While some industries saw their profits rise during the COWID 19 pandemic, the hotel industry was hit hard. Therefore, rebuilding this industry will be costly, time-consuming, and turbulent to say the least.
Current statistics
Both small and large businesses were affected by the loss of revenue (over 50%), while about 38% of employees had to resign. Those left behind are fighting to keep their hours and wages.
At one point, occupancy fell below a sustainable threshold of 35% (in April it was 24.5%). This shows how serious the situation is. More statistics can be found at the restaurant supply website Kitchenall
Recoveries
The owners are aware of the problems with the reopening. It will take up to a year and a lot of money to get hotels and restaurants fully operational again. Their main concern is that lifting restrictions will not guarantee customer return.
More than 50 percent are not ready to return to travel and eat out, about 17 percent expect national access, and 80 percent of customers plan to continue ordering deliveries. This begs the question: is it worth investing in reopening?
Modifications required
One thing is for sure, the way hospitality was practiced is a concept from the past. To move forward, some changes need to be made. More importantly, confidence in the hands-free system must increase. The use of contactless payments and contactless devices provides the necessary security measures (in addition to masks, gloves, and distance) and minimizes contact between people. It also means additional costs, which will be a problem for some companies.
This content is brought to you by the FingerLakes1.com Team. Support our mission by visiting www.patreon.com/fl1 or learn how you send us your local content here.