From the desks of the Hotel News Now editorial staff:
- US sees record 50,000 new COVID-19 cases in one day
- Jobless rate falls to 11.1% in the US
- Pebblebrook execs share update on operating trends
- US hotel results for week ending 27 June
- UK to exempt certain countries from quarantine list
U.S. sees record 50,000 new COVID-19 cases in one day: The number of new COVID-19 cases in a single day in the U.S. passed 50,000 for the first time yesterday, The Wall Street Journal reports. Data compiled by Johns Hopkins University shows the U.S. accounts for approximately a quarter of the 10.6 million cases globally. The death toll in the U.S. has passed 128,000.
California is one of the several U.S. states that has seen a significant increase in cases, and hospitalizations there have jumped more than 40% in the last two weeks, the article states. Gov. Gavin Newsom announced new restrictions in response, including the mandatory closure of bars, indoor restaurants, movie theaters, zoos and museums in 19 counties.
Jobless rate falls to 11.1% in the U.S.: Data from the U.S. Department of Labor shows the economy added 4.8 million jobs in June, dropping the unemployment rate to 11.1%, The Wall Street Journal reports. Those numbers do not factor in, however, recent government-mandated business closures and the resulting layoffs.
Business reopenings and government aid helped with hiring in June, the article states. Many states allowed restaurants, gyms and salons to reopen after being closed for weeks, and the federal Paycheck Protection Program helped companies continue to employ workers. Many states are now pausing or reversing course on their reopening, though, as there has been a resurgence in the number of COVID-19 cases.
“We’re in the beginning of a slow recovery,” said Marianne Wanamaker, a labor economist at the University of Tennessee, who previously served as an economist in the Trump administration. “I think the recovery will stall out if we don’t get control of the virus.”
Pebblebrook execs share update on operating trends: Pebblebrook Hotel Trust has been able to reopen nearly half of its 54-hotel portfolio, company executives said during a recent call sharing second-quarter operating trends. Executives cite the gradual return of leisure demand enabling them to reopen certain urban market hotels and all of their eight resorts.
Along with leisure demand, Pebblebrook Chairman, President and CEO Jon Bortz said they are seeing a slow return of corporate and small group demand at certain properties. However, he said it will still take some time for that to return to normal.
“The return of any meaningful group business, as well as any medium to large groups, is still likely a long way off, particularly as our country is experiencing a resurgence of virus spread, cases and hospitalizations in many markets,” he said. “Of course, this resurgence could impact the recovery in all travel, including leisure, so we're keeping a very close eye on transient cancellations and bookings.”
U.S. hotel results for week ending 27 June: U.S. hotels reported year-over-year declines in the three key performance metrics for the week ending 27 June, according to data from STR, parent company of Hotel News Now. The numbers do, however, show a small improvement in performance compared to previous weeks.
Occupancy dropped 38.7% to 46.2% while average daily rate fell by 29% to $95.37, resulting in revenue per available room falling 56.5% to $44.03. Aggregate data for the top 25 U.S. markets showed they had lower occupancy (40%) than the national average while their ADR ($95.43) was only slightly higher than the national average.
U.K. to exempt certain countries from quarantine list: The United Kingdom will soon release a list of up to 75 countries from which it will not require inbound travelers to quarantine, the BBC reports. Currently, only travelers from the Republic of Ireland are allowed to arrive in the U.K. without having to self-isolate for two weeks.
The government will rate countries as green, amber or red depending on the number of coronavirus cases, the article states. Some countries on this list will still have restrictions on travelers from the U.K.
Compiled by Bryan Wroten.