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1. Russia Launches Attacks on Ukraine
Russia has launched an invasion of Ukraine, with explosions reported in several Ukrainian cities. Ukraine has imposed martial law and severed all relationships with Russia, according to CNN, which quoted Ukrainian president Volodymyr Zelenskyy saying more than 200,000 Russian troops are now positioned on the Ukrainian border.
In a statement from the White House, U.S. president Joe Biden, who is set to talk Thursday with leaders of the G7 countries, said “Russia alone is responsible for the death and destruction this attack will bring, and the U.S. and its allies and partners will respond in a united and decisive way. The world will hold Russia accountable.”
2. Accor CEO Says Innovation Key to Recovery
Speaking at the presentation of the French hotel company's full-year 2021 earnings, Accor Chairman and CEO Sébastien Bazin said goals for 2022 include higher fee generation, attracting talent and innovating around food and beverage and lifestyle experiences.
“Travel desire has never been stronger than what it is today. … People are eager to actually spend more for a better experience. Our industry is still blessed, and it will be still blessed for a number of years,” he said.
At the end of 2021, revenue per available room was down by 27% compared to 2019, but for the 14 brands under the Ennismore umbrella, now fully integrated, that metric is down by only 8%, reflective of local demand for food and beverage and experiences.
3. England Ends All COVID-19 Regulations
England has removed the legal requirement to self-isolate after contracting the COVID-19 virus, a move that follows a similar decision in Northern Ireland. Strict rules have been in place since the beginning of the pandemic in March 2020, according to the BBC. The United Kingdom is also ending a program which provides a 500 pounds sterling [$679] support payment to low-income citizens who contract the virus.
At the government press conference announcing the decision, the U.K.’s chief medical officer Chris Whitty said the number of people infected with the omicron variant remains very high. He cited last week’s announcement from the Office for National Statistics that COVID-19 infection levels are “estimated [to be] one in 20 people in England.”
4. Pricing Power Drives Weekly US Hotel Performance
U.S. hotel industry revenue performance for the week ending Feb. 19 hovered fractionally below 2019 levels, largely due to continued pricing power, according to data from STR, CoStar Group’s hospitality analytics firm.
Occupancy for the week was 59.1%, down 8.4% compared to the same week in 2019, but average daily rate increased 8.4% to $140.11, and while revenue per available room also decreased, it was only by 0.8%, coming in at $82.87.
Among the top 25 markets in the U.S., only Norfolk/Virginia Beach recorded an occupancy increase over 2019, up 5.7% to 55%.
5. Hilton’s Largest APAC Hotel To Open in Singapore
Hilton will soon open its largest hotel in its Asia-Pacific portfolio, with the 1,080-room Hilton Singapore Orchard, according to Singapore-based owner and partner OUE.
The hotel, formerly the Mandarin Oriental Singapore, has 16 meeting rooms and a pillarless ballroom able to host up to 1,000 people. Following its rebranding, the hotel will relaunch in the first quarter 2022.