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1. Flight Bookings Across the Atlantic Fall Sharply
In the days following the emergence of the omicron variant, bookings for flights across the Atlantic and between Europe dropped significantly, the Wall Street Journal reports, interrupting the international travel recovery that was starting to take place.
Bookings for flights to Europe in the week starting Nov. 22 declined 55% from the week prior, data from travel analytics firm ForwardKeys shows. Bookings between the U.S. and Europe for the week of Nov. 29 recovered 5%, "but still represented just 33% of bookings recorded during the same week in 2019," according to the news outlet.
2. Sunstone Sells Embassy Suites La Jolla for Nearly $227 Million
Irvine, California-based real estate investment trust Sunstone Hotel Investors completed the previously announced sale of the 340-room Embassy Suites La Jolla and the acquisition of the 85-room Four Seasons Napa, according to a news release.
The sale price of the Embassy Suites, which was completed on Dec. 2, was $226.7 million. The purchase price of the Four Seasons Napa was $177.5 million and was completed on Dec. 1.
The acquisition of the Four Seasons was "funded through a combination of cash on hand, funds from the sale of the Embassy Suites La Jolla, and from borrowings on the company's revolving credit facility," the release states.
3. A Look at Hotel Stock Price Volatility
Hotel News Now's Robert McCune writes that hotel stocks have been on a roller-coaster ride over the past month, with better-than-expected third quarter performance by hotel brands and broader concerns with inflation and COVID-19 variants creating a drag on stocks.
Within the first week of December, major hotel brands' stock prices are rising back, compared to being significantly down in November.
"Among the hotel brands, Hilton Worldwide Holdings' stock is up nearly 5% since Nov. 30, and Marriott International is up 6%. Hotel real estate investment trusts are also showing gains, with Apple Hospitality REIT up 6% and Hersha Hospitality Trust up nearly 3% since Nov. 30," McCune writes.
4. Supply-Chain Issues Hurting 86% of Hotels' Operations
A recent survey by the American Hotel & Lodging Association shows supply-chain disruptions are moderately or significantly hurting the operations of more than 8 in 10 surveyed hotels [86%], according to a news release.
Additionally, the survey notes nearly 3 in 4 hotel operators say "the disruptions are negatively impacting their business revenue."
Other data points to note include 85% of hotels experience a lack of availability for linens and soft goods; 76% have issues obtaining food-and-beverage supplies; and 72% have little availability to cleaning and housekeeping supplies.
5. Amazon Web Services Outage Disrupts Disney World Parks
The outage of Amazon Web Services, which provides cloud computing services to many companies, affected Walt Disney World parks in Orlando on Tuesday, the Miami Times reports.
"The AWS outage derailed major systems at the theme park, interrupting services like Disney Genie, transportation, mobile ordering, entrance admissions, and park pass, hotel and dining reservations, according to the Inside the Magic blog," the news outlet writes.