Luxury Hotel Competitors Join Forces and 17 Other Coronavirus Travel Stories This Week
Skift Take
This week's coronavirus-related travel stories included Hong Kong legacy hotel competitors seeing a common threat, Blackstone has a Hilton playbook, Delta's CEO looked for a three-year recovery, and Expedia's new CEO got a private equity lifeline.
Hong Kong’s Legacy Luxury Hotel Players Join Forces to Aid in Recovery: What greater motivation is there than protecting one’s legacy? Hong Kong’s hotel brands with deep roots in the city share this incentive, which should help in the destination’s recovery efforts.
How Blackstone’s Earlier Hilton Investment Will Guide Its Hotel Strategy in This Crisis: Coronavirus may lead to distressed pricing and investment opportunities for firms like Blackstone, but it could take up to a year before we see the first wave of acquisition plays.
Don’t Count on Airlines to Fully Recover for 3 Years: Delta CEO: It could have been worse. Delta Air Lines reported $8.6 billion in first quarter revenue, but demand fell by 95 percent in April. The second quarter could be way more ugly, even after the airline cut its schedule by 85 percent.
A Third of Americans Want to Travel Again Shortly After Pandemic Is Contained: Skift Research’s Latest Travel Tracker: What will travel look like on the other side of the pandemic? Skift Research’s m
