5 things to know: 26 October 2020
5 things to know: 26 October 2020
26 OCTOBER 2020 9:32 AM

From the desks of the Hotel News Now editorial staff:

  • Stocks drop alongside hopes for stimulus package
  • Per-person spending steady for hotel weddings
  • Pitch competition held for potential female owners
  • Hotels continue to convert to homeless housing
  • New concepts released for Atari Hotels

Stocks drop alongside hopes for stimulus package: Wall Street investors are feeling pessimistic as the number of COVID-19 cases grows in the U.S. and Europe with no governmental stimulus in sight, The Wall Street Journal reports. Each of the major indexes were down roughly 1% in early trading.

“It’s a worrying picture for sure. You may have to account for the possibility that by midwinter, there might be circuit breakers implemented,” including stringent short-term shutdowns, David Stubbs, head of investment strategy at J.P. Morgan Private Bank, told the newspaper. “But we always knew this recovery would be stop-start: We won’t be truly moving into the main part of a new cycle until the health care issue itself is dealt with.”

Per-person spending steady for hotel weddings: The ongoing pandemic has necessitated changes to hotel-hosted weddings, but those changes aren’t proportionately shrinking either the wedding season or the amount people are spending on the events, HNN’s Danielle Hess reports.

“The couples that have ‘shrunk’ their special day due to gathering restrictions are still spending the same per person,” said Ryan Todd, director of sales and marketing at Canopy by Hilton Philadelphia Center City. “Of course, fewer total numbers of persons reduces the overall cost—but the price per person still remains healthy. The cost of floral is also likely reduced (with less space), but they are still bringing the typical centerpieces and additional florals.”

Pitch competition held for potential female owners: The Hilton McLean played host this weekend to an event called “She Has a Deal,” described by organizers as the first iteration of an annual pitch competition for women aspiring to be hotel owners, WDVM reports.

The winners this year were a group from Cornell University that pitched an adaptive re-use project in Detroit.

Organizer Tracy Prigmore said she wants to help close the gender gap in the industry.

“We don’t hold the top positions in the industry,” Prigmore said. “We want to have more women as hotel owners. We’re educating women and providing them with a support group of mentors and sponsors to help them on their journey.”

Hotels continue to convert to homeless housing: More hotels are converting, temporarily or permanently, to housing homeless people.

SFist reports the Hotel Diva in San Francisco’s Union Square will “transform into supportive housing for the city’s homeless” through California state government’s Project Roomkey.

The Delaware News Journal reports the New Castle County Council will consider buying the Sheraton Wilmington South in New Castle, Delaware to convert it into an “emergency homeless shelter,” as well.

New concepts released for Atari Hotels: GSD Group and Gensler have revealed new concept art for their upcoming Atari Hotels brand, video game news outlet IGN reports, describing the aesthetic as “something pulled out of a Cyberpunk-style future.”

Along with Atari Hotels set to open in Las Vegas and Phoenix, GSD Group is looking to expand to Austin, Chicago, Denver, San Francisco, San Jose and Seattle.

Compiled by Sean McCracken.

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