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Coronavirus and Hospitality

In-depth reporting and breaking news on how COVID-19 is impacting hotels and short-term rentals in the U.S., Asia, Europe, and other destinations. Read updates on hotel refund policies, labor issues, political developments, and more. For broader coverage of coronavirus and its impact on the travel industry, please visit our liveblog.

Airbnb’s Valuation Almost Halved to $18 Billion

Airbnb’s Valuation Almost Halved to $18 Billion

Dennis Schaal, Skift

Love it or hate it, you can hardly blame Airbnb for a deflated valuation, although not all of the plunge is coronavirus-related. The pain that is infecting travel and other companies at this moment is boundless.

5 hours ago

Booking Holdings Lays Out an Ominous Financial Outlook

Booking Holdings Lays Out an Ominous Financial Outlook

Dennis Schaal, Skift

If the impact of coronavirus gets worse, and if the company doesn't tap any additional borrowings, Booking Holdings probably has enough money to pays its obligations until the second half of 2021 — but it can't guarantee that will be the case. This has potential chilling implications for weaker competitors, let alone tens of thousands of smaller businesses that will likely be long gone by then.

6 hours ago

Tourism Marketing’s Fight for Survival Offers a Chance for Reinvention

Tourism Marketing’s Fight for Survival Offers a Chance for Reinvention

Rosie Spinks, Skift

There is simply no historical precedent for what the tourism marketing industry is currently going through. Some argue that makes it a perfect time for the industry to reinvent itself.

10 hours ago

Oyo Furloughs Thousands of Employees Globally Except for India

Oyo Furloughs Thousands of Employees Globally Except for India

Dennis Schaal, Skift

Oyo put in place a substantial number of furloughs — likely in the thousands — and there are probably many more to come after the India lockdown ends. The Oyo that emerges will look different than the rocket ship of a year ago. Withdrawing from certain markets will certainly have to be under consideration.

12 hours ago

TUI Scraps Vacation Packages Until Mid-May and Cruises Until June

TUI Scraps Vacation Packages Until Mid-May and Cruises Until June

Sarah Young, Reuters

The UK's biggest travel firm has paused and canceled all hotel stays and vacation packages until May 14. It has put Marella Cruises sailings on hold until June. A new TUI River Cruise product won't start until November. Sensible.

12 hours ago

Coming This Week: The Long View Livestream on Hotel Owners and Investors Recovery Cycle Ahead

Coming This Week: The Long View Livestream on Hotel Owners and Investors Recovery Cycle Ahead

Rafat Ali, Skift

What does the current crisis mean for the hotel owners and investors? Alan Woinski has understood the pulse of the lodging sector for 25-plus years, and I am keen on hearing lessons and learnings ahead. Join me this Friday.

14 hours ago

Economy Extended Stay Is the Strongest of the Weak U.S. Hotel Sector in March

Economy Extended Stay Is the Strongest of the Weak U.S. Hotel Sector in March

Cameron Sperance , Skift

U.S. economy extended stay hotels continue to see relatively strong performance levels during the coronavirus downturn, while offering rooms for emergency services could maintain numbers from dipping as the crisis continues.

1 day ago

Airbnb Grabs $1 Billion Investment From Silver Lake and Sixth Street Partners

Airbnb Grabs $1 Billion Investment From Silver Lake and Sixth Street Partners

Dennis Schaal, Skift

Silver Lake and Sixth Street likely got a very attractive deal in exchange for their investment.

2 days ago

Tourist-Heavy States Will Feel Some of the Worst Coronavirus Economic Sting: Report

Tourist-Heavy States Will Feel Some of the Worst Coronavirus Economic Sting: Report

Howard Schneider, Reuters

As economists struggle to make sense of how big the coronavirus downturn will be, many point to tourist-heavy states with older populations like Florida, Maine, and Nevada as having the most vulnerable economies in the U.S.

2 days ago

Hilton, American Express Offer 1 Million Rooms to Coronavirus Frontline Medical Staff

Hilton, American Express Offer 1 Million Rooms to Coronavirus Frontline Medical Staff

Cameron Sperance , Skift

The Hilton and American Express partnership is the latest in a growing list of hospitality companies looking to pump life into empty hotels during the coronavirus downturn in travel.

3 days ago

Marketers Confront What Travel Will Look Like Post-Crisis

Marketers Confront What Travel Will Look Like Post-Crisis

Raini Hamdi, Skift

As realization sinks in that the coronavirus catastrophe will change travel behaviors, marketers are figuring out how the crisis will reshape clients and and how their brands can remain relevant.

3 days ago

Several U.S. States Mandate Quarantines for Road-Trippers

Several U.S. States Mandate Quarantines for Road-Trippers

Associated Press

While some U.S. states still have porous border, others were clamping down on travelers from neighboring states that have spikes in coronavirus infections. Like a lot of other things regarding the United States response, there is little uniformity or coherent policy.

3 days ago