COVID-19: Collateral pain | Bankruptcy risk for Greek hotels

Convention travel drop jeopardizes municipal bonds

A steep drop in business travel has cast a shadow over hotels that cater to conferences and conventions. That, in turn, could crimp the budgets of cities that used bonds to finance the construction of the hotels with the hopes of attracting more visitors. Experts say the industry can withstand a downturn of a month or two, but that a longer delay could hamper financing for construction projects in development.

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Some 65% of Greek hotels may face bankruptcy

A study by the Hellenic Chamber of Hotels found that 65% of Greek hoteliers say that they are “likely” to go bankrupt, with 18.3% saying it was “most likely.” The majority of hotels in Greece have forced to close due to new regulations from the government. According to local media, hotel losses are estimated at €4.46 billion (US$4.87 billion) in 2020.

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COVID-19’s impact on wellness

The Global Wellness Institute (GWI) has launched a series of Q&A-style interviews talking with wellness leaders across the globe about the impact of COVID-19 on their industries — now and looking ahead. The interviews will be conducted and curated by the institute’s Beth McGroarty, vice president of research and forecasting; the first one features architect and designer Bill Bensley.

Read the interview

Online career resource launches

An online career center designed to connect qualified hospitality professionals with potential employers, and provide a wide range of helpful career and recruiting resources to the hospitality market, has launched. Via a partnership between Hospitality Technology Next Generation (HTNG) and Hospitality Upgrade, the HTNG Career Center — which was launched in light of massive job displacement due to COVID-19 — provides a searchable database for potential employers and both active and passive jobseekers, as well as access to resources like a free resume review, interview tips and advice on networking opportunities and career advancement. Employers can post open positions on the site and search the resume bank for available qualified candidates. They also have the ability to reach out to as many candidates as they like via the portal at no charge, since a fee only applies if the candidate is interested.

Navigate the career center

Wyndham updates: Rewards, offers for essential workers

Wyndham Hotels & Resorts is offering membership upgrades to essential workers, including truck drivers, delivery drivers, warehouse workers, sanitation workers, grocery associates, health care workers and others. In addition, all gold, platinum and diamond Wyndham Rewards members will automatically have their member level extended through December 31, 2021, and the expiration of any Wyndham Rewards points will be paused until September 30. The company is also expanding its policy, waiving cancellation or change penalties for stays through June 30, provided the request is received at least 24 hours in advance. For stays after June 30, hotels will waive change penalties, provided the request is received at least 48 hours in advance.

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