{"id":36275,"date":"2020-12-08T00:53:45","date_gmt":"2020-12-08T00:53:45","guid":{"rendered":"https:\/\/www.vailvalleypartnership.com\/?p=36275"},"modified":"2020-12-10T16:32:17","modified_gmt":"2020-12-10T16:32:17","slug":"insights-collective-weekly-briefing-15","status":"publish","type":"post","link":"https:\/\/www.vailvalleypartnership.com\/2020\/12\/insights-collective-weekly-briefing-15\/","title":{"rendered":"Insights Collective weekly briefing"},"content":{"rendered":"

VIRUS<\/span>\u00a0<\/span><\/h2>\n

_______________________________________________________<\/span>\u00a0<\/span><\/p>\n

Moderna is following closely behind Pfizer as the second company to seek emergency FDA approval for a Covid-19 vaccine.<\/span><\/b>\u00a0 The Moderna vaccine had shown a 94.1% efficacy rate in a study of 30,000 people and is 100% effective at preventing severe disease from the coronavirus. The company expects to produce 20 million doses by the end of 2020 and as many as 1 billion by the end of 2021. Source: <\/span>NY Times<\/span><\/a>\u00a0<\/span>\u00a0<\/span><\/p>\n

And why is that important [Insights Collective]<\/span><\/b> \u2026<\/span><\/b> A b<\/span>usiness travel intention<\/span> study conducted in November\u00a0<\/span>tells us that availability of a vaccine continues to be the number one factor preventing business travel from returning to pre-pandemic levels.<\/span> Additionally,<\/span> just<\/span> 39 percent of respondents said they would travel domestically in the next 90 days<\/span><\/b> if asked by their company, a drop from 53 percent in October. <\/span><\/b>B<\/span>usiness travel data, <\/span>here<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

RE<\/span>OPENING<\/span>\u00a0<\/span><\/h2>\n

_______________________________________________________<\/span>\u00a0<\/span><\/p>\n

Four airlines, United, JSX, Allegiant and Southwest, will be adding new service at Reno-Tahoe International (RNO) in the next few months.<\/span><\/b> To prepare, the facility has added 1,000 social distancing stickers, required face coverings on everyone in the terminal and installed plexiglass shielding at every counter. The new flights complement five previously announced destinations<\/span>, including a Delta flight to <\/span>Los Angeles (LAX) and Atlanta, <\/span>an <\/span>Alaska<\/span>Airlines flight <\/span>to Palm Springs and LAX, and JSX\u2019s <\/span>flight <\/span>to Burbank. Source: <\/span>Carson Now<\/span><\/a>\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

And why is that important [Insights <\/span><\/b>Collective] \u2026<\/span><\/b> Forward planning is in full swing, with airlines and other businesses fully expecting pent-up demand to release as a vaccine is introduced (and widely adopted).<\/span> While some businesses and industries are still struggling for survival, others are making plans to grow market share in the year ahead.<\/span><\/b>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

ECONOMY<\/span>\u00a0<\/span><\/h2>\n

_______________________________________________________<\/span>\u00a0<\/span><\/p>\n

Zoom reported $777.2 million in revenue during its third quarter, well over 4x its revenue from the same quarter last year.<\/span><\/b> That\u2019s now two quarters in a row that Zoom\u2019s revenue has quadrupled. Zoom expects to quadruple its revenue year over year once again in the fourth quarter.<\/span> Source: <\/span>The Verge<\/span><\/a>\u00a0<\/span><\/p>\n

And why is that important [Insights Collective] \u2026<\/span><\/b> The immense success of Zoom should come as no surprise. The platform\u00a0became the go-to videoconferencing app at the start of the pandemic, and it\u2019s managed to hold on to that spot even as other services \u2014 like Google Meet, Slack, and Microsoft Teams \u2014 have increasingly vied for attention. <\/span>The bigger test will come down the road, when <\/span>Zoom may have to contend with a return to in-person work that could eat into its customers\u2019 reliance on videoconferencing.<\/span><\/b>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

LODGING\u00a0<\/span>\u00a0<\/span><\/h2>\n

_______________________________________________________<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

G<\/span><\/b>lobal <\/span><\/b>revenue from the <\/span><\/b>vacation rental industry <\/span><\/b>is expected to plunge by $35 billion in 2020, a 42% drop year-over-year.<\/span><\/b> Data show the global vacation rental industry is expected to witness a recovery in 2021, with revenues growing by 36.7% to $66.9 billion, still $17 billion under 2019 levels. In the next three years, this figure is forecast to rise to $88.4 billion.<\/span> Source: eTurboNews<\/a><\/span><\/p>\n

And why is that imp<\/span><\/b>ortant [Insights Collective] \u2026<\/span><\/b> In global comparison, the United States represents the world\u2019s largest vacation rental market, expected to generate $9.5 billion in revenue in 2020, a 45% plunge in a year. To fight the spread of<\/span> the virus,\u00a0<\/span>some US states placed restrictions on short-term rentals, which caused massive complaints from the companies operating in the market.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

NEW REALITIES<\/span>\u00a0<\/span><\/h2>\n

_______________________________________________________<\/span>\u00a0<\/span><\/p>\n

Fort Collins\u2019 visitor bureau launched an online store for 40 local businesses.\u00a0<\/span><\/b> The idea for the platform, Visit Fort Collins Marketplace, was formed early during the pandemic as shutdowns overwhelmed the destination. <\/span>Officials in Fort Collins <\/span>spent 13 weeks developing the site and bringing on merchants. Source: <\/span>Loveland Reporter Herald<\/span><\/a>\u00a0<\/span>\u00a0<\/span><\/p>\n

And why is that important [Insights Collective] \u2026 <\/span><\/b>Last week we highlighted a similar story<\/span> from <\/span>Manitou Springs and<\/span> placed it in the Economy section.\u00a0 Now we see a trend taking root: <\/span>Destination Organizations turning their attention inward, towards <\/span><\/b>businesses that serve the visitor economy, and ensuring they are set up for success. <\/span><\/b>The slow shift away from positioning and branding continues, and while those are important tasks of Destination Organizations \u2013 clearly so are\u00a0<\/span>providing the tools and resources local businesses need to prosper.\u00a0<\/span>
\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

VIRUS\u00a0 _______________________________________________________\u00a0 Moderna is following closely behind Pfizer as the second company to seek emergency FDA approval for a Covid-19…
Read More<\/a><\/p>\n","protected":false},"author":5,"featured_media":34698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[87],"tags":[2633],"class_list":["post-36275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-community-press-releases","tag-insights-collective-weekly-briefing"],"acf":[],"yoast_head":"\nInsights Collective weekly briefing | Vail Valley Partnership<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vailvalleypartnership.com\/2020\/12\/insights-collective-weekly-briefing-15\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insights Collective weekly briefing | Vail Valley Partnership\" \/>\n<meta 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