The Uncertainty ¶New Normal
In this article, Michael Levie discusses the challenges faced by the hospitality industry in the wake of the COVID-19 pandemic and how it has resulted in uncertainty becoming the new normal. The article highlights how the pandemic has resulted in a lack of staff and antiquated technology that has impacted the ability to sell to capacity. The article suggests that the only way to break this new mold of uncertainty is to differentiate the product...
Uncertainty has unfortunately become the new normal in many industries, especially the hospitality business.
The Covid impact, socially and financially, had already hit us all extremely hard, when it was immediately followed by the Russian war against Ukraine. In turn, this was instantly followed by rising inflation and interest rates. After OTA’s becoming part of the booking landscape and Airbnb reducing hotel bookings, we now see the rocket-like rise of apart-hotels, e.g. brands such as Sonder or Edyn. For sure, there is more disruption heading our way…
The Hotel Yearbook 2023 - Annual Edition
As we have embarked on 2023, it is evident that the hotel industry has made a robust recovery from the
pandemic.
Occupancy and pricing have returned to their pre-pandemic levels. However, the future of our
industry is contingent
on how nimble the hospitality sector can be in adapting to ongoing innovation, changing market
conditions, evolving
consumer preferences, new staffing challenges, and sustainability realities. These uncertainties are
the new normal
in an unpredictable world.