Amid grim times, Canadian hotel industry eyes recovery [Globe and Mail, The (Toronto, Canada)]
Cushman & Wakefield plc Ordinary Shares (CWK)
Last cushman & wakefield plc ordinary shares earnings: 2/27 04:09 pm
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Source: Globe and Mail, The
Average occupancy was 27 per cent, the lowest level for a quarter on record. The sector is counting on pent-up leisure-travel demand – or “revenge travel,” as one analyst calls it – to spark a comeback this summer. “There is huge expectation of a significant surge in demand beginning the second half of this year,” says Brian Flood, vice-president and practice leader of Cushman & Wakefield's hospitality and gaming group in Canada. “Resorts in particular are seeing very strong advance bookings, and some are sold out for the summer – at significantly higher rates.” An increase in summer bookings, the fulfilment of which depends on the easing of provincially mandated lockdowns expected this month, offers hope in dark times that one hotel association compared to the Great Depression. For the past 15 months, more than two-thirds of hotel rooms across the country sat empty as international travel to Canada declined 93 per cent. Even as hoteliers knew that discounting room rates would
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CWK
Earnings
- 4/29/24 - Beat
CWK
Sec Filings
- 4/30/24 - Form 10-Q
- 4/29/24 - Form 8-K
- 4/16/24 - Form 4
- CWK's page on the SEC website