Restarting Hotels and Resorts after massive Pandemic Losses
The hospitality industry has been one of the worst affected because of covid-19. Strategies to flatten the covid-19 curve like community lockdowns, social distancing, stay-at-home orders, travel restrictions have closed down many hospitality businesses and significantly decreased the demand. 2020 has been the worst year for hotel occupancy. It has been worse than the Great Depression years.
Many hotels have been surviving by serving as quarantine centers in key markets, with some of them providing rooms for the “Vande Bharat Mission”.
The Worst Is Far from over for the Industry
Unfortunately, with the second wave of Covid with India being the hardest hit, the worst is far from over. After the first wave, the reopening process has started slowly. The authorities had started to ease restrictions, allowing dine-in restaurants to reopen at a reduced capacity with strict social distancing guidelines, and gradually reduce restrictions on domestic and international travel.
Contact Ideazfirst for restructuring your property inventory of rooms and banquets to align with the changing demands and requirements of corporates and individual clients.
The focus will be on reducing costs, and improving revenues to make it sustainable.