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Saturday 21 November, 2020

TODAY'S TOP STORY

50 per cent of US hotels could close without further relief

US: A survey of American Hotel & Lodging Association (AHLA) members shows that 71 per cent of hoteliers won’t survive the next six months, given current and projected travel demand, without further federal assistance.

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EDITOR'S COMMENT

 

21/11/2020

 

• Being based in the UK I do my best to keep up to date with what's happening across the pond, and news this week that around 50 per cent of US hotels fear closure without additional federal help is startling. The survey, commissioned by the American Hotel & Lodging Association (AHLA), coincides with a recent story I ran that the vast majority of Americans are unlikely to travel this holiday season. 

 

Of critical note is that one-third (34 per cent) of the 1,200 hotel owners and operators surveyed said that they can only last between one to three months under the current projected revenue and occupancy levels. Only a few weeks ago the Federal Reserve lowered the bar for smaller businesses to access the Main Street Lending Programme, dropping the minimum loan size from $250k to $100k. Whether these smaller businesses wish to take on additional debt is another dilemma, however AHLA's survey findings suggests it could be necessary for survival. 

 

Whilst Joe Biden's election was largely applauded by hospitality leaders, there's also the growing sentiment that the current Trump administration needs to act now, before the new congress is sworn in. The US is a key driver to the global recovery of travel and hospitality, and the political stalemate following Trump's refusal to concede is delaying any real effort to support those industries in need. The role of trade associations will be pivotal in pressing for that much-needed legislation in the months to come.

 

• On Wednesday December 2nd at 14:00 GMT, I'll be hosting my 2021 predictions for travel trends that will shape boutique, lifestyle and luxury hotels next year. In this 45 minute interactive session I'll take you through my six key trends, where I'll be joined by three trailblazing individuals to talk us through their thoughts and experiences.

 

Joining me in conversation will be:

• David Abraham, CEO, Outpost

• Lauren Chatterton, GM, Oddfellows Chester

• Will Lucas, CEO, Mint House

 

Register for the session here. I look forward to seeing you all there! 

 

• During the week commencing 1 March 2021, we're hosting Urban Living Festival Lite - a series of small events held across some of the best hotels and venues that are open in London. Tickets are available to purchase, and we'll be digitising the experience for those unable to attend. Check out the full agenda here, and be sure to book before spaces fill up!

 

If you are interested in contributing to any of the webinars, please drop me a line on the email below my signature.

 

Eloise Hanson, news editor
eloise@internationalhospitality.media

For more information and sponsorship/advertising opportunities please get in touch.

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