Browsing by Author "McCracken, Sean"
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- 2020 Sets Record for Worst Performance by US HotelsMcCracken, Sean (Hotel News Now, 2021-01-20)The data analytics company STR states that 2020 was the worst year in the 30-year period that they have been analyzing performance data. Some locations like the island of Oahu saw a 53.7% drop in occupancy. The number of rooms in the pipeline has also been in decline since April 2020.
- Airbnb Surpasses 2019 Bookings, Revenue Figures in First QuarterMcCracken, Sean (Hotel News Now, 2021-05-14)•AIRBNB growth continues to outpace that of the broader travel industry. CFO Dave Stephenson said the company is already seeing the early signs of rebound for urban travel demand.
- Airbnb valuation would put it near top of lodging spaceMcCracken, Sean (Hotel News Now, 2020-12-01)In preparation for the IPO, Airbnb announced that they are expecting price shares at a maximum of $50, which values their company's market capitalization about $35 billion. This remarks the significant increase compared to a previous recent valuation of $18 billion and takes it second place in the publicly traded lodging industry.
- Attendee health a major focus for future eventsMcCracken, Sean (Hotel News Now, 2020-11-18)The health of general attendees has never been as important as it is today. Planners are attempting to work with medical experts on what will be the best practices once in person meetings resume. Currently, leaders are looking at China, to see the trends and behaviors of attendees at their large scale events. However, this provides an opening for virtual ticket/ attendance and emphasizes the impertinence of human connection.
- Harsh reality faces hotel companies in Q3McCracken, Sean; Wroten, Bryan (Hotel News Now, 2020-10-20)Earnings for hotels continue in a downward trend as Q3 comes to a close. Economy properties continue to weather the storm, while luxury properties face the brunt of the economic downturn.
- Hotel Executives Outline Labor Crunch Causes, ChangesMcCracken, Sean (Hotel News Now, 2021-05-13)As the hotel industry looks to emerge from the Covid-19 pandemic they are needing to rethink their operations model as the pool of available employees lags well behind the increasing demand. Many of the major hotel chain CEOs believe that this difficulty with finding employees will subside in September and October as this is the projected end date for some of the unemployment benefits that they say are causing the lack of interest in people returning to work.
- Hotel sales and marketing trends to watch in 2019McCracken, Sean (Hotel News Now, 2018-12-20)Experts speaking at the HSMAI sales and marketing roundtable shared the top trends in their discipline heading into the new year.
- IREFAC members hopeful industry will bounce back fasterMcCracken, Sean (Hotel News Now, 2020-11-13)The Industry Real Estate Financing Advisory Committee met virtually in leu of the virtual NYU Hotel Investment Conference to further discuss the state of the hotel industry heading into 2021. Kevin Jacobs, Hilton, noted that travel will only begin once COVID-19 in under control within the United States. Jacobs backed this statement up by noting Hilton's current recovery throughout their Chinese market. Experts remain hopeful for a full return in 2023.
- Is tech rewriting the hotel sales and marketing rules?McCracken, Sean (Hotel News Now, 2019-02-06)Several extremely impactful technologies are taking hold, and hoteliers need to adapt, according to experts.
- Major markets coping with major issuesMcCracken, Sean (2020-10-09)This article introduces multiple current issues that major markets of the hotel industry face. New York struggles with the new regulation to mandate new owners to keep existing employees for 90 days after the acquisition. And there are operational challenges for the industry - the mandatory quarantine for the visitors from high-risk states. Not to mention the decline in sales. Nevertheless, hoteliers in Las Vegas expect that the demand will rebound in the fall as many main properties have reopened. Globally, there is hope that the bailout from the government would In U.K, Singapore, and Israel.
- Personalization, Tight Budgets Dictate Hotel Tech in 2021 Lack of Funds Hamper Tech ImprovementsMcCracken, Sean (Hotel News Now, 2021-01-22)Hoteliers are finding it necessary to consider expenditures in the digital realm because of the coronavirus pandemic as the touchless mentality and more consumer control via smartphone applications become a driving force. Convention and conferencing enhancements are on the horizon allowing for diagramming technology being used to ensure social distancing.
- Supply outranks Airbnb on list of HAMA’s concernsMcCracken, Sean (HNN, 2019-04-16)Hotel asset managers are more worried about how a wave of new hotels will impact their properties than outside disruptors such as alternative accommodations or online travel agencies.