Despite suffering the COVID-19 pandemic alongside the traditional hotel sector, the serviced apartment sector has been weathering the storm better owing to a few key factors that show a stronger resilience to a sudden and fundamental shift in demand. In this article, we examine recent innovations in the sector, give a performance update and explore the serviced apartment pipeline for Europe.
Hotels are complicated investments and evaluating the most suitable hotel operating model for a hotel investment is crucial to ensure that the owner’s return is optimized. This publication summarizes the evolution of a number key terms in the hotel management agreements and our outlook on how these key terms may evolve in the future, provides an overview of franchise agreements and highlights alternative agreements that are being considered by sophisticated owners in the Middle East region.
Nevada began its emergence from the COVID-19 pandemic shutdown on May 9, 2020, after Nevada’s Governor Steve Sisolak authorized certain businesses, including restaurants and retail establishments, to reopen with limitations. Nevada’s casinos were allowed to reopen on June 4, 2020, with restrictions. This article provides an update of the status of the Las Vegas market since Nevada’s casinos were allowed to reopen.
In the coming months, a true gem of a site in the heart of Hong Kong will be sold. Located in front of its iconic skyline, Site 3 measures 4.76 hectares between Jardine House (the one with the round windows) and the Star Ferry pier. We take a look at what could be accomplished here.
Tourism arrivals to Israel hit another record in 2019 growing to 4.5 million and resulting in improved hotel performance throughout. This article explores the hotel performance and development pipeline in Israel.
HVS has recently completed an anonymous short survey about the COVID-19 pandemic and its unprecedented impact on the South Korea hotel market. On a property level, the survey focuses on hoteliers' point of view on contingency measures, business strategies, signs of recovery indication, and comparison between pre-COVID-19 crisis and post-COVID 19 crisis.
Luang Prabang is located in north central Laos on a peninsula bounded by the Mekong River to the north and the Khan River to the east. Listed as a UNESCO World Heritage Site. Since 1995, Luang Prabang attracts tourists from international and regional markets through a combination of preserved cultural experiences and natural beauty within the province. The following article gives a brief overview of Luang Prabang, its tourism industry and recent dynamics of the local lodging market.
Drive-In Destinations refer to notable destinations located within a reasonable driving distance between two to six hours from Bangkok. This survey includes hotels from Chon Buri, Rayong, Prachuap Khiri Khan, Nakhon Ratchasima, Kanchanaburi, and Trat. The survey discusses COVID-19 pandemic and its unprecedented impact on the Drive-In Hotel Markets. On a property level, the survey focuses on hoteliers’ point of view on reopening strategies, domestic demand profile, and market outlook.
July 14, 2020
ByApichaya Wongsuwan ,Ruj Masan ,Pawinee Chaisiriroj
Governor Sisolak authorized certain businesses, including restaurants, barbershops, hair salons, and most retail businesses, to reopen with limitations beginning May 9, 2020, and Nevada began its emergence from the pandemic shutdown. Nevada’s casinos were allowed to reopen on June 4, 2020, with restrictions. While the pandemic is far from over, this article examines some of the differences observed in casinos in the Las Vegas market since reopening and what has been learned thus far.
The COVID-19 pandemic has placed at risk the substantial investment of state and local governments in the tourism and hospitality industries. Publicly funded destination marketing organizations (“DMOs”), tourism agencies, and convention centers face budget shortfalls, staffing reductions, and growing financial uncertainty. Targeted federal aid is urgently needed to support DMOs, tourism agencies, and convention centers whose work is critical to the recovery of vital sectors of the US economy.