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Thursday 21 May, 2020
TOP STORY
Brands may lose 20 per cent of cumulative value
Leisure and tourism brands, including Airbnb, are predicted to lose up to 20 per cent of their cumulative brand value, according to the Brand Finance Leisure & Tourism 10 2020 ranking.
If you missed our last newsletter....check out the stories below:
1. France proposes to build its own OTA
2. Hernandez subject to second lawsuit in two months
3. Zeus Living cuts half of its remaining staff
4. Airbnb appoints Bunch as global head of operations
Editor's comment
21•05•20 Welcome to the latest ShortTermRentalz newsletter!
• Independent branded business valuation consultancy Brand Finance has released its Brand Finance Leisure & Tourism 10 2020 ranking and Hotels 50 2020 report, in which it suggests leisure and tourism brands, including Airbnb, could lose up to 20 per cent of their cumulative brand value due to the impact of the Covid-19 pandemic on the global travel industry.
However, as countries around Europe in particular begin to announce plans to ease restrictions on travel, Brand Finance's ranking paints an optimistic outlook for Airbnb post-pandemic: “Despite its business operations grinding to a halt, Airbnb is in a relatively good position to recover from the crisis as the economy slowly re-opens, likely to be favoured by holiday-goers looking for “staycation” options in their own countries.”
The ranking also names Airbnb as the most valuable brand in the leisure and tourism space with a brand value of US$10.5 billion.
While these are only predictions in the meantime, the damage that the coronavirus inflicts on businesses will likely only become clear in the coming months and years ahead as they look to evolve in a wounded marketplace. Hotels are in a similar bracket with cumulative brand value expected to drop significantly so brands will be under pressure to continue delivering the unique experiences they promise but at the same time, maintain more lean and efficient operations.
• Yesterday's first webinar in our Urban Living series ahead of URBAN LIVING FESTIVAL 2020: stay-live-work on 25-26 November at Tobacco Dock London, led by IHM editor-in-chief George Sell, proved a big hit with more than 300 people registering to listen in to how hospitality and real estate asset classes address changing attitudes to social distancing when designing and operating new projects.
You can register here for the second session on Wednesday 3 June at 14:00 BST, which addresses "The future of work: offices, coworking and business travel". Joining George will be Giles Fuchs of Office Space in Town, Fidelity International's Carol Fergus, Nuveen's Jack Sibley and Sean Worker of T5 Strategies.
• In other content, Sean Worker looked ahead to how business leaders can "successfully negotiate the imminent descent towards the new reality" in a second piece for ShortTermRentalz as the travel and hospitality industries begin to plot their recovery.
If you have a story you want us to tell the industry, please click here and get involved with the community by joining our ShortTermRentalz LinkedIn group here.
Paul Stevens, news editor
paul@internationalhospitality.media
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