Hospitality Industry after the Coronavirus Pandemic
guest post from my friend John,
The Coronavirus pandemic affected all the major consumer industries across the globe; as a result, many big corporations and small companies went out of business. The travel industry suffered the most due to the severe lockdown situation, which stretched throughout the year 2020. People were hesitant to leave home, thus leaving the city or country was typically out of the question. Government restrictions and airport quarantine procedures further discouraged everyone from travelling, unless it was a matter of life and death (or close). The hospitality industry is a counterpart of the travel industry, therefore, it was no surprise that Covid-19 became its downfall as well.
Businesses going Bankrupt
The suspension of flights and other means of travelling meant that hotels lost a significant percentage of their clientele. Many luxury hotels that solely depended on foreign tourists for generating revenue were driven to zero income in a matter of days. A large number of hotels had no choice but to shut down, while the others had to take extreme measures to barely survive. The rate of business bankruptcy filings in 2020 were overwhelming because few organizations have a contingency plan to cope with long-term financial shortcomings.
The Impact of Covid-19 Vaccines
The beginning of the year 2021 was a beacon of optimism for business owners in the hospitality industry. Following the introduction of Covid-19 vaccines, there are high hopes of overcoming the pandemic and preventing the next wave of coronavirus. Several travel bans have been lifted, though we are still not completely out of the danger zone. More people have started travelling for the sake of work and business, so hotel occupancy rates are improving gradually.
Nevertheless, there are still several controversies and concerns surrounding the Covid-19 vaccines. Normally, vaccines are developed after research, experimentation, and trials that last several years; hence, people are suspicious about the safety and effectiveness of prototypes created and approved within a year.
Economy vs. Luxury
The economy sector of travelling and hospitality is recovering steadily, as compared to the luxury sector. Leisurely trips, tourism, and vacationing are still rare, but we will get there eventually. Predictions are that the hospitality industry will regain pre-pandemic economic vigor by the year 2023. Hotel lodging businesses can accelerate the recovery of client base by demonstrating excellent crisis management. The positive outcome of the coronavirus pandemic is that emphasis on cleanliness and digitization has increased tremendously.
Sanitization and Digitization
Hospitality businesses that incorporate effective housekeeping and flawless sanitation practices are likely to bounce back quickly. Digital devices that allow contactless check-in, transactions, and customer care have become a necessity. The sophisticated technology enabling contact-free operations naturally requires a substantial investment; hotels that cannot keep up are going to have a hard time fulfilling customer expectations and preventing Chapter 7 lawsuits.
Digital platforms and online solutions have evolved from ‘unreal’ to ‘mainstream’ in the last decade or so. The pandemic has simply fast-tracked the transition to contactless interaction, trade, and relations. Although digital systems are costly to begin with and require training to get accustomed to, they save a lot of time and money in the long run. Business owners in the hospitality industry can multiply their financial profits in no time, once they have fully adhered to digitization.
Healthy Food and exercises
More priority is given to healthy food and exercise in recent time as they boost your immunity system naturally and provides your body with different nutrients (chemical substance present in the food). Catering establishments should now design their menu effectively by giving more emphasis on fresh greens items rather than processed, preserved food. This will be also a huge challenge to old-fashioned cooks and restaurant manager.
Thank you John!!
Author Bio
John Adams is a technology enthusiast, always looking to explore the current trends and releases. He also loves travelling and sharing personal experiences through writing. Blogging makes him happy, and he is always open to constructive criticism. You can reach him at <healthnic1@gmail.com>
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