CEOs hope for a strong 2021 as crisis continues

With vaccines and more efficient testing on the horizon, the coronavirus might not go away completely, but it can be handled and business will come back, hotel industry CEOs said on a panel as part of the online NYU International Hospitality Industry Investment Conference.

GLOBAL REPORT—While the world will likely be dealing with the coronavirus for a while, hotel industry CEOs believe the health crisis will become more manageable and travel will start to return sometime in 2021.

During the "CEOs check in: The new norm/an industry update" panel held as part of a webinar series in conjunction with the NYU International Hospitality Industry Investment Conference, Chris Nassetta,* president and CEO of Hilton, said the industry might not change as drastically as some think as a result of the pandemic.

Over the past nine months, more data has been uncovered and there's a better understanding of the virus, he said.

"We are likely managing some form of this like we manage the flu (going forward)," he said. "We are going to have to figure out using the data, with a real understanding of what mortality rates are, how to manage it."