Innovation

Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 29 March through 4 April 2020, according to data from STR. In comparison with the week of 31 March through 6 April 2019, the industry …

Sabre Corporation has issued the following statement regarding the US District Court’s decision in the Sabre/Farelogix acquisition case: “This federal court ruling supports our view that the Sabre-Farelogix acquisition is not anti-competitive. We appreciate the consideration the court gave to these important issues,” said Kristin Hays, vice president of global …

With the COVID-19 pandemic in full swing, can the government take private hotel rooms to expand the capacity to care for individuals with or exposed to the virus? Governmental entities at every level are taking unprecedented steps to fight the COVID-19 pandemic as they work to slow transmission of the …

e-forecasting.com’s economic Leading Analytic, eLA™, a composite of seven forward-looking predictive analytics, fell 4.2 percent in March, following an increase of 0.1 percent in February.  Only two of the seven components – individually modeled by data science techniques – had a positive contribution to the aggregate barometer. Combined with current …

Social distancing may be good for the country, but it is having a major impact on the hotel industry. With STR reporting occupancy down an average of 50 percent nationally operators are refocusing priorities and revising forecasts. This is new territory. Hotel companies and properties are stepping up to create …

Dallas-based Prism Hotels & Resorts, a full-service hotel management, investment and advisory services company, is retaining 100 percent of its corporate team during the COVID-19 pandemic, according to President/CEO Steve Van. The decision stems from the company’s long-standing commitment to delivering results and maintaining excellence in any economic climate. Prism …

Hotel Internet Services, a full-service provider of internet services and solutions for the hospitality industry, has announced the successful implementation of a cutting-edge guest Wi-Fi network at Hotel Caza in San Francisco’s Fisherman’s Wharf. As a new construction project, Hotel Caza required the installation of all network components necessary to …

WorkJam, a digital workplace solutions provider for organizations with front-line employees, announced the close of an oversubscribed $50 million USD Series C round led by Canadian venture capital firm Inovia Capital, with participation from Fonds de Solidarité FTQ and Claridge. All existing investors also participated in the round, including Lerer Hippeau, Blumberg Capital, …

The International Air Transport Association (IATA) announced global passenger traffic data for February 2020 showing that demand (measured in total revenue passenger kilometers or RPKs) fell 14.1% compared to February 2019. This was the steepest decline in traffic since 9.11 and reflected collapsing domestic travel in China and sharply falling …

For the right owner or developer, capital is still strong in the United States real estate market, according to experts. However, lenders are beginning to tighten requirements for equity, sponsorship and brand types, which means they are getting pickier. With so many deals chasing money, the current landscape is causing …