HOTEL occupancy has always been a good barometer of a country’s economic status. The past weeks have seen hotel occupancy plummet to shocking levels.
This pandemic, and the following recession, will bring great uncertainty to the continuity of jobs and hotels. Today, most hotels are empty except for those operating as quarantine centres and those with long-staying guests. The question now is, what is next for hoteliers post Covid-19?
Drastic measures have to be taken for hotels to survive. For now, revenue maximisation is not in the equation; cost-cutting exercises are probably the only available option.
This is indeed a wake-up call for many hoteliers, be they owners or management companies. They must change the way they operate in order to move forward post Covid-19.