Here’s a look at last week’s hospitality news headlines:
Wildfires raging across the West Coast have added yet another obstacle for restaurants to overcome as they continue to struggle in the wake of Covid-19. Most restaurants are currently relying on outdoor dining to supplement lost revenue due to restrictions on indoor dining. The fires in California, Washington, and Oregon have severely impacted the air quality all over the West, causing many restaurants to temporarily close.
Hotel occupancy continues to lag at unprecedented levels, both domestically and abroad. In Manhattan, for example, well over half of rooms remain closed.
In brighter news, the pizza industry reigns supreme as both major chains and independent pizzerias thrive in the current to-go culture of dining and ordering out. And The Marketing Executive Group is offering free Ted-talk like seminars to help restauranteurs develop effective marketing strategies to help with pandemic struggles. Read on for more hospitality news headlines from last week.
Our Customers and Partners:
- Square Unveils On-Demand Pay & Instant Payments Feature for Payroll Customers
[CrowdFund Insider]
Payments platform and POS provider Square announced the launch of two new features: on Demand Pay for employees and Instant Payments for employers. The offerings leverage Square’s Seller and Cash App ecosystems to give customers and employees more control over cash flow.
News:
- West Coast Wildfires Prompt Temporary Restaurant Closures All Over California, Oregon, and Washington [Nation’s Restaurant News]
Raging fires covering over 4,000 miles of coastline has further disrupted restaurants already struggling for survival amid the Covid-19 pandemic. Air quality is a major concern for restaurants operating on a predominantly outdoor service model. - International Tourist Numbers Down 65% in First Half of 2020 [Hospitality Trends]
Year over year international tourist arrivals fell 93% in June according to the World Tourism Organization. The year to date figure is 65% lower than usual for the past 6 months. Figures represent a 440 million-person reduction in international arrivals. - 61,450 Manhattan Hotel Rooms Remain Closed-58% of Room Inventory [Hospitality Net]
PwC’s Manhattan Lodging Index reports that as of Q2 2020, revenue per available room experienced a 82% YoY decline, making it the largest decline in modern history. Luxury and upscale hotels have been impacted the most and are closing at the highest rate.
Technology:
- Delivery By the Numbers: What Third-party Platforms Are Offering Restaurants to Survive the Pandemic [Restaurant Dive]
Yelp reports that restaurants have been permanently closing at a rate of 60% since mid-June. DoorDash, Postmates, Uber Eats, and Grubhub have all offered restaurants a break in the form of discounts, loan programs, curbside pickup options and more in an effort for mutual survival.
Trends:
- Independent Pizza Sales Boosted by Covid-19 pandemic, report shows [Restaurant Dive]
Pizza continues to be a big hit during the pandemic. Sales in major pizza chains and independent pizzerias are surging. Slice, an online marketplace for pizzerias have doubled weekly sales, and is on track to generate $600 M in food sales.
- MEG Talks Keep Operators Up On Latest Marketing Strategies [Restaurant News Resource]
The Marketing Executive Group is hosting a series of talks that address issues restaurants are facing in the pandemic and how they can craft effective marketing strategies to increase customer traffic. The free sessions are open to the public.
Click here for last week’s edition of Fresh From the Oven.
