SAN FRANCISCO—Airbnb filed its long-awaited plans to go public as the arranger of short-term private property rentals stares down a pandemic that’s one of the largest threats to the global hospitality industry—and its own prospects of profitability. The San Francisco-based company filed a prospectus with the Securities and Exchange Commission for its planned initial public offering. It said its business model, pitting the lower costs of individuals’ homes against hotels with fixed costs from the ownership of high-maintenance commercial buildings, is able to withstand any disruption dealt by th ..read more

REPORT FROM THE U.S.—Pebblebrook Hotel Trust and six independent and lifestyle management companies have come together to create the Curator Hotels & Resorts Collection. Launching today, the collection is targeted to owners of high-quality independent and small-brand lifestyle hotels resorts who want better deals for the products and services at their properties. Along with Pebblebrook, Benchmark Global Hospitality, Davidson Hotels & Resorts, Noble House Hotels & Resorts, Provenance Hotels, Springboard Hospitality and Viceroy Hotels & Resorts are the founding management partner ..read more

REPORT FORM THE U.S.—Construction pipelines for several hotel brand firms reached a standstill at the start of the pandemic, which led to necessary shifts in brand standard requirements, according to sources. Harry Sladich, EVP of lodging development and franchise operations at RLH Corporation, said his company had a robust pipeline as it entered the first quarter of 2020. But once April came, “everybody just hit pause,” he said. “We were watching successfully operated hotels go to their knees. (We) were watching hotels close. So, any type of building or renovation just completely came to a st ..read more

REPORT FROM THE U.S.—Get the COVID-19 virus under control and travel demand will return. That might seem like a simple thesis, but Hilton CFO Kevin Jacobs said there is “plenty of evidence” that simple theory can hold true across the globe. Speaking during the “Financially speaking: IREFAC insiders” session of the 42nd Annual NYU International Hospitality Industry Investment Conference webinar series, Jacobs said there is optimism looking at countries like China. “I think you can take your cues from some of the places in the world, particularly China, where the virus has been controlled,” he s ..read more

REPORT FROM THE U.S.—Leisure bookings provided a bit of a cushion for public hotel companies over the summer, but the fourth-quarter corporate transient business and group demand are unlikely to be remotely close to an average year. Executives from the major public hotel companies shared the highlights of where they’ve found business transient and group demand as well as their outlook on the segments going forward. Chris Nassetta*, president and CEO, Hilton “We saw leisure trends slow post-summer, offset by a modest uptick in business transient into the fall. … We’ve seen a pickup (in business ..read more

REPORT FROM THE U.S.—Hotel brands tout, among other benefits, the appeal of consistency to guests—being able to reasonably expect the same guest experience at any hotel under the same brand regardless of its location. By making a promise of certain standards, the hotel brands hope to earn guests’ trust and loyalty. Many hotel owners look to tap into that trust, as well as global distribution platforms and loyalty programs, by joining a brand—weighing those benefits against the franchising fees and capital expenditures necessary to maintain the brand’s standards. But this year, the global hotel ..read more

GLOBAL REPORT—Reports of a potential COVID-19 vaccine with a 90% success rate in patient trials has boosted the share prices of hotel firms, but industry advisors said too many questions remain to shift strategy just yet. Stock-price increases have jumped from historic lows in some cases on the announcement from medical companies Pfizer and BioNTech. In share-price numbers as of 10 a.m. GMT, six hotel firms, among the world’s largest showed: Accor on Euronext Paris stock exchange trading at €28.89 ($34.27), an increase of 23.57% from the previous day’s low; Hilton on the New York Stock Exchan ..read more

NEWTON, Massachusetts—Sonesta is undergoing its largest moment of growth in the company’s history thanks to plans to convert 200 Service Properties Trust hotels from Marriott International and InterContinental Hotels Group flags. John Murray, president and CEO of Service Properties Trust, said he expects Sonesta will be up to the challenge. Currently, 99 IHG properties will switch over to Sonesta, which is 33% owned by Service Properties, on 1 December, with the rest of the properties converting in the weeks and months to come. “They’ve been working hard to increase their staffing, a ..read more

GLOBAL REPORT—While the world will likely be dealing with the coronavirus for a while, hotel industry CEOs believe the health crisis will become more manageable and travel will start to return sometime in 2021. During the “CEOs check in: The new norm/an industry update” panel held as part of a webinar series in conjunction with the NYU International Hospitality Industry Investment Conference, Chris Nassetta,* president and CEO of Hilton, said the industry might not change as drastically as some think as a result of the pandemic. Over the past nine months, more data has been uncovered and there ..read more

CHICAGO—China and the U.S. are on opposite sides of the world and opposite sides of the recovery for Hyatt Hotels Corporation. Speaking during his company’s third-quarter earnings call, President and CEO Mark Hoplamazian said that the return of performance in mainland China has been “extremely encouraging,” and that country has seen a demonstrable increase in group business, particularly fueled by product launches. “What we’re seeing is a remarkable evolution in the constraints people live under with respect to how they gather,” he said. “Part of that has to do with the fact that (China’s) who ..read more