Hyatt Reports First-Quarter 2020 Results

RevPAR Decline of 28% Due to COVID-19 Pandemic; Net Rooms Growth of Over 6%

First-quarter of 2020 financial highlights as compared to the first quarter of 2019 are as follows:

• Net income (loss) decreased 262.8% to a net loss of $103 million.

• Adjusted EBITDA decreased 54.3% to $86 million, a decrease of 53.9% in constant currency.

• Comparable system-wide RevPAR decreased 28.1%, including a decrease of 25.8% at comparable owned and leased hotels.

• Comparable U.S. hotel RevPAR decreased 24.5%; full-service hotel RevPAR decreased 25.2% and select-service hotel RevPAR decreased 23.0%.

• Net rooms growth was 6.3% in the first quarter of 2020.

• Comparable owned and leased hotels operating margin decreased 1,060 basis points to 14.5%.

• Adjusted EBITDA margin of 18.3% decreased 1,010 basis points in constant currency.

OPENINGS AND FUTURE EXPANSION

Twelve hotels (or 1,820 rooms) opened in the first quarter of 2020, contributing to a 6.3% increase in net rooms compared to the first quarter of 2019.

As of March 31, 2020, the Company had executed management or franchise contracts for approximately 500 hotels (approximately 101,000 rooms), compared to approximately 455 hotels (approximately 91,000 rooms) at March 31, 2019.

Hyatt sets opening dates for new Buckhead, Savannah Hotels

Hyatt Hotels Corporation has announced it plans to open new properties in Buckhead and Savannah next year. The properties, Thompson Buckhead and Thompson Savannah are the first of the brand to enter the Georgia market.

Thompson Savannah is also being developed by Regent Partners and is scheduled to open in the summer of 2021 with 193 rooms. 

The new hotels continue Thompson’s expansion into the south with hotels under development in Dallas, Houston, San Antonio, and Austin, Texas.

For More Information Click Below:

www.bizjournals.com/atlanta/news/2020/07/07/hyatt-hotels-buckhead-savannah.html

Fine Dine restaurants urge govt to revisit alcohol ban; most to stay shut till ban is lifted

Leading fine dining restaurants and cafes including Social, Smoke House Deli, Town Hall, Olive, The Beer Cafe and Lord of the Drinks, which have opted to keep the majority of their outlets shut even one month after lockdown curbs were eased
While announcing Unlock guidelines, the government had issued standard operating procedures for restaurants including reducing the seating capacity to half, ensuring social distancing, and restricting serving liquor.

Industry estimates say the restaurant sector risks losing about two million jobs, with many brands having to deal with permanent closure.

For More Information Click Below:

economictimes.indiatimes.com/industry/services/hotels-/-restaurants/fine-dine-restaurants-urge-govt-to-revisit-alcohol-ban-most-to-stay-shut-till-ban-is-lifted/articleshow/76837658.cms

Michelin-star Restaurant Corner House re-opens with a new chef at the helm

In the six years since its inception, fine-dining restaurant Corner House has been synonymous with its plant-forward menu that reflects the history behind its location in the storied Botanic Gardens. Executive Chef David Thien takes over from long-time chef Jason Tan, who left to start his own restaurant which is slated to open in September or October this year.

For More Information Click Below :

cnalifestyle.channelnewsasia.com/dining/michelin-star-restaurant-corner-house-chef-12908874

Himachal government announces interest subvention on working capital loan for hospitality sector

To provide relief to the COVID-19 affected the tourism sector, the state government has introduced a scheme for interest subvention on working capital loans for the hospitality sector.

The eligibility criteria as well as the magnitude of financing being provided will be based on the unit’s GST payment history.

If the registered tourism unit has paid an average GST up to Rs 1 crore per year, the unit will be entitled to a working capital loan of Rs 50 lakh. 

"Eat out to help out" - Britain aids hospitality sector with voucher scheme

Britain’s government will hand out vouchers worth 500 million pounds ($625 million) to the public to boost spending at restaurants, cafes, and pubs that have been hit hard by the COVID-19 lockdown. For the month of August, everyone in the country will be given an “Eat Out to Help Out discount” voucher.

Britain’s foodservice industry, which employed 1.8 million people before the crisis, has suffered thousands of job cuts, with layoffs announced by firms including the owner of the Upper Crust and Caffe Ritazza chains and Pret A Manger.

For More Information Click Below :

in.reuters.com/article/health-coronavirus-britain-vouchers/eat-out-to-help-out-britain-aids-hospitality-sector-with-voucher-scheme-idINL8N2EF2KF

Distressed deals in hospitality biz on the rise

Owners of hotels and resorts are dialling real estate consultants in desperate efforts to sell their properties amid the demand destruction in the tourism and hospitality industry from the coronavirus pandemic.

These properties, which have gone on sale in the past two months, are valued between ₹50 crores and ₹500 crores each and include some of the top domestic and international hospitality brands.

For More Information Click Below:

www.livemint.com/companies/news/distressed-deals-in-hospitality-biz-on-the-rise-11594254376840.html

Frasers Hospitality reopens properties with new cleaning measures

Frasers Hospitality is reopening its properties with new health and safety initiatives in place in the wake of the COVID-19 crisis.

Following the easing of restrictions in the UK, serviced residences in England reopened on July 4 and those in Scotland will open on July 15, with a phased reopening of boutique lifestyle hotels Malmaison and Hotel du Vin.

Fraser says it has introduced the following measures across its properties as part of its new #FraserCares initiative

For More Information Click Below:

www.businesstraveller.com/business-travel/2020/07/08/frasers-hospitality-reopens-properties-with-new-cleaning-measures/

Chef Ananda Solomon: I believe if the food is good, the croowds will return

Chef Ananda Solomon, the force behind what was the city’s first authentic Thai Restaurant, announced the launch of his own property in February. Of course, your diarist had told you all about it in January.

Solomon used the past months to train his delivery team online and, at the end of June, he finally did return to the cooking station of his 4,000 sq ft property to offer deliveries across the city.

For More Information Click Below :

mumbaimirror.indiatimes.com/opinion/the-informer/chef-ananda-solomon-i-believe-if-the-food-is-good-the-crowds-will-return/articleshow/76867478.cms

Park Inn by Radisson opens new hotel in South Carolina

Park Inn by Radisson has announced the opening of its latest property, Park Inn by Radisson Florence, South Carolina. This marks one of the first new-build Park Inn by Radisson Hotels to open in the US.

With the health, safety, and security of guests and team members as its utmost priority, Park Inn by Radisson Florence, SC has begun implementing Radisson Hotels Safety Protocol program. This program is designed to ensure guest safety and peace of mind from check-in to check-out.

For More Information Click Below :

tradearabia.com/news/TTN_370079.html

Mandarin Oriental Announces New Hotel and Residences in Vienna to Open in Late 2023

Mandarin Oriental Hotel Group has announced that it will manage a luxury hotel and branded residences in Vienna, Austria that is scheduled to open in late 2023.

The 17 Residences at Mandarin Oriental will be located on the top two floors of the building and will have private access to the roof, with several of the apartments offering outdoor terraces and stunning citywide views.

The project is owned by Brisen Group, headquartered in Geneva. London based designers, Goddard Littlefair, have been appointed to create the hotel and residence interiors.

For More Information Click Below:

www.hotelnewsresource.com/article111462.html

UK govt announces 50% discount at restaurants for everyone in August

UK Chancellor Rishi Sunak announced the government will give everyone a 50% 'eat out to help out' discount during August. Meals at any participating business from Monday to Wednesday will be at 50% off up to a maximum discount of £10 per head. VAT has also been cut from 20% to 5% for the hospitality and tourism sectors for six months.

For More Information Click Below :

inshorts.com/en/news/uk-govt-announces-50-discount-at-restaurants-for-everyone-in-august-1594219688657?utm_source=news_share

Lecture on “Disruptions and Happiness” will be delivered by Ms. Deepika Pandita, Director-Human Resources, Hamstede Living Pvt. Ltd on Jul 10, 2020 04:00 PM India

This is the Seventh online lecture of “Career Talk” series for Hospitality students by IHM Ranchi.

The lecture on “Disruptions and Happiness” will be delivered by Ms. Deepika Pandita, Director-Human Resources, Hamstede Living Pvt. Ltd. A Business Leader who is passionate about shaping & building organizations, culture, talent & leaders. She is having 15 years of experience in Hospitality, including over 13 Years in Human Resources, Handling Talent Acquisition in Leadership Hiring, and Campus Recruitment. Worked on Manpower Budgeting, Deployment, Talent Management, Learning & Development, Employee Engagement, and various other facets of Associate Management and business well being. Currently working on assembling a great leadership team to craft a global organisation in the field of revolutionizing the Co-Living Ecosystem.

You are invited to join the lecture on: Jul 10, 2020 04:00 PM India

Register in advance for this lecture: https://tinyurl.com/yamg65v6

After registering, you will receive a confirmation email containing information about joining the Lecture.

We loved this little nugget by Chef Gurpreet Singh Dham - Read to see what should matter when you have a team

Satish Kumar appointed Senior Director Talent & Culture, India & South Asia, Accor

Satish Kumar has been appointed as the Senior Director Talent & Culture, India & South Asia Accor effective from 1 July 2020. With over 2 decades of experience in talent development, In his new role will handle India hotel operations management teams.

Prior to this he was the Director of Learning & Talent Development, India & South Asia, Accor. Before  joining Accor, He was associated with ITC Hotels and Sarovar Hotels.  

For More Information Click Below:

www-todaystraveller-net.cdn.ampproject.org/c/s/www.todaystraveller.net/single-post/2020/07/06/Satish-Kumar-appointed-Senior-Director-Talent-Culture-India-South-Asia-Accor?_amp

Kolkata's five-star Swissotel shuts amid contract expiry

Hit by the Coronavirus-triggered economic crisis, five-star Swissotel in Kolkata temporarily shut operations amid the contract between its owner Ambuja Neotia Group and French hospitality chain Accor expiring. The contract expired on June 30 after ten years of operating the hotel.

Following the closure of operations, 250 employees of the hotel have been sent on furlough with subsistence allowance.

For More Information Click Below:

hospitality.economictimes.indiatimes.com/news/hotels/kolkatas-five-star-swissotel-shuts-amid-contract-expiry/76837001

We are seeing a lot of interest for our premium villas: Shridhar Nair

With Goa hotels opening their doors to customers and new bookings, there seems to be a glimmer of optimism in a corner of the industry in a state which has had a fantastic run when it comes to hospitality.

Amongst the many resorts in India luxury ones, The Leela Goa possibly the highest repeat guest ratio which runs into as high as 36 percent year round, touching 50 percent on some months.

For More Information Click Below:

hospitality.economictimes.indiatimes.com/news/hotels/we-are-seeing-a-lot-of-interest-for-our-premium-villas-shridhar-nair/76794058

Maharashtra allows hotels to resume operations at 33% capacity from July 8, smaller hotels likely to stay shut

The Maharashtra government, through an order allowed hotels and other accommodation providers to resume operations with restricted entry and at 33% capacity outside containment areas from July 8, but industry insiders said smaller, boutique hotels in the state are likely to stay shut given the limited number of rooms, new standard operating procedures (SOPs), and costs of doing business.

The order allows restaurants in hotels to operate for resident guests with social distancing norms

For More Information Click Below:

economictimes.indiatimes.com/news/politics-and-nation/maharashtra-hotels-outside-containment-zones-can-operate-from-july-8/articleshow/76814682.cms?from=mdr

Miami rolls back restaurant dining as U.S. coronavirus deaths top 130,000

Florida’s greater Miami area became the latest U.S. Coronavirus hot spot to roll back its reopening, ordering restaurant dining closed as COVID-19 cases surged nationwide by the tens of thousands and the U.S. death toll topped 130,000 and according to latest update is raised to 1,33,000.

California, Texas and Florida are all among two dozen states reporting high infection rates as a percentage of diagnostic tests conducted over the past week.

For More Information Click Below :

in.reuters.com/article/us-health-coronavirus-usa/miami-shuts-down-restaurant-dining-again-as-u-s-coronavirus-deaths-top-130000-idINKBN2471VX

Sarovar Hotels set to achieve milestone of 100 hotels by 2021

Sarovar Hotels and Resorts which started its journey 25 years ago, is on the verge of completing 100 hotels by 2021. With about 30 properties under development, the group aimed to achieve the target by the end of 2020. However, the disruption caused by the COVID-19 outbreak has pushed the milestone to 2021.

Sarovar Hotels operates in various segments, i’e, budget, mid-budget and luxury.Average Room Revenue  in every segment is equally hit where 20% to 40% of ARR is bleeding. Sarovar Hotels is also focusing on the international market. The hospitality major had strategically expanded into Africa.

For More Information Click Below :

hospitality.economictimes.indiatimes.com/news/hotels/sarovar-hotels-set-to-achieve-milestone-of-100-hotels-by-2021/76788910