Ed Brock is an award-winning journalist who has worked for various U.S. newspapers and magazines, including with American City & County magazine, a national publication based in Atlanta focused on city and county government issues. He is currently senior editor at Asian Hospitality magazine, the top U.S. publication for Asian American hoteliers. Originally from Mobile, Alabama, Ed began his career in journalism in the early 1990s as a reporter for a chain of weekly newspapers in Baldwin County, Alabama. After a stint teaching English in Japan, Ed returned to the U.S. and moved to the Atlanta area where he returned to journalism, coming to work at Asian Hospitality in 2016.
THE U.S. HOTEL industry has lost billions of dollars so far as a result of the COVID-19 pandemic and shutting of the nation’s economy, according to the American Hotel & Lodging Association. That loss of revenue is leading to layoffs and threatening jobs directly and indirectly related to the lodging industry.
Hotels have already lost $2.4 billion in room revenue since mid-February, according to AHLA’s COVID-19 website. At that pace the industry is losing $1.4 billion a week that the COVID-19 pandemic goes on and as Congress continues to debate a stimulus package to benefit hotels and other small businesses.
More than 1 million direct jobs and nearly 3.9 million total jobs have been eliminated or will be eliminated as a result of the crisis, based on current occupancy estimates for the immediate future and historical employment impact rates.
Occupancy is projected to slip below 20 percent for many individual hotels and large companies, according to AHLA. Often hotels close when occupancy goes under 35 percent.
“Most hoteliers are reporting projected revenue losses of greater than 50 percent for the first half of the year,” AHLA said. “The human toll is equally devastating with the majority of hoteliers as well as major hotel managers already reporting significant layoffs and furloughs, in many cases affecting 80 percent or more of staff.”
Sonesta launched Americas Best Value Studios, an extended-stay version of ABVI.
The model targets owners seeking limited front desk and housekeeping.
The brand meets demand for longer-term, value-focused stays.
SONESTA INTERNATIONAL HOTELS Corp. launched Americas Best Value Studios by Sonesta, an extended-stay version of its franchised brand, Americas Best Value Inn. The model targets owners seeking limited front desk and housekeeping, optional fitness center and lobby market along with standard brand requirements.
The brand aims to address the growing demand for longer-term, value-driven accommodations, Sonesta said in a statement.
"Americas Best Value Studios by Sonesta represents a strategic evolution of our trusted Americas Best Value Inn brand," Keith Pierce, Sonesta’s executive vice president and president of franchise development, said. "We are expanding our offerings to directly address the increasing demand within the extended-stay segment, providing a practical solution for travelers seeking longer-term lodging at value. This new brand type allows our local franchised owner-operators to tap into a growing market while maintaining the community-focused experience that Americas Best Value Inn is known for."
ABVI has a majority presence in secondary and tertiary markets, the statement said.
The extended-stay brand’s operational model features a front desk, bi-weekly housekeeping, on-site laundry and pet-friendly accommodations, Sonesta said. Guests can also earn or redeem points through the Sonesta Travel Pass loyalty program.
In August, Sonesta named Stayntouch its preferred property management system after a two-year review of its ability to support the company’s franchise model. The company operates more than 1,100 properties with more than 100,000 rooms across 13 brands on three continents.
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