5 things to know: 19 November 2020
5 things to know: 19 November 2020
19 NOVEMBER 2020 10:46 AM

From the desks of the Hotel News Now editorial staff:

  • Experts discuss costs, recovery and 2021 forecasts
  • Weekly hotel results for the US, Canada
  • Quarantine hotels in Norway
  • Framingham Sheraton hotel going to auction
  • A look at rooms in Disney’s Star Wars hotel

Experts discuss costs, recovery and 2021 forecasts: Data experts speaking on a panel during the recent 42nd Annual NYU International Hospitality Industry Investment Conference webinar series said food-and-beverage revenue is among the steepest revenue declines because of the coronavirus pandemic, HNN’s Danielle Hess writes.

Another challenge for owners right now is the significant rise in insurance costs in the industry, said Stephen Rushmore, Jr., president and CEO, New York, at HVS.

Panelists also shared revised 2020 forecasts as well as their predictions for 2021. Amanda Hite, president of STR, HNN’s parent company, said some essential meetings and small- to medium-sized events are expected to be on the books in the second quarter of 2021.

STR is forecasting 52.2% occupancy for full-year 2021, which Hite said is better than where the industry will end 2020 at an expected 42.2%.

Weekly hotel results for the U.S., Canada: Hotels in the U.S. and Canada reported year-over-year decreases in the three key performance metrics for the week ending 14 November, according to data from STR.

The U.S. hotel industry saw occupancy decline 32.7% to 43.2%, average daily rate decreased 28.6% to $90.58 and revenue per available room decreased 52% to $39.11.

Canadian hotels reported a 53.5% drop in occupancy to 27.8%, a 25.9% decline in ADR to 110.36 Canadian dollars ($84.25) and a 65.5% drop in RevPAR to CA$30.70 ($23.44).

Quarantine hotels in Norway: Norway has tightened its COVID-19 restrictions to require non-residents to show a negative COVID-19 test taken within 72 hours before their arrival, and those coming in from “red” countries have to stay in designated quarantine hotels during the quarantine period, Forbes reports.

Those staying in a quarantine hotel must pay a fee subsidized by the government.

“Individuals will pay 500 Norwegian Kroner ($55) per night, while employers will pay 1,500 Norwegian Kroner ($165) per night for an employee arriving in the country. All remaining costs will be covered by the local municipality, which will ultimately be funded by the government,” the news outlet writes.

Framingham Sheraton hotel going to auction: The 376-room medieval-style Framingham Sheraton hotel in Framingham, Massachusetts, will be up for auction on 15 December, Patch.com writes.

Property records show the hotel was most recently bought for $27.2 million in 2011 and has an assessed value of $33.1 million.

The hotel was built in the early 1970s and underwent a major renovation in 2014.

A look at rooms in Disney’s Star Wars hotel: Disney recently provided renderings of the rooms in its new Star Wars hotel designed to look like a ship, the Halcyon, Delish reports. 

Similar to Disney’s cruise line, those staying at the hotel will check in as a group through a terminal and then take a launch pod to board the ship.

Rooms feature an orange and cream design and a view of what looks like outer space.

Compiled by Danielle Hess.

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