As my frequent readers know, I have long advocated for hoteliers to view the front desk as a revenue- generating position, not an operational expense. In previous posts I have provided training tips for upselling at registration, converting property-direct voice inquiries, converting those who booked via third parties to booking directly next time, and perhaps most importantly, sourcing leads that can be passed along for follow-up by the hotel sales team.
At the onset of the pandemic, the fall-out was immediate; in the span of a few weeks, hotel lobbies and airport terminals that were once bustling with travelers were left empty. Fear and distrust spread quickly, as did the realization that international travel may be off the table for an extended period of time. In response, hotels have been quick to announce big plans for enhanced cleaning and sanitation programs and policies to help guests feel safe enough to return. Every hotel large and small seems to be promoting new practices to reassure guests. However, hotels face heightened speculation and scrutiny as their cleanliness standards are examined under a microscope of epic proportions.
Do you personally accept the 'New Normal' for the hospitality industry and society as a wholewhich is based on the premise that Covid-19 is a singularly dangerous threat that requires a complete change in our lives, when (as it turns out) it is actually on a par with the common flu and (as it turns out) every other incorrectly declared pandemic? Or do you want to understand what has happened and do whatever is in your power, big or small, to return to the old, fun and life-filled normal that has been snatched from us?
Hotel owners have been made to suffer through these phases at the cruel hands of COVID-19, which at its outset thoroughly destroyed the collective industry, bringing travel to a halt, wrecking revenue and drying up profit. After the preceding years of relative operational success, 2020 was the wakeup call the hotel industry didnt want to hear, but was forced to.
This survey is focused on re-opening strategies for hotels across the globe and what their priorities are during this uncertain time. We look at the data from a global perspective throughout.
COVID-19 hit the travel industry like a tidal wave, and hotels have spent the past several months being tossed around like a cork. Now, for hoteliers, it's time to find the surface and start swimming. Make no mistake, hoteliers will need to adjust to a new normal going forward. But there are ways to power full steam ahead toward profitability. Heres how hotels can succeed in a post-COVID-19 world.
A hotels overall performance is the sum of its parts. Though the bulk of revenue is derived from the renting of rooms, there are other arrows in a hotels quiver that can generate cash flow, such as restaurants, bars, meetings and events, spas, golf, parking, retail and more. Therein lies the rub: COVID-19, for now, has all but vanquished these ancillary revenue streams, a blow especially to luxury and full-service hotels that typically offer these services.
COVID-19 dealt the global hospitality industry a vicious blow. A Chuck Norris roundhouse kick combined with a Mike Tyson uppercut that left it immobile. The scores of hotel closures and staggering number of job losses are evidence of the pandemics pernicious impact on the industry. An overwhelming number of hotels ha
The vertiginous drop in global hotel revenue and profit performance depicted in March data, continued its free fall in April, marked by dramatic year-over-year decreases across the operating spectrum, according to data from HotStats. The growing chasm in YOY comparison suggests that month-to-month performance measurement may be more reliable in tracking a rebound during the COVID-19 era, signs of which are slowly emerging out of China and suggestive that other global pockets are a month out from an eventual upswing.
COVID-19 has made breaking-even more tolerable than the alternative – going broke. It's not the hand hoteliers wanted, but it's the hand they've been dealt, forcing them to approximate at what occupancy rate they can operate their hotel such that cost and revenue are equal.