Page 37 - Scott Berman News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Share The rapid deployment of Covid-19 vaccines is a main factor in an accelerating U.S. lodging industry recovery, and PwC has upgraded its 2021 forecast accordingly, the company reported this week.  PwC in its May Hospitality Directions U.S. report projects 2021 U.S. hotel occupancy to reach 57.2 percent, up from the 52.7 percent level it forecast in November. PwC now projects the U.S. average daily rate to increase 8 percent year over year, with revenue per available room expected to increase 40.1 percent from 2020 levels, reaching about 74 percent of pre-pandemic figures...

(iStock / illustration by Alison Bushor for The Real Deal) The lights are still dark at the Diplomat Beach Resort, a sprawling 1,000-room oceanfront hotel in South Florida. More than a year after the pandemic began, conventions and business travelers — the lifeblood of such large properties — remain sparse. And cruises, which usually feed hordes of passengers to hotels, are still halted. While leisure travelers have descended on South Florida over the past six months, pushing hotel rates up and boosting occupancy, the hotel market’s overall recovery still hinges on the return of conve...

Thursday's Daily Pulse | 4/29/2021 Business travel slow down during pandemic continues to affect Florida’s economy Though commercial flying in Florida has picked up in recent months, the same can’t be said for business travel. In fact, business travel has been slow to recover in the pandemic and it has affected Florida’s economy. “We have not seen a substantial, sustained return of the road warrior,” said Scott Berman, principal and industry leader, Hospitality & Leisure Group PwC. Travel associations report about $300 billion out of $800 billion spent on travel comes from busine...

Concerns are continuing to grow for people working in South Florida’s hospitality industry as their businesses are beginning to rebound, but they can’t hire enough staff to keep up.

Stephen Ross (Getty, Related) Formula One’s plan to race in Miami starting next year has developers and brokers ready to kick their marketing efforts into high gear to appeal to the fast-driving crowd. Efforts to bring the elite race to Miami culminated this month with a city vote that clinched a 10-year deal at Hard Rock Stadium with Related Companies’ chairman and founder Stephen Ross. The approval followed years of negotiations and opposition. Exotic cars are synonymous with high-end Miami real estate and nightlife, and F1’s fan base could bring thousands of new prospective buyers to...