Hospitality industry welcomes budget package

The UK hospitality industry has responded warmly to the confirmation of financial support in the government’s budget for this year. Yesterday (3 March), chancellor Rishi Sunak announced a £65bn support package for the economy as the country prepares to leave lockdown restrictions in April. Under the new budget, hospitality and leisure businesses will be able […]

Aloft Hotels opens new Birmingham property

Aloft Hotels, Marriott International’s hotel brand targeted for music and tech-savvy travellers has opened its first property in Birmingham with the opening of Aloft Birmingham Eastside. The site is located in Birmingham’s Eastside district, a new regenerated hub for the city which is home to businesses, retail, and leisure facilities, all just a short walk […]

World’s first space HOTEL to begin construction in low Earth orbit in 2025

Work is due to start on the world’s first ‘space hotel’ in low Earth orbit in 2025 – and it will come equipped with restaurants, a cinema, spa and rooms for 400 people. Developed by the Orbital Assembly Corporation (OAC), the Voyager Station could be operational as early as 2027, with the infrastructure built in […]

Hyatt Announces Global Expansion of Independent Collection Brands with New Hotel Openings and Developments Slated Through 2025

CHICAGO – Hyatt Hotels Corporation (NYSE: H) announced today the global growth of its independent collection brands, including recent openings and development plans through 2025 across The Unbound Collection by Hyatt, Destination by Hyatt and JdV by Hyatt brands. This growth reinforces Hyatt’s focus on continuing to immerse guests, members and customers into cultures and […]

What Drove Hotel Values to Decline in 2020? | By Joseph Pierce

The once-in-a-century pandemic has caused hoteliers to endure a firestorm that decimated the hotel and leisure industries. The growing COVID-19 cases across the U.S., as well as government restrictions on travel that further stress demand, continue to leave the hotel industry significantly behind pre-pandemic levels in terms of revenues, profitability and valuations. Gateway cities such […]

Trip.com Group sees out 2020 with revenues halved, domestic leads recovery

A challenging year” is how Trip.com Group has described its 2020, as the China-based travel giant reported annual revenues of $2.8 billion – down 49% on 2019. The company says the fourth quarter of 2020, when revenues were down 40% compared to the corresponding period in 2019, reflected a narrowing of the declines from a […]

Shape of the recovery

The UK government has announced a “roadmap” to reopen the economy, which will enable hospitality businesses to fully trade once more.   While welcomed, the news has been met with calls from several corners, to provide the sector with further support, to prevent further business failures over the coming months. A committee of members of parliament […]

Online giants jostle for position

The online accommodation platforms are plotting their return as the post-pandemic market picks up.   Consumer relevance was assured during 2020, for those majoring on home rentals, as travellers switched from hotels to private accommodation, for the additional reassurance of the isolation offered. For Airbnb, this led to a resurgence in business, after a weak start […]

Europeans look past lockdown

Europe-based hotel groups Accor, IHG, NH and Melia all declared substantial losses for 2020, with attempts to reduce overheads running behind dramatically reduced revenues.   IHG and Accor saw a greater geographical variability, with a greater impact from parts of their portfolios in Asia and the USA. For the Spanish-based groups, it has been about minimising […]

Group bookings on the rise

Group business has disappeared for all hotels during the pandemic. So the big question is how soon, and how strongly will conferences, conventions and company group meetings return?   Many countries still have operational restrictions on group gatherings, with Australia and New Zealand the leaders in allowing the resumption of events. But for the major hotel owners and […]