The annual Queen’s Speech, a ceremony in full regalia that outlines the United Kingdom government’s intended bills and policies for the upcoming year, took on more interest this year as the country counters the ravages of COVID-19. The May 11 speech focused on several issues of pertinence to the hotel and hospitality industries, such as proposals to create and support jobs, invest in and improve national infrastructure, transform connectivity by rail and extend 5G mobile coverage and gigabit-capable broadband.

Additional focus will be provided for environmental protection and new green industries to create jobs, which is especially important in 2021 as the U.K. aims to achieve net-zero greenhouse gas emissions by 2050.

In response to the speech, Kate Nicholls, CEO of UKHospitality, said, “the overall theme of jobs, business and economic growth is absolutely appropriate for where the country finds itself, on the way out of the pandemic crisis."

"It highlights the need for hospitality to be at the center of our national revival,” she added.

According to the U.S. Bureau of Labor Statistics, 8.1 million jobs were created in the U.S. by the end of March, but only six million positions have been filled, highlighting the disparity between firms requiring new labor and unemployed workers willing to join them, The Wall Street Journal reports.

Almost 600,000 positions were created in March, with the largest share of that being in the “accommodation and food services,” which added 185,000 positions, or approximately 31% of the total. The BLS said that hires did not fundamentally change in number across March.

According to the Sovereign Wealth Fund Institute, sovereign wealth funds directly invested $179 billion in 2020, up from approximately $120 million, due to having sold off many assets in 2019 and needing to reinvest cash.

The SWFI said sovereign wealth funds helped support local economies during the pandemic and were a “major contributor of the 2020 equity flow … directly buying stocks after the March 2020 COVID crash.” It added that the funds continue to reduce investment in real estate, spending $14 billion in 2020, $22 billion in 2019 and $42 billion in 2017.

The U.K.’s largest budget-hotel firm Whitbread PLC has announced plans to open on average one hotel per week between now and the end of August as it gears up for May 17’s full reopening of hotels, according to a news release from the company.

Seventeen hotels with a combined room count of 2,142 rooms will be opened in the U.K. in both Whitbread’s Premier Inn and Hub by Premier Inn brands, with destinations including Edinburgh, Glasgow, London, Oxford and Plymouth. The firm said the openings would support an additional 450 jobs.

Perhaps New York City’s most famous hotel, The Plaza has announced plans to reopen on May 20, according to ABC 7 NY. The 282-room hotel — officially The Plaza, a Fairmont Managed Hotel — opened in 1907 on the corner of Central Park and 5th Avenue and has been closed for more than 14 months due to the pandemic.

"We are enchanted to welcome guests once again. New York is not complete without The Plaza and we're thrilled to contribute to the energy and excitement that is returning to this magical city," said Managing Director George Cozonis. "We look forward to the honor of hosting the hotel's loyal guests who return year after year, as well as the privilege of introducing The Plaza to a new generation of luxury travelers."