Regenerative travel is the next frontier of tourism, colleges replace dorms with hotel rooms, and the industry remains in flux despite opening 1,000 new properties this year. All this and more in this week’s Five on Friday.
Is regenerative travel the next frontier of tourism?
While the tourism industry took a hit this year due to COVID-19, many are betting on a post-vaccine return to travel that will be “greener, smarter, and less crowded,” writes The New York Times. Regenerative travel—the more eco and socially aware sibling to sustainable travel—asks guests to leave a place better than they found it. “Sustainable tourism is sort of a low bar. At the end of the day, it’s just not making a mess of the place,” said Jonathon Day, an associate professor focused on sustainable tourism at Purdue University. “Regenerative tourism says, let’s make it better for future generations.” Booking agency Regenerative Travel currently leads the movement, counting 45 resorts as its members after an intensive vetting process that includes metrics such as carbon usage, employee wellbeing, immersive guest activities, and sourcing local food.
U.S. hotels offer housing solutions for college students
As college students head back to school across the country, university officials are attempting to adhere to social distancing guidelines by housing students in nearby hotels, CNN reports. Take Indiana University, where a handful of college students will be residing in the Graduate Bloomington. Here, students are able to reserve a room for 90 days at $98 a night that includes housekeeping and parking for an additional $5. “The first win is we get to support our university partners, and it also allows us to create a more normalized revenue stream to weather the storm we’re in,” says David Rochefort, president of Graduate Hotels, which operates 26 properties in college towns across the country. “And if you want to think about longterm impact, you can potentially convert these parents and students into lifelong customers. So, there’s a third win. We’re building a lot of brand loyalty.”
Nearly 1,000 new hotels have opened during COVID-19
Despite—well—everything 2020 has thrown at the hospitality industry, almost 1,000 new hotels have opened across the globe, according to Bloomberg. This is largely due to the millions of dollars it takes to open of a new hotel, which can take two-to-five years to develop. Delaying operations can be even more costly. “Even if it’s unsuccessful at launch, a completed project is a heck of a lot more valuable than an 80 percent completed one,” says Sean Hennessey, a hotel consultant and professor at NYU’s Jonathan M. Tisch Center of Hospitality. Indeed, Marriott opened 163 properties since the start of 2020, with Hilton opening 60 new hotels including nine new Canopy properties with the hopes to attract staycationers and road trippers alike.
MGM Resorts lays off 18,000 employees
It’s not all good news, sadly. At MGM Resorts International, 18,000 furloughed employees received separation letters informing them that their jobs were permanently cut due to the economic effects of the pandemic, reports CNBC. As with other hotel companies, occupancy rates haven’t recovered enough for MGM to welcome back furloughed employees. At the start of the year, the company employed 70,000 workers in the U.S. According to Axios, the hospitality industry remains in crisis mode with only 14 percent of U.S. hotels booked for Labor Day weekend, compared to 41 percent in 2019.
HD announces 2020 Hotelier and Designer of the Year honorees
This year, more than any other, it seems important to celebrate those who make our industry great. Our 2020 Hotelier and Designer of the Year honorees are breaking the mold with stellar portfolios that are forward-thinking, boundary-pushing, and immersive. Brian De Lowe, Brad Korzen, and Alex Samek, founder of Proper Hospitality, have been named our Hoteliers of the Year for their eclectic and refined properties in San Francisco, Austin, and Santa Monica. Our Designer of the Year honor goes to the the London- and Hong Kong-based Joyce Wang, who is the mastermind behind numerous restaurants as well as the spa and wellness component at Equinox Hudson Yards in New York and the Equinox, St. James in London. Winners and finalists will be celebrated during a virtual ceremony on October 22nd.
