Issue 2579 - 23 November, 2020

    US heading for distress

    Over 70% of US hotels reckon they will not survive the next six months, without further federal assistance. Three quarters expect to lay off more staff, according to a survey by the American Hotel and Lodging Association. The survey found 82% of owners have been unable to obtain additional debt relief from lenders after the [...]

    Aussie improvement

    October saw bookings at Australian hotels reaching more than 60% of 2019 levels. Estimates from Colliers suggest a strong peak season as Australians are able to travel more easily, reports The Hotel Conversation. New supply has eased in many markets, due to delays in construction projects. In addition, many short term rental units have moved [...]

    M&C gains share

    Millennium & Copthorne saw global occupancies average 40% in September. The newly privatised group has maintained hotels open, and increased direct bookings in recent months. Costs have been reduced with a reduction in headcount of 36% year on year. The group is considering three offers for potential asset disposals. Read the full story here: Read more

Green fund launched

Thai investor Destination Capital has launched a green hotel fund, said to be a world first. The fund seeks to acquire hotels in prime locations, which will then be upgraded to EDGE standards. Destination says the move will enhance values, and encourage the hospitality sector in Thailand to adopt best practice. The fund is targeting [...]