New forecast by Horwath HTL projects $75 billion loss in room revenue alone over the next 12 months.
Domestic business travel continues to trend toward recovery
PPE becomes the next ‘must have’ business travel accessory.
US tourism & leisure industry M&A dropped by over 95%
Total tourism & leisure industry M&A deals in Q2 2020 worth $387.67m were announced in the US, according to GlobalData’s deals database.
ETC calls for harmonised European approach to travel restrictions
High intention among Europeans to travel again; however, lack of coordinated response delaying sector’s recovery.
STR, TE slightly downgrade U.S. hotel forecast
Full recovery in U.S. hotel demand and room revenue remains unlikely until 2023 and 2024, respectively, according to the slightly downgraded STR and Tourism Economics forecast.
GBTA urges for enhanced transatlantic cooperation to restore safe travels
Harmonised health protocols and coordinated contact-tracing technologies can prevent further outbreaks.
40% of excess unemployment is in Leisure & Hospitality sector
Overall recovery will fail without a travel recovery and legislative action is urgently needed.
Latin America’s hotel construction pipeline shows continuing decline
Analysts at Lodging Econometrics state in the Q2’20 Latin America Hotel Construction Pipeline Trend Report, that the total construction pipeline is down 4% by projects and rooms, year-over-year.
STR and AirDNA release full analysis of hotels and short-term rentals
The hotel industry has made promising weekly gains in occupancy since its low point of the COVID-19 pandemic, while short-term rentals are nearing last year’s levels in revenue per available room.
Sri Lanka and Grenada received WTTC Safe Travels stamp for safety protocols
Popular holiday destinations Sri Lanka and Grenada, are among the latest destinations to begin using the world’s first ever global safety and hygiene stamp, launched recently by the World Travel & Tourism Council.
