This week in hospitality news, the far-reaching impact of coronavirus on the industry is becoming clearer, with Hilton CEO predicting business to be affected for up to a year after closing hundreds of hotels in China. Plus, Vacasa's CEO steps aside as company looks to go public.
Hotel News Weekly Roundup
Throughout the week we post dozens of original stories, connecting the dots across the travel industry, and every weekend we sum it all up. This weekend roundup examines hotels.
For all of our weekend roundups, go here.
Hilton CEO Says Business Could Be Impacted for Up to a Year From Coronavirus: Hilton and many other major hotel companies have had to close hundreds of hotels in China in response to the coronavirus. The outbreak could have long-lasting effects on the hotel industry, which has already been grappling with a slowing global economy and other geopolitical issues.
Europe’s Meininger Hotels Mulls Going Public: Report: After months of problems, Mumbai-headquartered Cox & Kings is now undergoing insolvency proceedings in India. Will Meininger, its hybrid hotel chain, get a new lease on life?
Uber Co-Founder Travis Kalanick Backs Hotel Company Using 3D Printing Tech: The figure $20 million might not sound like a huge amount, but in the world of flat-pack hotels, it can probably get you quite far.
Wyndham’s China Coronavirus Woes: 70 Percent of Hotels Closed: Wyndham Hotels and Resorts has closed about 1,000 of its hotels in China because of coronavirus. Those that remain are welcoming fewer guests. The outbreak continues to wreak havoc on the travel industry.
TUI Bets Big on Taking Thomas Cook Market Share: TUI CEO Fritz Joussen sounded much more upbeat than he did last December. While the Max grounding continues to cause problems for the company, holiday bookings for summer 2020 have grown. For now, it thinks it has the edge on its remaining competitors.
Vacasa Seeks New CEO as Founder Eric Breon Steps Aside: Eric Breon grew Vacasa from a business run off his dining room table to North America’s largest full-service vacation rental management business. Few startups have the awareness to know when they need different leadership to get to an initial public offering, and Vacasa may be a rare exception.
Is Airbnb’s Stock Market Debut in 2020 Still On Track? Sporting some red ink in its financial results doesn’t spell doom and gloom for Airbnb’s prospects of going public in 2020. On the other hand, the question for employees and investors becomes — at what valuation?
Building an Indonesian Lifestyle Brand From the Ground Up: Lifestyle brands can feel like the forced product of one too many focus groups. Potato Head is the opposite: It’s an Indonesian-born lifestyle brand that has been slowly built from the ground up with an emphasis on community, art, and culture.
Europe Is Shaping the Luxury Eco-Resort Movement: You may start seeing the term “eco-resort” pop up more and more. But in investigating the trend, we discovered a variety of definitions, which makes the actual meaning of the term nebulous. It’s best to look to Europe for clarification.
More Properties in Europe Want the Luxury Eco-Resort Label” As luxury resorts jockey for ways to differentiate themselves from the pack, a shift toward more environmental practices may help them find new customers. The key, though, is making sure those green efforts come from an authentic — and not purely financial — place.
Photo credit: The Hilton Wenan is one of the company’s China properties affected by the coronavirus outbreak. Hilton Hotels and Resorts