Airbnb hopes to raise as much as $2.6 billion in its public stock offering this month, marking a comeback from a devastating first three quarters of 2020. The home-share company saw revenue fall by 32% over the period but has rebounded faster than the hotel sector as consumers seek out remote refuges from the pandemic.
The hospitality industry faces a frigid winter as a surge in coronavirus cases leads to wary consumers and tighter government restrictions on travel, but a top analyst predicts a mid-2021 rebound for companies that survive. Business travel should resume by Labor Day thanks largely to progress on the vaccine front, says Jan Freitag of CoStar Group.
Caesars Entertainment Inc. has sold the 288-room Belle of Baton Rouge hotel-casino in Louisiana to Illinois-based CQ Holding Company Inc. for an undisclosed price. The sale continues Caesars' shedding of assets amid its $17.3 billion merger with Eldorado Resorts Inc. in July.
The Hotel Association of Canada hailed a new government relief policy Tuesday, but warned that more help for the struggling industry will be needed later, particularly in the wage subsidy area. "These programs, assuming they can get rolled out quick enough, will clot some of that bleeding," association president Susie Grynol said of the aid, centered on low-interest loans.
Solasta Spa opened this fall in Minneapolis offering advanced treatments such as microneedling, dermaplaning and manual face lift massage. Owner Laurel Vasileiadis is a certified advanced esthetician and cosmetologist.
Wisconsin's Lakeshore Skin and Body has created the "Facial for Healthcare Heros" program to give the free spa service to frontline workers. "Many of us have family that are nurses or doctors that are out there on the frontline or out there in the medical systems, and we just wanted to try to find a way to give back to them," said esthetician Kirsti Letts.
Bon Appetit's new first Black female editor-in-chief Dawn Davis shares her unprecedented journey from Simon & Schuster executive to leading a major magazine title in the culinary world, an industry that has been plagued with accusations of racism and discriminatory behavior. "Some of the people I talked to were people of color who felt that they were listened to, that they were respected, that there's obviously work to be done," Davis says.
A recent Travel Weekly survey revealed a stark difference between how white and Black travel professionals perceive diversity in the industry, with 61% of white respondents agreeing that the industry is inclusive while 61% of black respondents disagreed with that assessment. Among the concerns sited were lack of Black representation in employment, as well as lack of inclusion in advertising and marketing materials.
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