World Panel
Viewpoint13 April 2020

Strategy needs to be ON even when the world is OFF

Hotel Ownership, Development and Management

— 5 experts shared their view

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Strategy needs to be ON even when the world is OFF
This viewpoint was created by
Demian Hodari, Associate Professor of Strategic Management at the Ecole Hôtelière Lausanne (EHL)
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Scott Woroch
Partner and Managing Director, Kadenwood Partners

The longer this lasts -- the lockdown specifically, and then the threat of contracting Covid-19 -- the greater the likelihood that there will be more significant changes in behaviour.  Certainly in the short term, when the recovery does start, large group and convention business will likely be the slowest to recover, as both travellers' willingness to meet in large groups, and corporates' ability financially to support those events will be compromised.  Travelling closer to home -- staycations -- will likely surge, with drive to destinations likely to recover faster than long-haul destinations.  

The recovery and health of the airline industry will be a key contributor to hospitality.  The sooner that access opens, and is increased with greater airlift, the faster the recovery will begin in earnest, particularly to long-haul and international destinations.  Governments will be asked to step up, especially with the flag carriers, to support the recovery of the airline industry.  

Finally, hotel companies that are seen as good corporate citizens -- supporting their employees with financial aid and job reinstatement, and supporting their guests with more generous cancellation and rebooking policies -- will be remembered and rewarded.   

 

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