COVID-19 Impact

Part
01
of three
Part
01

COVID-19 Impact: BMW, Fluor, MyEyeDr.

COVID-19 has had severe impacts on the operations of BMW, Fluor, and MyEyeDr. The pandemic has caused each company to cease operations completely or continue under strict protocols and circumstances.

BMW

  • A meeting was conducted by the CEO of BMW with the media personnel to assess the difficulties the company faces and review its plan to move forward.
  • The COVID-19 pandemic has forced the operators of BMW in the Carolinas to cease operations beyond April 13. This is a major manufacturing plant that employs thousands of people and has billions of investments, but was unable to reopen as planned.
  • The Parkview BMW branch will remain closed until it is deemed safe to re-open. However, emergency services will still be provided to those persons in need.
  • The Beverly Hills BMW has prioritized the protection of its workers and customers by enforcing strict no contact and social distancing policies.
  • BMW expects to lose a significant percentage of profit for 2020 financial year due to the corona virus pandemic. The company plans to invest billions to conduct research to ease the effects of similar events in the future.
  • The company has implemented new car incentives and ownership programs. This was done to assist customers and owners and encourage buyers.
  • In a bid to limit the impact of COVID-19, BMW has been setting dates to reopen its South Carolina plant.

Fluor

  • Fluor has implemented a task force to ensure the safety of their customers and workers. They are currently working on plans to reopen while adhering to the rules and regulations of government entities.
  • Fluor is working to protect its shareholders’ investments amidst the COVID-19 pandemic. This means that they are finding means to allow shareholders to purchase and benefit from existing shares, despite the lowering of stock prices.
  • Demand for oil and natural resources continues to rise amidst the global pandemic. Therefore, to meet the demands of production, assets are predicted to be used during the forecast period.
  • As the company anticipates a possible buyout, Fluor announced its adoption of a poison pill. Alan Boeckmann stated that this is in an effort to "capitalize on recent market volatility."
  • In a press release, Fluor announced its adoption of a 'limited duration stockholders rights agreement.' It also mentioned its plans to distribute dividends of one preferred share purchase right.

MyEyeDr

  • Select locations of MyEyeDr remain open to provide for the essential needs of clients. The necessary precautions have been taken and protocols observed to protect both patients and doctors.
  • Some offices of MyEyeDr have been temporarily closed for the safety of customers. Phone services will be provided for established customers during the time of closure.
  • The company has extended closing, compensated and maintained its doctors, released some of its staff and implement other measures to cut costs.

Research Strategy

The information presented in this research was gathered from several sites. Many of the sites used were direct information issued by the given companies. These websites were given preference because they provided the credibility and reliability of the information presented. For BMW, article summaries were given from the websites BMW Blog, BIZ Journals, Parkview BMW, BMW of Beverly Hills, and NASDAQ. Sources relating to Fluor were Fluor, Thomson Reuters, and Market Watch. Both articles relating to MyEyeDr were taken from MyEyeDr. We ensured that the information provided was most recent (over the past month or two) by filtering the search results, This added to the reliability of the information. A global outlook was taken for the purposes of this research, meaning it was not just limited to the US, but worldwide where applicable. MYEyeDr only three articles were found. For this information, we searched the company's website, the news as well as social media pages. We assume that since MYEyeDr is a small entity, there were not many articles issued about it.


Part
02
of three
Part
02

COVID-19 Impact: Choice Hotels, Extended Stay America, Hilton

All three companies, Choice Hotels, Extended Stay America, and the Hilton have scaled-down or closed operations. They have also chimed in to help medical professionals working on the front line. Hotels in China are now getting ready to welcome guests in May.

Choice Hotels

  • In a press released from the company, Choice Hotels assured its customers that it is doing its part to mitigate the impact of COVID-19. One of which is the EO forgoing his salary for the rest of 2020.
  • Choice Hotels Asia-PAC announced its suite of measures that have been implemented. Some of these include new offers and alternative ways of booking.
  • As a result of hotel closures in Europe, Choice Hotels has shut most of its doors and furlough some employees.
  • The company is joining forces with Serta on the "Stay Home, Send Beds initiative. This project involves donating beds to medical facilities.
  • In early April Choice Hotels offered hotel room discounts to workers of essential services. This was a nationwide offer where over 5000 hotels could be selected.

Extended Stay America

  • Hotel brand, Extended Stay America issued travel information surrounding the COVID-19 pandemic. They outlined their plans to mitigate the risk of the virus on staff and guests.
  • Extended Stay America recently withdrew its full year guidance for 2020. It mentioned that this was the prudent thing to do in light of the COVID-19 pandemic and the reduced demand for travel globally.
  • To date, all Extended Stay America hotels remain open. This is credited to their low cost operating model and the chains unique model of focusing on long-term extended stay guests.
  • There has been increased attention to the Extended Stay brand. The hotel has managed to get funding from two real estate biggest investors, Starwood Capital and Blackstone Group Inc.
  • Extended Stay in Asia, OYO Hotels, has been increasing amidst the corona virus. The brand in Asia has been experiencing an increase in stays.

Hilton

  • The Hilton issued a statement outlining its plans to mitigate the COVID-19 pandemic. Among them is to close operations until the crisis has passed.
  • Since COVID-19, the hotel has implemented a new standard of cleaning its hotels. This includes using Lysol and other chemicals to prepare the rooms from check-in to checkout.
  • Hilton China has been preparing to welcome guests in May. The hotel is offering packages for couples, families, and solo travelers.
  • Hilton has launched Senior Notes which will mature in 2025. The hotel indicated that it intends to use the proceeds for "general corporate use."
  • The company has also donated as much as 1 million rooms to medical professionals working on the front line. This offer extends up to the end of May.

Part
03
of three
Part
03

COVID-19 Impact: Marriott, Signature Flight, Sunrise Senior Living

The approach to coronavirus by Marriott, Signature Flight, and Sunrise Senior Living has been similar with some slight differences. Marriott changed its cancellation policy, implemented a 'Rooms for Responders' initiative, and has already started planning for reopening in May. Signature Flight is still open, has issued cleaning materials to its staff, and has pilots volunteering to transport medical supplies to hospitals.

Marriott

Signature Flight

  • Signature Flights announced in late March 2020, its plans to protect its customers and team members during the COVID-19 pandemic. Plans have been made to provide critical services, suspend some of its services, and adjusted its opening hours.
  • It also mentioned that it continued to be open for business during the crisis.
  • The company has been providing cleaning materials to its staff to help mitigate the spread of the virus. The company continues to provide aviation services to the Santa Barbara area.
  • Signature Flights is having "face-to-face" virtual meetings with its employees. They have also been involved in making masks as well as assisting food banks in the area.
  • Volunteer pilots are providing helped by carrying supplies to hospitals in Colorado. This is being done to help fight the virus in that state.

Sunrise Senior Living

  • In an update provided by Sunrise Senior Living, the company provided some comfort to its clientele. They outlined that the residents and staff are their top priority.
  • In a statement from the Brighton Gardens facility, they have outlined how communication with families will be approached. They also outlined plans to control the infection at the facility.
  • In a statement from the company, Sunrise Senior Living has introduced in-room dining. This is to help residents and families feel more comfortable whilst protecting them from contamination.
  • SVP of Marketing and Communications, Meghan Lublin at the company has outlined how the Sunrise Senior has increased communication with families, leaders, and other organizations. This is a measure to protect the staff and residents.
  • To lessen the financial impact of COVID-19 on seniors, Sunrise Senior Living has cautioned its residents and families on the existence of scammers. Among the targeted areas Medicare and social security numbers.

Research Strategy

It was quite challenging finding information for Signature Flight and Sunrise Senior Living. Therefore, we pulled information from news mentions and updates on the company's websites. Therefore, we included any article geared towards mitigating the risk for the customers, staff, community, or wider state or country. In the case of Marriott Vacations, there was very little said about the brand which could be considered different from Marriott International. Therefore, most sources show that both brands are saying the same thing.
Sources
Sources

From Part 01
From Part 02
From Part 03