Denver’s Lodge Trade Struggles to Rebound from COVID-19 Impacts
Courtesy of Gaylord Rockies Resort & Convention CenterBusiness
About eight months after the hotels were temporarily closed, the companies continue to make up for lost time — and money.
• November 9, 2020
Many businesses have collapsed this year, and the hotel industry in Denver has also been under attack. Seven months after COVID-19 pushed for home rentals and caused the economy to slow down, hotels are still struggling to make up for lost money.
According to Visit Denver, hotel availability in the region decreased by about 42% annually, from September 2019 to September 2020. [Colorado] The Convention Center is being used as a center of attention, “said Richard Scharf, President and CEO of Visit Denver.” The high-volume, lucrative travel market has also been tarnished. “
Courtesy of Source Hotel
Mid-day prices have dropped by 28% this year as hotels lowered prices to fill rooms, according to Visit Denver. Source Hotel in RiNo reduced prices by 30% to reduce the rate by 40%, says chief executive David Stutz. “The business came back well after the summer season and we saw spikes in business over the weekend,” he said.
Sage Hospitality Group – which manages 16 hotels in the state, such as the Crawford Hotel at Union Station and JW Marriott in Cherry Creek – has temporarily closed two but two Colorado hotels in March and April. The hotels reopened in late May and early June when national bans were lifted. “I think most hotels in the early stages of the epidemic have realized that you will not be closed than to be open,” says Walter Isenberg, CEO of Sage Hospitality Group. “And when the machines changed, people started to open up.” (Mid-year earnings were 97% lower in April, he says.)
Isenberg says since April money has changed month by month, but Sage Hospitality, which manages 52 hotels, is still seeing an increase in population from 65 to 70%. Renting out the rooms, a number of Sage sites are developing technology by providing daily prices for those who want to work away from home. The company also has a partnership with the University of Colorado Boulder to rent hotel rooms as dormitories.
Outside the Oxford Hotel in LoDo. Courtesy of Sage Hospitality Group
The type of hotel accommodations has also changed as tourists seek out more amenities than meeting rooms and meeting places. JW Marriott in Cherry Creek, for example, surpassed many hotels in downtown Denver, and hotels like Oxford and Crawford performed better than hotels known as Marriott Stadium, Isenberg says. “The main reason the stock continues to thrive is that almost 100% of the businesses we see are retired,” he says. “No meetings. There is no meeting place, and there is no working room. ”
The Gaylord Rockies Resort & Convention in Aurora also sees hotel guests for a variety of reasons than is unusual. “Summer was a little different for us this year as our guests were mostly retired guests who were at the hotel to enjoy what we had,” says Deanne French, executive director of Gaylord Rockies. “It was a sleeping summer.”
Although the summer months have come a long way, hotels are now looking forward to the holiday season. The Frenchman says the holiday season is a beautiful place for Gaylord Rockies as the hotel prepares for Christmas at Gaylord Rockies, which includes photos with Santa Claus as well as outdoor snowmobiles. However, not all local hotels are happy in the coming months. “The holiday season seems to be running out, although we hope it can surprise us with a lot of ideas,” Stutz told Source Hotel.
Despite the losses and changes this year, Isenberg predicts that sales will recover, though he says it will take time. He estimates that hotels across the country have returned to the plague before the second half of 2023 or the first half of 2024.
“Hospitality companies are in dire need,” Scharf said. “But the speed of recovery will be determined by the economics, safety measures, and the results of the best COVID-19 drug, rapid testing and vaccination.”
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