Amidst the hubbub around the midterm elections and continued whispers around recession fears, American travelers quietly passed a milestone in the COVID-19 pandemic in the most recent The State of the American Traveler study, fielded from October 15-22, 2022.
Partner Insights spoke with Michael Kosmas, a partner at Stroock & Stroock & Lavan LLP and head of its global hospitality and leisure practice, for insight on where the sector stands today, and how the pandemic has affected hotel management agreements.
The report shows that operating costs have increased to challenging levels at 55.2% of turnover before rent – the highest since 2007. This has been driven by the soaring utility, premise and operational costs facing operators in the industry, as operators attempt to rebuild following the pandemic.
The relationship between the hotel brands and their franchisees was favorable and constructive in 2020. Both recognized that the impact of COVID was largely out of their control, and the best chances for both entities to survive relied on cooperation.
According to a live poll conducted by GlobalData, a data and analytics company, 57% of respondents are 'not concerned' or are 'not very concerned' about the spread of COVID-19, suggesting that tourists are more prepared to live with COVID-19.
Tourism leaders from across Asia and the Pacific have placed building resilience and embracing innovation at the heart of the sector’s restart and sustainable future.
The British React With Enthusiasm – More Than Half Surveyed Say They Are More Likely to Book a Trip to the U.S.
A senior administration official has told journalists that the entry rules could be dropped as soon as Sunday with the Centers for Disease Control and Prevention (CDC) saying testing is no longer necessary.
A bipartisan group of mayors appeal to Biden administration to remove Covid-era inbound testing requirement
The U.S. travel landscape is approaching a more level, balanced field than it has in the years since the start of the COVID-19 pandemic, and hoteliers are determined to keep industry performance on a steady track, despite obstacles in the form of inflation and a possible economic recession.