Virginia hotel revenues continue at a steady decline compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry.
For the week of Oct. 11 through Oct. 17, hotel revenues in Virginia decreased by 50% and rooms sold declined by 31%, compared with the same week last year. Compared with last year, the average daily rate (ADR) paid for hotel rooms dropped 27% to $87.75, while revenue per available room (RevPAR) fell to $44.39, a 49% decline.
“Hotels throughout the commonwealth continue to struggle,” says Eric Terry, president of the Virginia Restaurant, Lodging and Travel Association. “Most have now permanently laid off staff with a recovery a long way off and little relief coming from government.”
Hotel revenues and rooms sold declined in most markets in Virginia, compared with the same time frame last year. Compared with the same week in 2019, revenues fell 70% in Northern Virginia, 37% in Charlottesville and 28% in Hampton Roads. During the week of Oct. 4 through Oct. 10, revenues fell 65% in Northern Virginia, 35% in Charlottesville and 25% in Hampton Roads. The number of rooms sold in Northern Virginia is down by 51%, Charlottesville is down by 15% and Hampton Roads is down by 18%.
Despite continued drops in revenue, Hampton Roads continued to fare well compared to national rates. Reaching 53.7% for the most recent week, the region has had the highest occupancy rate among the top 25 markets in the nation since the week ending June 27.
Williamsburg continues to be the hardest-hit locality in Hampton Roads, though, seeing a 54% decline in revenue last week, followed by Norfolk/Portsmouth with a 29% decline and Newport News/Hampton at a 28% decline.
“Performance of the hotels in the commonwealth during this week was in general slightly worse than last week,” Professor Vinod Agarwal of Old Dominion University’s Dragas Center for Economic Analysis and Policy said in a statement. “COVID-19 continues to have adverse impacts on this industry.”
Virginia Commonwealth University received a record $335 million in sponsored funding for research during fiscal year 2020 — an 8% increase from 2019, the university announced Wednesday.
“VCU‘s ongoing commitment to its faculty, interdisciplinary research and investment in research infrastructure have translated into these record levels — which have grown by a third — over the past decade,” VCU President Michael Rao said in a statement. “I applaud our community of scholars, whose groundbreaking research has a tremendous positive impact on the human experience.”
Researchers at VCU’s Monroe Park and MCV campuses saw funding growth this year from federal, state, industry and private funding agencies, P. Srirama Rao, VCU’s vice president for research and innovation said in a statement.
“Fiscal year 2020 translated into an outstanding year of accomplishments for VCU’s research community and our faculty and researchers are to be congratulated and recognized for their efforts,” Vice President Rao said in a statement. “Despite the many disruptions caused by the pandemic, they pressed forward with their research focused on VCU’s strategic initiatives of enriching our lives, achieving a just and equitable society, optimizing health and supporting sustainable energy and environments.”
The university received $169 million in total extramural federal funding, up 6% from last year, which includes nearly $92 million from the National Institutes of Health. VCU also saw increases in funding from the National Science Foundation, and the Departments of Education, Justice and Defense. Industry contributions rose by 26% to more than $37 million, which allowed for the university to begin clinical trials for COVID-19 therapies, such as remdesivir. The drug therapy was authorized by the FDA for emergency use on severe virus patients May 1, after 5-day and 10-day regimens proved successful at VCU and other hospitals.
VCU ranks as a top 100 research university based on research expenditures for nine consecutive years from the National Science Foundation. The university will also soon release an updated VCU Strategic Research Priorities Plan, which will outline growth planning for research at the university.
“In the coming weeks, we will share details about the proposal, developed by more than 90 faculty members, to implement our bold and ambitious plan,” Vice President Rao said in a statement. “This will serve as a framework to streamline investments leading to increased funding and growth, ultimately advancing excellence in research at VCU.”
Reston-based AceInfo Solutions LLC announced Tuesday it had been awarded a potential five-year, $135 million task order from the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP).
Under the task order, AceInfo (a subsidiary of McLean-based Dovel Technologies) will provide services to support the development, maintenance and modernization of NFIP’s web-based PIVOT system, which houses NFIP’s core business processes, including insurance policy validation, claims and data.
“AceInfo is excited to leverage our proven agile solutions development expertise to support this mission-critical program,” AceInfo COO Mike Cosgrave said in a statement. “We greatly value our strong relationship with FEMA and are committed to supporting the PIVOT transformation.”
This task order also includes other services such as product development and enhancement as well as data analytics.
“Our team, through AceInfo, offers a combination of deep domain experience and advanced technologies to meet FEMA NFIP’s modernization goals,” Dovel CEO Damon Griggs said in a statement. “We are excited to support this new contract and further FEMA’s mission of helping people before, during and after disasters.”
Founded in 2000, AceInfo provides application, cloud, cybersecurity and IT infrastructure services.
The six-month filing extension deadline for individual income taxes in Virginia is Monday, Nov. 2, Virginia Tax reminded taxpayers Wednesday.
“Last year, more than 488,000 taxpayers took advantage of the automatic, six-month filing extension in Virginia, and the majority of those returns came in electronically,” Virginia Tax Commissioner Craig M. Burns said in a statement. “Because of COVID-19, we encourage taxpayers to file electronically this year too and to request a refund, if you have one coming, via direct deposit.”
Taxpayers whose 2019 income was $69,000 or less are likely eligible to file electronically for free, according to Virginia Tax.
Standard deductions have increased to $4,500 for individual filers and $9,000 for married couples filing jointly.
Virginia Tax also reminds taxpayers that there are multiple options for making payments including online payments as well as checks and money orders.
Taxpayers can visit Virginia Tax to track their refunds or contact the Virginia Tax Customer Service hotline at (804) 367-8031.
Alexandria-based defense contractor VSE Corp., a provider of distribution and maintenance, repair and overhaul services focused on transportation assets, announced last week it has named Stephen D. Griffin as senior vice president and chief financial officer, effective Nov. 9.
Griffin will succeed Thomas Loftus, who is retiring and will remain at the company until Dec. 31 through the leadership transition. Griffin will report directly to VSE President and CEO John Cuomo and will oversee the company’s finance, accounting, financial planning and analysis, internal audit, tax and treasury functions.
With more than a decade in senior finance leadership roles with General Electric Co. (GE), Griffin most recently served as CFO of engine services with GE Aviation, where he oversaw the finances for a $15 billion sales division.
“Steve is a strategic, operationally minded financial executive with a proven ability to build, develop and lead high-performing teams,” Cuomo said in a statement. “He brings to VSE a depth of experience managing sophisticated, multibillion-dollar financial organizations operating within dynamic global market environments, including those within the aerospace and industrials sector.”
Founded in 1959, VSE provides services to the Department of Defense including work on military vehicles, ships and aircraft, along with technology and engineering services.
An anonymous donor has made a $1 million gift to the Virginia Commonwealth University College of Engineering to provide funds for programming and support for international students, VCU announced Tuesday.
Part of the gift will establish a global education and international student support fund (to be administered through VCU’s Global Education Office) and additional funding will go toward English language instruction programs, trip subsidies, tutoring, mentorship and financial aid.
“A gift like this is something that you dream about, so we want to be very thoughtful about how we use it,” Jill Blondin, executive director of the Global Education Office, said in a statement.
The VCU College of Engineering currently has 2,064 enrolled students, 149 of whom are international students, says VCU spokesperson Rebecca Jones. International students will also have input into other options for using the funding.
“These students have chosen — bravely — to come to another country to study,” Blondin said in a statement. “They are away from home, from family. What we see are needs for engagement and personal support. We want to help them participate fully in life at VCU.”
Another portion of the anonymous donor’s gift will establish the VCU College of Engineering Dean’s Excellence Fund for International Students, which may support activities such as a new student organization and 2021 celebrations of Thanksgiving and International Engineering Day.
“International students provide an important global perspective, whether they are undergraduates, pursuing graduate degrees or serving as postdoctoral fellows,” Barbara D. Boyan, the Alice T. and William H. Goodwin Jr. dean of VCU Engineering, said in a statement. “This gift makes it possible for us to help them find a home in the College of Engineering so that their contribution to the research and teaching mission of VCU can be realized.”
The anonymous donation will also support engineering professor Daren Chen’s mechanical and nuclear engineering research, according to a university statement.
After recovering a total of 68,000 jobs in August, Virginia saw its labor force fall by 71,954, or 1.7%, in September, according to employment statistics released Tuesday by the Virginia Employment Commission. Between September 2019 and September 2020, the VEC estimates that Virginia has lost 207,100 jobs a 5.1% decrease.
The commonwealth also saw a slight increase in its adjusted unemployment rate by 0.1% in September to 6.2%, which is 3.5 percentage points higher than the rate from the same time period last year. The unemployment rate, however, continues to be below the national rate, which fell to 7.9%, according to the VEC.
The largest monthly job gains during September were in leisure and hospitality and business services, which both added 5,400 jobs. Other sectors that saw increases included trade and transportation (adding 3,500 jobs), manufacturing (adding 2,700 jobs) and finance (adding 1,600 jobs), among other industries.
Government employment was the only major industry sector that reported jobs lost. The industry reported a job loss of 10,300 in local government jobs, but the state government also lost 2,000 jobs. The federal government added 700 jobs in the commonwealth during September.
Despite some job recovery, 10 out of the 11 major industry divisions in Virginia reported declines compared to last year. Leisure and hospitality was down by 76,400 jobs, compared to September 2019, while education and health sciences were down by 38,500 jobs. Government, professional and business services, manufacturing, finance and trade also reported major losses. Construction is the only industry that has up by 3,800 jobs compared to the same period in 2019.
Regionally, the largest job increases during September happened in Northern Virginia, which added 8,100 jobs during September. The Richmond, Eastern Virginia, Roanoke and Winchester regions also reported job gains, while job losses were reported in the Charlottesville, Harrisonburg, Staunton and Waynesboro areas.
Smithfield Foods Inc., the world’s largest pork processor and hog producer, announced Monday that President and CEO Kenneth M. Sullivan will retire in early 2021 after nearly 20 years with the company.
Chief Operating Officer Dennis Organ will succeed Sullivan as president and CEO following his retirement. Organ joined the company in 2010 and for the past two years has overseen the day-to-day operations of more than 40,000 employees across 32 states, according to a company statement.
“It has been a great honor and privilege to lead Smithfield for the past five years,” Sullivan said in a statement. “As a leading global food and agriculture company, we have an incredibly important role to play in society. It is an obligation we have proudly embraced over our more than 80-year history. We have persevered through an extraordinary time in 2020. Together, we have met unprecedented challenges head-on.”
Sullivan joined the company in 2003 as vice president of internal audit and became chief accounting officer in 2007. Three years later, he became vice president of finance and chief financial officer in 2013. In 2015, he became president and chief operating officer, and the following January he became CEO.
His retirement announcement comes amid scrutiny of the company’s efforts to protect processing plant workers during the pandemic. In mid-September, the company announced it intended to contest a citation from the U.S. Labor Department stating that Smithfield failed to protect workers during an April outbreak at its Sioux Falls, South Dakota, plant, where approximately 1,300 workers contracted COVID-19 and four employees died.
The Labor Department’s Occupational Safety and Health Administration (OSHA) proposed fining Smithfield the maximum amount under the law, $13,494, for “failing to provide a workplace free from recognized hazards that can cause death or serious harm.” Smithfield Foods temporarily closed the South Dakota plant in April after cases surged among employees, which the company says was due to a spike in local cases. According to a company statement, however, Smithfield has spent more than $600 million in COVID-19-related costs this year.
During his five years at the helm, Sullivan led “One Smithfield,” an initiative to unify the company’s operations, brands and more than 55,000 employees under one corporate umbrella, and saw the highest profit periods in the company’s 88-year history. His tenure also brought a joint venture between Smithfield and Dominion Energy Inc., Align Renewable Natural Gas (RNG), to use methane emissions on clusters of Smithfield-owned and-contracted hog farms and convert the emissions into clean energy.
“I have spent that time working with a spectacularly talented, dedicated and committed team,” Sullivan said in a statement. “The strength, resolve and guts I have witnessed in our Smithfield Family during those twenty years, and particularly this year, will stay with me forever, as will the losses we have endured. Your heroism kept this country fed. Never forget that.”
Smithfield Foods in 2013 was bought by China-based WH Group for $7.1 billion.
“Ken has provided outstanding leadership to Smithfield over the last five years. We are extremely grateful for his many contributions to WH Group throughout his tenure and wish him well in his retirement,” Wan Long, WH Group executive director, chairman and CEO, said in a statement. “Looking forward, Dennis’ experience as chief operating officer will prove invaluable as he leads Smithfield forward. We believe he is the ideal person to continue to optimize Smithfield’s unique assets for the benefit of all our stakeholders. We believe Smithfield’s best days are yet to come.”
Telework could be here to stay, according to findings from a survey of top federal government executives released Tuesday by Reston-based Fortune 500 defense contractor Science Applications International Corp. (SAIC).
A majority of the 300 respondents surveyed by Market Connections said they expect the technology changes put in place at their federal agencies in response to COVID-19 to become a permanent way of conducting business post-pandemic. The survey included respondents from a variety of federal agencies, including public health agencies, the Department of Veterans Affairs, the Treasury Department and the General Services Administration.
Although commute-free days in Northern Virginia could become the new norm for federal government employees, it required a massive transition, including adding infrastructure and cybersecurity measures to allow federal employees to work remotely. Before the pandemic, few federal workers had the necessary IT equipment to conduct work at home. But with 80% of respondents reporting they found it extremely or somewhat challenging to prevent COVID-19 transmission in federal facilities for those who couldn’t telework, changes needed to be quickly made. Agencies had to learn to embrace the cloud.
“The notion was that basically a few people would work remote some days, not everybody … that created a number of challenges,” says Mark Forman, SAIC vice president of digital government strategy. “Bandwidth, secure access, devices, those were overnight major challenges in order to provide the continuity of people being able to do their job.”
Pre-pandemic, it wasn’t completely abnormal for federal government employees to work from home — but if they were, it was only a small fraction of employees at a time and only one to two days per week, according to the survey. For that reason, federal agencies quickly adjusted to allow for closer to 90% to 95% of the workforce to telework, Forman says.
“They didn’t have the bandwidth for more than 20% to 25% of the people offsite at one time because that’s what they had historically built to, so they had to figure out ways to increase the bandwidth” to allow for a far greater number of remote workers on the cloud, Forman says. Now with increased bandwidth put in place, 41% of respondents said they expected to telework an average three days a week post-pandemic, and another 41% said they expected to telework four or five days a week.
But as the number of people working remotely skyrocketed, managers also feared the possibilities of cyberattacks and fraud waste and abuse, according to the survey results. Nearly 80% of respondents reported they found it extremely or somewhat challenging managing federal IT systems to maximize telework and 74% reported they found it extremely or somewhat challenging protecting government systems from cyberattacks during the pandemic.
“You can’t just manage it like you used to with the perimeter of the building,” Forman says of preventing cyberattacks. “We’re in a much more virtual environment and security controls and risk management has to operate at that level.”
And as federal programs such as the Small Business Administration’s lending programs grew at an unprecedented rate, 75% of respondents reported they found it extremely or somewhat challenging to detect fraud, waste and abuse during the pandemic.
With these concerns in mind, federal government decision makers will be more focused on identifying and dealing with fraud, waste and abuse to ensure that remote working programs are managed effectively.
Aside from cybersecurity and fraud concerns, respondents also indicated that they’ll be working to keep up remote productivity, which has already seen good performance from the remote workforce. Of the respondents, 84% reported that they are more or just as productive since shifting to remote work. Indicators of the increase in productivity included the lack of daily commute time and distractions in the workplace, Forman says.
“We’ve overcome that hurdle that people seem to worry in the past about telework, that you couldn’t trust the employees to be productive. And now, based on the survey, we know people are being productive, and in some cases more productive,” Forman says. ““If you can do your work on your own, maybe it’s not worth fighting the traffic. You’ll have all of the security, equipment and bandwidth to be able to work offsite.”
Health care network HCA Virginia announced Monday that Chippenham Hospital on Oct. 15 was designated by the commonwealth of Virginia as a Level I Trauma Center, making it the only such center in the southern Richmond metropolitan area.
Level I Trauma Centers provide more care options for severely injured patients and the accreditation is the highest level a hospital trauma center can receive. A hospital must meet all requirements to accept a higher acuity (or severity of illness) in order to receive the designation.
“This accreditation demonstrates the focus on patient care and the hard work our staff does every day,” Chippenham Hospital CEO William Lunn said in a statement. “This accomplishment was made possible through the dedication and collaboration of our world-class team of nurses, physicians and support teams who are trained and passionate about caring for the most severely injured patients in our community.”
In order to meet Level I Trauma Center standards, hospitals must offer 24/7 availability of surgical and medical personnel, including trauma surgeons, emergency physicians, orthopedists, neurosurgeons, intensive care physicians and cardiac surgeons as well as the latest technology and equipment, nurses and staff. There must also be an operating room with advanced imaging and cardiopulmonary bypass technology, interventional radiology capabilities and critical care services.
For a year before Chippenham Hospital received this designation, the adult emergency care department received more than 95,000 ill and injured patients, with more than 1,300 submitted to the Virginia State Trauma Registry, according to the Virginia Department of Health.
As part of its Level I Trauma designation, Chippenham Hospital will increase its resident education and research opportunities as well as add infrastructure, including an additional ambulance bay, four trauma bays and helipads.
Opened in 1972, Chippenham Hospital is located directly off of VA-150 (Chippenham Parkway).
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