Airbnb IPO could be ‘steal,’ CNBC’s Cramer says
The coronavirus pandemic has carved out a lane for lodging company Airbnb and it makes the forthcoming IPO even more enticing, CNBC’s Jim Cramer has said, calling the deal a “steal.” With hotels crippled, Cramer said the industry will find it much harder to continue boxing Airbnb out of the market. Airbnb rentals in rural areas have particularly recovered as people continue to seek vacation and refuge from virus-stricken communities.
‘Comfort’ key to recovery of global travel and tourism
After the coronavirus pandemic’s devastating effects on travel in the second quarter of 2020, improvement is expected over the second half of the year, Moody’s Investors Service says in a new report. However, significant recovery is unlikely until consumers are comfortable traveling again en masse, likely after vaccines and treatments are widely available. While consumer demand for leisure and personal travel will be the first to return, the report says business travel will remain limited as companies protect employee health and safety, try to limit costs amid lower revenue and rely on teleconferencing.
Bali closed to foreign tourists until end of 2020
The Indonesian island of Bali will not open to foreign tourists again this year due to coronavirus concerns. Authorities of the popular holiday destination had previously said foreign visitors would be allowed to return from next month. But the plan has been abandoned over concerns about Indonesia’s mounting COVID-19 cases. The move has renewed worries about the impact on residents in an economy heavily dependent on tourism.
Luxury holidays? Demand is still there
An affluent group of travelers is driving pent-up demand for luxury holidays this year, according to a new survey from Small Luxury Hotels of the World. The results show a desire for travel this year now that some travel restrictions have been relaxed, a willingness to travel internationally by plane and a preference for smaller hotels where guests’ experiences can be managed and customized. Of North Americans surveyed, 43% are initially planning to travel domestically and 38% were prepared for international travel.
ALIS, ALIS Law 2021 dates rescheduled
Hospitality conference ALIS, originally scheduled for January 25-27, 2021, instead will be held April 19-21, 2021, at the JW Marriott Los Angeles L.A. ALIS Law, an annual event that focuses on the many legal issues owners and operators face, will shift to April 18-19, 2021, at the Courtyard/Residence Inn Los Angeles. Conference registration and host hotel room blocks for ALIS and ALIS Law are scheduled to open in mid-September. Shifting government regulations and guidelines that affect the number of attendees permitted to attend, social distancing measures, and travel restrictions/quarantines each played a role in the decision.