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X-ON is exactly right. Right now they are keeping the prices high because of a few reasons:
1. Low interest but many fixed costs that still need to be paid being spread over fewer customers 2. You probably “really need to” be staying at a hotel right now. With so few things open and available, why would you travel right now unless out of necessity? |
Originally Posted by cfabar1
(Post 32216044)
X-ON is exactly right. Right now they are keeping the prices high because of a few reasons:
1. Low interest but many fixed costs that still need to be paid being spread over fewer customers 2. You probably “really need to” be staying at a hotel right now. With so few things open and available, why would you travel right now unless out of necessity? |
Originally Posted by ftrichard
(Post 32214269)
Over the border they put you in designated transport driven by guys in hazmat suits behind sealed plastic barriers. But that may be overkill. I didn't know what to expect when I arrived and I was happy surprised that it was straightforward and the assumption was that I would be a responsible citizen. As everyone arriving at HKG is going into quarantine either at home or a hotel now, I imagine they take the view that there's little risk to the taxi driver as you're both wearing masks and you don't have symptoms at that point. Up to the taxi driver anyway if they want to do airport runs at this time.
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I am completing a stay here at the Sheraton Vancouver Wall Centre. Business is way the f down for obvious reasons. On arrival, the lounge, gym, and pool were all closed. At the time, guests were given vouchers for the restaurant for breakfast and dinner. I never got these. I was just told my name would appear on a list for breakfast. Then, the BC gov't closed all restaurants. The property responded by closing their restaurant; making IRD the only way to receive meals on property. Ever try eating sunny side eggs in a takeaway container? It wasn't easy. I got my first and only night of comped dinner just a little bit ago, which is fine because I dined out in Vancouver for most of my visit. Eating steak out of a takeaway container with plastic flatware wasn't much easier. Despite these adjustments, the property seemed to handle things pretty well considering the times we now live in. Also, wanted to note that they had consolidated footprint as had the JW Marriott/Autograph that is located in Vancouver. The Sheraton may not remain open past this month. Employees are being told to prepare for unemployment. Not sure what the story is over at the JW.
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Originally Posted by cfabar1
(Post 32216044)
X-ON is exactly right. Right now they are keeping the prices high because of a few reasons:
1. Low interest but many fixed costs that still need to be paid being spread over fewer customers 2. You probably “really need to” be staying at a hotel right now. With so few things open and available, why would you travel right now unless out of necessity? I got back from a work trip 3/10, and have had zero social contact since, nearly the two week self isolation; fact is life has to go on and so I might as well get on with it assuming it doesn’t involve other people. There could well be a stay somewhere both on the road (not sure I can still drive straight through like I did often 20 years ago) and on arrival in Austin since don’t really know the state of play and I don’t really feel the need to sleep on the floor when there is lodging available until I can arrange a futon or similar. Will probably be back to self isolating anyway once I do get a place I can sleep, no real risk to anyone else even if I do catch the plague, why not go? |
I've been randomly checking flights and hotels and the prices have not come down. It puzzled me until I realize that reducing pricing will not increase occupancy. Normally, reducing prices increases occupancy, but not in this case. For the most part, only those who must travel will travel, especially in states with shelter in place orders. And for those who don't need to travel, few will travel, even at fire sale prices.
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Originally Posted by rylan
(Post 32212011)
So we know that Marriott is offering free cancelation/changes per their COVID statement on the website. I see advance purchase rates that state non refundable if canceled less than 1 day before arrival so thats fine... but I've still seen some that say non refundable if not canceled within 1 day of booking. Seems they missed a few of those rates?
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I haven't noticed a lot of discounts on pricing at Marriot Bonvoy properties. I've been hearing that most properties in Vancouver are at 5-10% capacity, but prices are at their seasonal norms? Would love to do a staycation, but I can't justify it unless we start seeing prices under $100.
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I wouldn't expect hotels to drop prices significantly. More to the point, do you really want to be in a hotel with lots of other people at the moment?
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Originally Posted by derpydogs
(Post 32218300)
I haven't noticed a lot of discounts on pricing at Marriot Bonvoy properties. I've been hearing that most properties in Vancouver are at 5-10% capacity, but prices are at their seasonal norms? Would love to do a staycation, but I can't justify it unless we start seeing prices under $100.
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I haven't been in a hotel providing housekeeping of existing guests for three weeks. Prices remain high, but have been able to negotiate at places where I am known. Not known, little success.
Marriott's three Vacation Clubs at South Lake Tahoe appear to have closed. Ouch! |
Arnes response
Arne + Bill Marriott are giving up pay for the rest of 2020
Executive Team @ Corporate are all taking a 50% pay cut (WONT ALLOW ME TO POST LINK TO VIDEO: twitter.com/i/status/1240639160148529160 ) [Moderator note : the same video is linked in this post, from 3 days ago[/url] |
Factual correction - they are giving up their salary (which is probably ~5%, 10% max of total annual compensation). This is just table stakes for any C-Suite right now.
If and when they give up stock grants/options or re-distribute that to their broader base of hourly employees, I will be much more impressed. |
Originally Posted by UA-NYC
(Post 32218885)
Factual correction - they are giving up their salary (which is probably ~5%, 10% max of total annual compensation). This is just table stakes for any C-Suite right now.
If and when they give up stock grants/options or re-distribute that to their broader base of hourly employees, I will be much more impressed. |
Originally Posted by TerryK
(Post 32218909)
You are right on the money. :tu: 2018 figures show $13MM total compensation with $1.3MM cash component.
its not anywhere close to everything he gets in 2020 but its still something.... |
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