Name: Airbnb suspends Beijing bookings through end of April due to coronavirus
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Airbnb suspends Beijing bookings through end of April due to coronavirus

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USA TODAYAirbnb has blocked bookings in Beijing through the end of April, and Hilton has closed about 150 of its hotels in China amid the growing plaguing the country and the rest of the world&nbsp;— and its impact on the hotel and home rental industry may be just beginning. In the U.S. specifically, it could cost the country&nbsp;billions of dollars and millions of hotel room stays.Hotels in different parts of the world beyond China, ,&nbsp;are already starting to see&nbsp;dips in occupancy due to the coronavirus, though&nbsp;it will take months before the industry can assess the macro effects."This is not a regional phenomenon;&nbsp;this is a global phenomenon," Jan Freitag, a&nbsp;senior vice president with data research firm STR,&nbsp;told USA TODAY.Airbnb is suspending bookings in Beijing with check-in dates from Feb. 7 to April 30, following government guidance to companies in the short-term rental industry. Guests whose reservations get canceled will be refunded.&nbsp;Bookings have also been suspended elsewhere in China: for Wuxi until Feb. 20;&nbsp;Yongchuan District (in Chongqing) until Feb. 29; and Wuhan until March 31.Hilton is closing&nbsp;150 hotels, which&nbsp;translates to about 33,000 rooms,&nbsp;Christopher Nassetta, president and CEO of Hilton, said on an investor call Tuesday. While the company is still operating business as usual in some parts of the country,&nbsp;the situation is&nbsp;evolving. At this point it looks like the chain&nbsp;could lose $25 to $50 million in&nbsp;EBIDTA (a financial term meaning earnings before interest, depreciation, taxes and amortization), over six to 12 months, including outbreak and recovery period. For context: China is 2.7% of the company's overall EBIDTA.&nbsp;The &nbsp;with more than 45,000 people infected,&nbsp;has left and led as far out as April."It goes without saying that the safety and well-being of our team members and our guests remain a paramount priority as we continue to carefully monitor the situation," Nassetta told investors. "We're working with local governments and health authorities globally to best support our operations and our communities in impacted areas." Elsewhere in Asia: The company has yet to&nbsp;see cancellations for the Tokyo Olympics.Hilton's issues reflect a larger problem for hotels in China. Hotel occupancy declined 75% in mainland China between Jan. 14 to Jan. 26 amid the&nbsp;coronavirus outbreak, according to&nbsp;preliminary data from . Mainland China's hotel occupancy was at 70% on Jan. 14, then fell to 17% by Jan. 26 —&nbsp;eight out of 10 rooms were unoccupied on average. Around that time, had quarantined 20 million people across three cities.&nbsp;Another chain, Wyndham Hotels &amp; Resorts,&nbsp;has closed about 70% of its hotels in the country.It's not just China that needs to be concerned though.&nbsp;Tourism Economics predicts a possible this year, or a drop of $5.8 billion in visitor spending and 4.6 million hotel room nights sold. China is the third-largest source of overseas travel to the U.S., according to the . California and New York took in the most overnight visitors from China last year&nbsp;(1.7 million and 1.2 million, respectively).This 28% visitors drop figure is roughly the same as what happened during the , where the U.S. saw a 30% dip in visits from China, though tourism from China to the U.S. bounced back in 2004.Jesper Palmqvist, STR’s Asia Pacific area director, said in a news release that comparing this outbreak to SARS might be premature given the differences in the market today."Dependence on smartphone technology, the widespread use of social media, significant differences in hotel inventory, greater volume in international arrivals to Mainland China and overall economic conditions make it difficult to use that previous outbreak as an indicator this time around," Palmqvist explained.As of now in the U.S., anecdotally hotel operators may be seeing an impact, but it's not something STR has seen yet —&nbsp;not that it won't happen. Three months from now will be a better time to look at market-by-market impacts.Industry associations suggest concerned consumers look to health data and top experts for their guidance during this time.&nbsp;It's best to check with the individual hotel or travel agent you booked with to find out about your trip options.That said: Marriott is monitoring statements from the Centers for Disease Control and Prevention and World Health Organization as well as adhering to local health departments, according to a statement on&nbsp;its . It is waiving cancellation fees for hotel stays through Feb. 29 for guests staying at&nbsp;Mainland China, Hong Kong SAR, Macau SAR, and Taiwan, as well as for those traveling elsewhere from&nbsp;Mainland China, Hong Kong SAR, Macau SAR, and Taiwan.Best Western Hotels &amp; Resorts has 52 properties in China, and&nbsp;about 65%&nbsp;of them are closed.Hyatt is waiving cancellation fees through Feb. 29 for travelers from Greater China staying at Hyatt hotels across the world, as well as for guests with reservations in greater China. Travelers who booked through travel agents or third-parties should contact them directly.The isn't taking any new bookings until Feb. 15.&nbsp;For cruises:Ask the Captain:Featured Weekly Ad

USA TODAYAirbnb has blocked bookings in Beijing through the end of April, and Hilton has closed about 150 of its hotels in China amid the growing plaguing the country and the rest of the world&nbsp;— and its impact on the hotel and home rental industry may be just beginning. In the U.S. specifically, it could cost the country&nbsp;billions of dollars and millions of hotel room stays.Hotels in different parts of the world beyond China, ,&nbsp;are already starting to see&nbsp;dips in occupancy due to the coronavirus, though&nbsp;it will take months before the industry can assess the macro...

Airbnb suspends Beijing bookings through end of April due to coronavirus

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