Faye Chiu

Second Life has every right to reach out to businesses figuring out new ways to work remotely and to better engage potential customers, but there’s a lot of competition right now.

This week in hospitality news, Marriott CEO Arne Sorenson demonstrates his true leadership with a heartfelt yet candid message to employees outlining his coronavirus crisis plan. Like Marriott and other hotel giants, short-term rental companies have not been immune to the fallout, and they face mounting criticism over widely differing cancellation and refund policies.

In digital news this week, Expedia Vice Chair Peter Kern sought to rally his workforce by saying it was time to focus and help the company's travel partners suffering in the wake of coronavirus. Plus, Trip.com Group said it would likely see a 50 percent drop in first quarter revenue but offered some hope that travel was slowly recovering in China.

In airline news this week, it's important to remember that airlines are not ordinary companies, more like utilities in many ways with a public trust responsibility. So it's time to lose the hubris when the coronavirus crisis calms down. What's more, loyalty programs are one of the biggest assets airlines have, and it's an option for them to leverage those programs for much-needed cash.

Event planners eager to avoid bidding adieu to their events have been optimistically postponing them to the summer months. With the coronavirus now showing little signs of abating by May or June, however, the industry is looking to the fourth quarter for recovery.

There is no turning back on the transformation of low-budget hotels from the “uncategorized” class into a legitimate segment of the global hotel industry. Future technology and the rise of Gen Z will further fuel innovation and change in the design of economy accommodations — especially in Asia.

In digital news this week, Airbnb, Expedia, Tripadvisor, and others reached an unprecedented agreement with the European Union to share data. Will it shift the competitive landscape? Plus, coronavirus has wreaked havoc on global currency markets, which Latin American online travel powerhouse Despegar said could present big challenges.

In aviation news this week, an already shaky Flybe went out of business. The regional UK airline said coronavirus delivered the fatal blow to its operations. Plus, nearly 90 percent of U.S. travelers have yet to cancel travel plans, according to a survey from Skift Research. Also, a new digital format Skift Airline Weekly launched.

This week in hospitality news, based on coronavirus impact, particularly from China, Oyo's valuation could plunge to $6 billion based on Skift Research estimates. Plus, Best Western stands out among its hotel peers as a nonprofit with a unique membership model for its owners. Is that holding it back from growth?

Best Western's unique longstanding model gives much power to its member hotels. But as changes quickly alter the industry's landscape, can the chain still compete effectively under the old ways?