5 things to know: 2 June 2020
 
5 things to know: 2 June 2020
02 JUNE 2020 9:28 AM

From the desks of the Hotel News Now Editorial staff:

  • Protests continue in US; some hotels damaged
  • US hotel operators navigate reopening options
  • Extended-stay hotels report relatively high RevPAR in April
  • Hoshino Hotels raises hotel fund
  • Charlestowne to manage Thrash Group’s hotels

Protests continue in U.S.; some hotels damaged: Peaceful protests against the death of George Floyd by a Minneapolis police officer turned violent in some U.S. cities for a seventh night, The Wall Street Journal reports.

Looting and other acts of violence occurred in cities such as New York and Washington, D.C., despite curfews that were put in place.

Hotels have also been damaged amid protests. According to Travel Weekly, the Hay-Adams hotel in D.C. caught fire over the weekend and the Sofitel Washington D.C. Lafayette Square’s windows were broken.

U.S. hotel operators navigate reopening options: Hotels are starting to reopen and recover from the pandemic, but hotel operators said protocols for reopening in the U.S. won’t be the same for every hotel, HNN contributor Danny King writes.

States are reopening on their own terms while taking several factors into considerations, such as the ongoing pandemic and weighing health risks against opening up the economy, so hotel operators also have to establish procedures and protocols on a case-by-case basis.

“There’s such a disparity in jurisdictional approach across the landscape,” Davidson Hotels & Resorts COO Pete Sams said. “There are an amazing number of moving parts, state to state, hotel to hotel.”

Extended-stay hotels report relatively high RevPAR in April: Data from The Highland Group indicates U.S. extended-stay hotels reported revenue per available room of $29.78 in April, which was much higher than what data from STR, HNN’s parent company, showed for the luxury segment.

The extended-stay segment still posted declines in RevPAR for the month, with economy extended-stay down 18%, midscale down 55.8%, and upscale down 76.3%.

“Extended-stay hotels, especially the economy segment, should continue to demonstrate RevPAR loss resilience during the foreseeable future,” Mark Skinner, partner at The Highland Group, said in an email.

Hoshino Hotels raises hotel fund: Affected by both COVID-19 and the year delay of the 2020 Tokyo Olympics, Japanese hotel firm Hoshino Resorts announced it is establishing a fund of 10 billion Japanese yen ($92.3 million) to attract hotel investors in a joint venture with Risa Partners, according to a news release from the hotel firm.

The fund, administered under division H&R Asset Solutions Co., will be formed this summer and “aims to provide a succession of business, assistance in the transfer of business, and ways of fundraising for hotel and ryokan operators that are facing a serious loss of demand. Hoshino Resorts will operate the property or aid in management if necessary.” Ryokans are traditional Japanese spa-hotels.

Charlestowne to manage Thrash Group’s hotels: Management company Charlestowne Hotels announced it has signed a deal with development company The Thrash Group to oversee its entire portfolio of hotels, according to a news release.

The deal will add 10 hotels to Charlestowne’s portfolio, which marks the largest deal in the company’s 40 years in business.

Five of the 40 properties belong to Origin Hotel, “an independent brand of lifestyle hotels,” the release states.

Compiled by Danielle Hess.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.