Online Casinos in Canada Tips: Worst decline hotel industry has ever seen: Best Western CEO

Online Casinos in Canada Tips: Worst decline hotel industry has ever seen: Best Western CEO

Awesome Online Casinos Tips: Worst decline hotel industry has ever seen: Best Western CEO



David Kong, Best Western Hotels and Resorts CEO and president, speaks with CNBC’s Seema Mody about the company’s business strategy for working around the coronavirus outbreak and how its smaller hotels are coping.

Major hotel chains are temporarily closing properties and seeing occupancy rates tumble as travelers stay at home during the coronavirus outbreak.

Global hospitality research company STR said Wednesday that for the week of March 8-14, hotel occupancy was down 24.4% to 53% year-over-year. Meanwhile, revenue per available room, a key industry metric, fell 32.5% to $63.74.

The numbers echo plunging demand for air travel and cruise ships as travel slows to a trickle. There have been more than 200,000 cases of the coronavirus so far, and governments are imposing restrictions to combat the spread. The United States border with Canada will temporarily close to “non-essential traffic” due to the coronavirus pandemic, the leaders of both countries said Wednesday morning.

“To no surprise, the hurt continued and intensified for hotels around the country,” said Jan Freitag, STR’s senior VP of lodging insights in a statement. “The performance declines were especially pronounced in hotels that cater to meetings and group business, which is a reflection of the latest batch of event cancellations and government guidance to restrict the size of gatherings.”

Even before Nevada ordered the closure of casinos and other businesses, MGM Resorts International and Wynn Resorts announced the temporary closure of their properties in Las Vegas. That includes well-known hotels like the Bellagio, MGM Grand Mandalay Bay, The Mirage and others.

Following the closure of its U.S. theme parks, Disney closed all its owned and operated hotel locations at Downtown Disney in Anaheim and Disney Springs in Orlando, beginning Tuesday. The Disney owned and operated hotels at Walt Disney World Resort and Disney’s Vero Beach Resort will close at 5 p.m. on Friday, March 20, the company said in a statement.

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10 Replies to “Online Casinos in Canada Tips: Worst decline hotel industry has ever seen: Best Western CEO”

  1. THE GREAT TRUMP DEPRESSION…..another republican president, another market crash……Funny how the gop was yelling SOCIALISM SUCKS last month as they get ready to BAILOUT CORPORATIONS, AGAIN!!!!……you're being robbed America and they'll give you nothing

  2. BOO HOO! BLAME THE GOVERNMENT FOR THIS MESS! GAVE THESE CORPORATION BILLIONS IN CORP TAX CUTS AND INSTEAD OF EVENLY SPREADING TO EMPLOYEES THEY USED IT TO BUY BACK STOCKS AND UP TO 15 TIMES LEVERAGING. BOOSTING SHARES EARNS AND CEO PAY! LUXURY BOATS PLANS PAINTINGS CARS …AND ONLY THING UNEMPLOYED AMERICANS CAN SAY IS SO SAD?? SMH

  3. mais dans une limite raisonnable et pas pour des millards mais pour les gens qui ont cru en nous en haut et qui se retrouvent coincé a croire avoir perdu face a des millards que l'on peut faire par ans et qui doivent se sentir demunie d'avoir perdu leur economie alors que le rebond peut ne plus compter.

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