Hotels across the country are now virtually closed for the last one month or so with essentially zero revenues while having to bear with mounting fixed costs.
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In 2020 and beyond, we can expect to see hospitality companies implementing more innovative practices to benefit people and the planet as well as profit, while also ensuring that guests are aware of their good deeds.
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There will be examples of leadership at all levels, especially at the national level, of great foresight and resolve, the courage to take tough decisions and unprecedented strength of leaders that resulted in literally saving lives, as well as unfortunately those leaders that misread and misinterpreted the situation, leaders who were not decisive nor prompt in taking action, thereby resulting in loss of many lives.
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To capture the sentiments of the tourism sector ‘Lastclues.com’, a marketplace for unique travel activities, conducted an online survey amongst the leading travel service providers. As per the survey 93% of the service providers believe that the current market scenario is hampering the travel industry.
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The importance of tourism can be gauged from the fact that it accounts for around 10% of global gross domestic product (GDP) and is directly responsible for generating one in 10 of the world’s jobs.
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The investors and the government should support the business and show solidarity. It's going to be a new beginning and the crisis is big and the industry will need support and have to be together and only then will we win the economic battle.
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SPEAKING ABOUT the impact COVID-19 has had in the hospitality business, Souvagya Mohapatra, Executive Director, Mayfair Hotels & Resorts Ltd told BW HOTELIER that, "If the lockdown is further extended, many businesses will face an existential threat which will have wide adverse ramifications on the overall tourism landscape of the country."
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For obvious reasons, the industry is going to undergo some temporary and some very very permanent changes.
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The disruptions that it has caused are across the entire value chain i.e. Airlines, Hotels, Travel Agents, Tour Operators, Restaurants, Rail Networks, Roadways, Water Transport and Cruises, Taxis, Auto-rickshaws and a slew of other indirect providers.
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Nowadays clubhouses have become a mandatory element of luxury housing projects, which provide a plethora of amenities at a place and saves time.
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