Expect more mergers among hotel management companies until there are approximately 10 companies left in North America for the most competitive markets.
You can debate the degree to which cities will come back and the future grip of remote work, but it seems clear that video advertising will remain on a new perch for awhile.
Even if more Chinese cities follow the recent lead of Beijing and Shanghai in easing Covid restrictions, major hotel companies will still tread cautiously regarding future development in the country. Especially since widespread lockdowns could occur again if Covid cases surge.
Strong pricing power combined with buoyant U.S. and European markets are helping IHG Hotels & Resorts edge closer to a full recovery, a first-quarter trading update reveals. But colleagues in its Shanghai office have a different outlook in their region.
The hotel heavyweight expects its all-important group business to fully recover within a year. If Hilton decides to book one of its ballrooms to celebrate, it'll find rates higher than in 2019.
While the travel industry was on its knees, travel loyalty programs continued to grow. But the pandemic has changed the travel industry, and loyalty programs need to follow suit.
Blackstone wants to capitalize on the upside of a travel recovery in hotels, and its investment in Groups360 is a small step. The upshot is it helps Groups360 triple the number of hotels it works with.