U.S. Hotel Profits Fell 84.6% in 2020

Including a 100.6% decline in December, U.S. hotel profitability fell 84.6% in 2020, according to STR‘s latest monthly P&L data release. December gross operating profit per available room (GOPPAR) came in worse than any month since June in both absolute terms and year-over-year comparisons. “Lower demand in December...

AHLA Report Projects Recovery Outlook for Hotels and Business Travel

The American Hotel & Lodging Association (AHLA) released “AHLA’s State of the Hotel Industry 2021” outlining the forecasted state of the hotel industry in 2021 and into the immediate future. The report examines the high-level economics of the hotel industry’s recovery, the specific impact...

Survey Shows the Majority of Planners Have an Event Planned in 2021

i-Meet and EproDirect recently released its 2021 Planner Confidence Index – Phase 3, showing how planners have already taken action in 2021 to bring face-to-face events back.  i-Meet’s Planner Confidence Index is based on a weekly survey that records the evolving opinions of meeting...

STR: “2020 is Officially the Worst Year on Record for U.S. Hotels”

The U.S. hotel industry reported all-time lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR. In addition to historically low absolute levels in the aforementioned metrics, average daily rate (ADR) came in lower than any year since 2011. Year-over-year...

MPI Highlights 2020 Industry Achievements Amid This Year’s Challenges

Meeting Professionals International (MPI) issued a statement that conveys which initiatives it took in 2020 to keep professionals connected to their industry and prepare for the comeback of meetings and events.  Despite the challenges meeting professionals have faced this year, below are some achievements...

BrainStorm to present NurOwn Phase 3 Clinical Trial Results at 31st International Symposium on ALS

BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading developer of adult stem cell therapies for neurodegenerative diseases, announced that results from the Company's placebo-controlled, randomized, double-blind Phase 3 trial evaluating NurOwn® (MSC-NTF cells) as a treatment for ALS will be presented as an oral presentation...

Ovid Therapeutics to Present at the American Epilepsy Society (AES) 2020 Virtual Congress

Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, announced that abstracts from the TAK-935/OV935 (soticlestat) clinical development program in Dravet syndrome or Lennox-Gastaut syndrome (Phase 2 ELEKTRA study) and the...

Amgen Announces New Data Being Presented At ASH 2020

Amgen (NASDAQ:AMGN) announced several upcoming data presentations from its oncology and hematology pipeline and marketed product portfolio at the 62nd American Society of Hematology (ASH) Annual Meeting & Exposition, Dec. 5-8, 2020. Amgen will present updated data from its bispecific T cell engager (BiTE®) portfolio in...

Study Shows How Different Countries Gauge Returning to Live Events

Sodexo Sports & Leisure – the Sodexo division dedicated to live events, sports and cultural destinations – announced the results of a new survey which found that comfort levels are high across the international countries of the U.S., United Kingdom, France and Spain, as it...

Hotel Occupancy Continues to Decrease as Winter Nears

U.S. weekly hotel occupancy slipped further from previous weeks, according to the latest data from STR through 14 November. 8-14 November 2020 (percentage change from comparable week in 2019): Occupancy: 43.2% (-32.7%) Average daily rate (ADR): US$90.58 (-28.6%) Revenue per available room (RevPAR): US$39.11 (-52.0%) After...