As one of the world’s oldest industries, hospitality has experienced more than its fair share of global disasters. It weathered both the Great Depression and Recession, survived World War II and even overcame the sharp travel decline in the aftermath of 9/11.
I don’t believe anything, however, can compare to the tragedies we’re witnessing from the current COVID-19 pandemic.
For an industry that’s usually so full of passion, inspiration and light, one glance at my LinkedIn feed reveals a grim reality that few of us ever could have imagined. As of early April, nearly 80% of hotel rooms in the U.S. are empty, most hoteliers are estimating revenue losses of more than 50% for the first half of 2020 and unprecedented layoffs are leaving our colleagues and friends without jobs at alarming rates (70% of direct hotel employees have already been laid off or furloughed). The impact on small businesses is equally dire — as an agency that specifically serves the hospitality industry, we are working harder than ever to stay afloat. Simply put, it’s the most devastating crisis that has ever affected the travel and hospitality space.
That said, never have I been so confident that hoteliers and travel professionals will rise to the occasion. By working together, supporting each other, and making proactive and informed decisions, I am certain that we will not only survive this crisis, but come out even stronger on the other side.
At a time when we could all use some good news, here are five reasons this too shall pass.
1. Upon Recovery, Travel Demand Will Likely Be Higher Than Ever
While nothing is ever guaranteed, it’s hard to imagine a post-pandemic world where people are not desperate to travel again. They’ve been quarantined in their homes for months and have likely had to cancel at least one, if not several, of their planned trips during that time. Not to mention many people are low on morale and looking for ways to find inspiration and joy.
