The Current COVID-19 crisis has put incredible strains on hotel owners, operators and managers. Steps to alleviate the current pain points are well noted - fee reductions/deferrals, closing of properties, reduced staffing and services - but these are likely not sustainable over a long period.
It is completely understandable that most hospitality industry companies are focused on short-term survival right now. World, business and industry conditions require such attention. However, as time passes and we settle into our routines and manage to put out our most pressing fires, it will soon become time for the industry's leaders to look past the clouds of uncertainty hanging over us and take the necessary time to consider how firms need to position themselves once the pandemic crisis has abated and the world returns to normal.
Based on survey results, the panel is bullish (median 67.5%) on the prospect of the 2020 transaction market beating 2019's tally of $62 billion. Interestingly, nearly 1/3 of the panel is 100% confident of this! On the other hand, the panel's outlook on U.
Hospitality Net's World Panel is a thought-leadership platform where hospitality-industry opinion leaders share insights, views, ideas and reactions on important issues and events currently affecting the hospitality business. Each panel is made up of a select group of experts, and industry leaders who, by invitation, contribute succinct commentary on viewpoints which are suggested by panel-champs.