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Hospitality | Tourism
NEIL P. AMIN CEO, SHAMIN HOTELS, RICHMOND Like other hoteliers, Shamin Hotels has been hit by the near evaporation of business travel. Amin is CEO of the company, which owns some five dozen properties and is the largest hotel operator in the Richmond region. Amin graduated The Wharton School at the University of Pennsylvania, where […]
Va. hotel revenue inching upward
Hotel revenues in Virginia continued to incrementally improve last week, according to new data from STR Inc., a division of CoStar Group providing market data on the U.S. hospitality industry. During the week of Aug. 9 through Aug. 15, hotel revenues in Virginia decreased by 44% and rooms sold declined by 32%, compared to the […]
U.S. hotel industry faces foreclosure wave
The U.S. hotel industry is facing an historic wave of foreclosures due to the pandemic, according to findings released Tuesday from the American Hotel & Lodging Association (AHLA), but Virginia might be an exception — for now. “We are not seeing much in the way of foreclosures or defaults as of yet,” says Virginia Restaurant, […]
Va. hotel revenues improved only 1% last week
Hotel revenues in Virginia improved by only 1% last week and still remain at a 45% decrease compared to the same week last year, according to new data from STR Inc., a division of CoStar Group providing market data on the U.S. hospitality industry. The week before last, STR reported a 46% decrease in Virginia […]
Va. hotel revenues slowly improving
Hotel revenues in Virginia slightly improved last week, but still remain at a 46% decrease compared to the same week last year, according to new data from STR Inc., a division of CoStar Group providing market data on the U.S. hospitality industry. The week before last, STR had reported a 50% decrease in hotel revenues […]
Va. hotel revenues dropped by 50% last week
Hotel revenues last week continued to decrease by 50%, compared with the same week last year, according to new data from STR Inc., a division of CoStar Group providing market data on the U.S. hospitality industry. Last week, STR had reported that the U.S. hospitality industry had marked its worst quarter yet. Nationally, however, the […]
Va. hotel revenue declines worsen
Hotel revenue declines have worsened during the past week, despite the state operating under Phase Three of Gov. Ralph Northam’s “Forward Virginia” plan, which has loosened some gathering and hospitality restrictions. Hotel revenues and rooms sold declined in every major market in Virginia, compared with the same time frame last year, according to new data […]
Va. hotel revenues still down by more than 60%
Even as Phase Three of Virginia’s reopening plan looms on the horizon, Virginia hotels are continuing to see revenues dropping. in the second week in June by 64% compared to the same time a year ago, according to findings released Thursday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. Rooms sold were […]
Hilton lays off 2.1K employees, extends furloughs
As hotels continue to struggle during the COVID-19 pandemic, McLean-based Hilton Worldwide Holdings Inc. announced Tuesday it is laying off 2,100 corporate employees — more than 20% of its corporate workforce. The company is also extending furloughs, reduced hours and corporate pay reductions, which were first announced in March, for up to an extra 90 […]
Hotels saw 68% revenue drop in early June compared to 2019
Although the state has loosened some restrictions since entering Phase Two last Friday, Virginia hotels continued to see revenues drop in the first week in June by 68% compared to the same time a year ago, according to findings released Wednesday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. Rooms sold were […]
Hotels saw 66% revenue drop in late May compared to 2019
Suffering the economic impacts of the coronavirus pandemic, Virginia hotels saw revenues drop 66% for the last week in May compared to the same time a year ago, according to findings released Wednesday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. Rooms sold were also down by 50% and the average daily […]
Sorry, we’re CLOSED
“April is the cruelest month,” T.S. Eliot wrote, but for the hospitality and tourism industries, the cruelty began in March. With conferences and conventions canceling reservations amid the pandemic, hotels and convention centers across the commonwealth have temporarily shut down operations, furloughing and laying off workers. By late March, Virginia lost more than 23,000 hotel […]
