-19 revenue loss
As the hospitality industry struggles to mitigate the massive loss of revenue caused by the coronavirus pandemic, hundreds of hotel owners are filing lawsuits to force their property insurance providers to cover their financial casualties. Meantime, state and federal lawmakers are considering legislation that would mandate U.S. insurance companies pay for business losses related to read more
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CORONAVIRUS
July 22, 2020‘Phenomenal’ number of hotels behind on CMBS loan payments
Thousands of hotels in the U.S. are financed through commercial mortgage backed securities or CMBS, a unique and complex loan structure that works well when the economy is healthy but has created a quagmire of challenges and uncertainty for hotel businesses fighting for their lives amid the economic downturn caused by the coronavirus pandemic. This multimedia report explores the current state of the CMBS loan market and recommendations on how the federal government can help rescue thousands of hotels in CMBS distress. It is the latest installment of Long Live Lodging’s special report on the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
July 22, 2020278 | CMBS Distress: Thousands of hotel owners seek relief from billions of dollars in debt
Since the beginning of March, the hotel industry has lost more than $40 billion in room revenue. Hotels continue to lose $400 million every day, according to STR and Tourism Economics. The historic loss of income caused by the coronavirus pandemic is rendering hotel owners unable to pay their property mortgages. While many have worked read more
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CORONAVIRUS
July 8, 2020Designing Hotels For Life
Hotel developers and designers are faced with unique challenges in the age of COVID-19. Ron Swidler, chief innovation officer at The Gettys Group in Chicago, said the company relaunched its Hotel of Tomorrow initiative to collaborate with experts worldwide to come up with short-term and long-term solutions in hotel design and technology to keep hospitality teams and guests safe and healthy in an environment that is literally life or death to many. The Gettys Group is among hospitality design firms addressing evolving demands by guests who want to feel comfortable and assured in an uncertain time. This report is part of Long Live Lodging’s special report on the coronavirus crisis and its impact on the hotel industry.
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CORONAVIRUS
July 8, 2020277 | Contagious Ideas: Hospitality brand and design experts search for creative solutions in the age of COVID-19
In the introduction of his book, “Hotel, an American History,” A.K. Sandoval-Strausz writes: “The hotel as we know it today did not evolve randomly or naturally, nor did it develop as some sort of automatic response to structural needs. Rather, it was the deliberate creation of an identifiable group of people who lived in a read more