World Panel
Viewpoint 4 March 2020

What is your take on the coronavirus and its impact on our industry?

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Dimitrios Diamantis
Dean of Graduate Studies at Les Roches Global Hospitality Education

The Coronavirus (COVID-19) has been one of the most unpredictable and unknown virus. The statistics on human costs are still raising, as we speak, and its impact has been expressed in terms of economic, social and environmental consequences. In the short term, the hospitality and tourism industry will be on a "pause" mode. Through the last 20 years, our industry is very much variable to external threats but what makes this situation different is the "unknown". Destinations have been affected, hotels have slowed down their reservation while the distribution channels have illustrated partial inactivity. 

For the next few months, the situation in terms of global travel will be in a very much "slow mode".  Such mode will allow the stakeholders of our sector to reflect in its current products and prepare for recovery strategies. I am hoping that such situation will not have a medium and long term impact on our industry. Perhaps it will allow a better recovery action to take place and at the same time, it will assist us to become more resilient to any future crisis situations.

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