The World Health Organization (WHO) issued the first situation report on January 21, 2020, noting 282 reported cases with 3 deaths. 91.5% of these cases were found in the Hubei Province in China (World Health Organization, 2020).
The Indian hospitality sector is perhaps undergoing one of its worst-ever crises in living memory and is putting every effort to deal with this unprecedented invasion.Based on our discussions with key industry stakeholders, we understand that as of 30th of March 2020, 57% of 787 branded hotels in the country have become non-operational, a never before event in the history of the Indian hotel industry.
One way to break down the top three revenue strategies is to look at what you need to be doing now, what scenarios you need to plan for in the short term, and then extrapolating how these scenarios may then impact the mid and longer term, on the understanding that there will never be a specific end date on this, and many new factors we need to come to terms with.
"I'd like to think that we will get a one-stop-shop hotel tech solution one day. But hey, let's face it; I did not happen the last 25+ years and I have my doubt that one will arrive in the coming years."
Due to the recent unprecedented event, the hospitality industry along with all other industries around the world has been damaged by COVID-19. Which results in a world economic crisis with domestic & international travels rapidly slowing, occupancy falling and hotels closing.
Life across the United States has changed dramatically in the last four weeks. In Boston, and almost every other city in the country, hotel owners and operators have been forced to make the difficult decision to close temporarily while the country attempts to slow and contain the spread of COVID-19.
This too shall pass. However bad the COVID-19 situation gets that we are currently in the midst of fighting, business will eventually return to normal, hopefully sooner rather than later. But the fear instilled in people's minds from this panic will linger for long after the all clear is given as part of a collective post-pandemic social anxiety.
I could have titled this article "Box of Donuts Research," but you would have no idea what that means. I'll explain in a moment.
If we've learned anything in the past few months, it is that unexpected things can happen to anyone at any time. No one is immune to system failures, economic recessions or indeed—global pandemics. My prediction for the coming months and years is that survival and success will ultimately be determined not by what has happened to us, but rather by how we respond.
COVID-19 hit the economy so hard that it could take three years for the U.S. to recover.
"As we won't be able to rely on historic data and previous trends for a while, it will be increasingly important to develop a greater understanding of demand-, booking- and cancellation patterns moving forward."
Half of all global tourism arrivals historically come to Europe; and, within Europe, Spain enjoys a disproportionate share of this visitation, with more than 80 million visiting the country yearly. Whilst the COVID-19 pandemic ravages Europe and takes a particularly heavy toll in Spain, it is important to evaluate how the reliance of this country on international visitation might shape the recovery of its two main urban markets once the pandemic subsides.
