This Week in Hospitality Marketing Live Show 239 March 6th 2020
This Week in Hospitality Marketing Live Show 239
[smartvideo src=”https://youtu.be/VS0oRmIGXoA” width=”1280″ height=”720″ responsive=true controls=true]
CoHosts
Kat Mohammed
Tim Peter
Robert Cole
Show Notes
00:02 — Roberts review of diminished RevPar
00:07 — Does your property have a coronavirus strategy?
02:28 — Show ends
Topics
STR has reported 2020 weekly US hotel industry performance through the ninth week ending February 29, so we’ll use that as the marker.
[NOTE: By looking at weekly performance, one can largely eliminate the impact of day of week shifts and leap years,as opposed to looking at months.]
Here’s how things stacked up over the last three years:
|
Week 9
|
YOY Growth Rate
|
||
|
52 Wk Mov. Avg.
|
Occ %
|
ADR
|
RevPAR
|
|
2020
|
-0.29%
|
1.08%
|
0.74%
|
|
2019
|
0.20%
|
2.19%
|
2.43%
|
|
2018
|
0.79%
|
2.32%
|
3.08%
|
Three take-aways:
-
In short, the US hotel industry occupancy percentage growth rate has dropped 50 basis points in each of the past two years.
-
Average daily rate growth has also been cut in half since last year.
-
Unfortunately that combination produces a pathetic 0.74% growth rate in revenue per available room.
Bottom line, the industry isn’t growing, eliminating any cushion for any looming demand displacement.
So with global market volatility imitating a roller-coaster, group events and corporate travel under intense scrutiny, and new COVID-19 cases popping up across the nation…
Top Story
1. LIVE BLOG: Impact of coronavirus on the travel industry
[Ongoing Updates – a good link to save]
Brands & Product
2. Does your property have a coronavirus strategy?
3. Aman Expands in New Direction With Launch of Community-Focused Luxury Brand
4. Tiny rooms make big dent on New York’s hotel market
Intermediaries & Distribution
5. Airbnb, Expedia and Others Agree to Landmark Data-Sharing Deal With European Union
6. How Expedia Solved a $100 Million Customer Service Nightmare
7. 5 Reasons Why You Need A Travel Agent – More Than Ever
Marketing & Strategy
8. Data insights into effectiveness of downturn strategies
9. Hotels Strive to Get Savvier About Forecasting Total Revenue
10. The AIDA Model: Introduction to Attention, Interest, Desire, and Action
Tech & Finance
11. Coronavirus Slams U.S. Hotel Industry’s Global Operations
12. Series A Guide
13. 2020 AI 100 highlights
Boop!
14. A bipartisan Buttigieg effect? The people of this gorgeous island country say yes
Ruh-Roh…
15. Ryugyong Hotel: The story of North Korea’s ‘Hotel of Doom’
How Bad Is the Coronavirus? Let’s Run the Numbers