MGM laying off 18,000 workers is the latest testament that Las Vegas needs more than slot machines and poker tables to keep resorts running at pre-pandemic performance levels.
In normal times, giant global network airlines don't cancel many flights for low load factors. They don't want to annoy high-value passengers, and they might need the airplane or crew at the next destination anyways. But United is now watching every penny.
It is surprising that hotel awards are still being given out even when travel is in a lockdown. Some are meaningful and relevant, but mostly it's an industry that begs for a reinvention.
Another day, another rumor that Accor and IHG will combine forces. But even a successful merger is unlikely to send the hotel industry into a wave of consolidation due to so many other distressed deals expected during the pandemic recovery.
If there is one permanent legacy from the coronavirus pandemic’s grip on the hotel industry, it is likely the move toward technology features that reduce the amount of staff interaction. Google is the latest company to join the movement.
Hoteliers shouldn't get used to good news. U.S. full-service hotels may have seen a very slight average profit per room in July, but the peak summer travel season is fading — and the pandemic still isn't under control.
Despegar is playing the hand it's been dealt during the depths of the coronavirus crisis, and that means it will cut costs, ensure liquidity, and be on the prowl for opportunistic acquisitions to take market share.