The global hospitality industry has been through every perceivable calamity over the past decades: earthquakes, tsunamis, tornados, major floods, terrorist attracts like 9/11, SARS, global recessions, epidemics and pandemics like SARS, MERSA, ZIKA, swine flu and now COVID-19.

After each crisis the industry came roaring back and I believe it will recover very quickly after the current COVID-19 crisis and prosper like never before.

Naturally, each region and destination has had and will have its own decline and rebound curves as far as hotel occupancy, ADRs and RevPARs are concerned. Recovery post COVID-19 will also be unique to each region, destination and property and will greatly depend on a) the underlying economic conditions in each region and destination, b) the preparedness of each property for the post-crisis period, and c) the lingering impact of short term tactics employed in each market during the crisis.

This down time of low hotel occupancies or property closures is the perfect time for POST-CRISIS planning, revenue optimization action plan development, product and marketing campaign ideations.

The question to the Revenue Management community is, which specific action-items SHOULD be included in a hotelier's Post-Crisis Top Three Revenue Management Action Plan? In addition, please suggest one creative, OUTSIDE-THE BOX idea... something we may not have seen yet in revenue management. Just an idea... big or small.

Top 3 for me:

  1. Get your house in order and reset up your distribution and data set up. Now is the time. 
  2. Stop being fascinated with last years pacing and trend. the new world order is short trends.
  3. Think macro, not micro as dominating industry trends.

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