Coronavirus: Impact on the hospitality industry
Coronavirus and the hotel sector
Coronavirus has dominated all communication channels today. With news and updates, it has become the major talk of the decade.
The Virus has infected many countries and hit the most important thing; the global economy. Each day we continue to lose billions of dollars due to this pandemic. With over 100,000 deaths and more than 1,000,000 infections, Coronavirus has dismantled major financial inlets.
The biggest victim of this global crisis is the hospitality sector.
Impact of Coronavirus on Hospitality
Many countries have shut down all travel to and from foreign countries due to COVID-19. We have seen travel bans all over the world. Some countries have even banned all movement and imposed mandatory lockdowns. These efforts are driven towards spreading the virus.
The hospitality sector has received the biggest blow in these troubling times. Since people are not traveling as much as they used to do, some hotels have been completely shut down. They are not making enough revenue to sustain them during this time.
Only a few huge hotels have been left standing. And out of these, very few are open to the public. This is because some hotels have now become “hospitals” where coronavirus patients are being treated.
Today traveling has been strongly advised against. The World Health Organization has recommended that the best medicine for this COVID-19 pandemic is staying home. Millions of people have heeded to this advice and have avoided traveling.
Secondly, governments have further complicated travel through strict regulations. Travel industries have also taken the bitter pill and watch as they lose millions every day. For instance, most who had scheduled flights have been forced to cancel them.
Airports have been closed down because they lack sufficient operating revenue. Others have slashed their employees’ salaries in an attempt to stay afloat. In short, it’s a hectic nightmare.
Hotels are meeting places that see large numbers of people interacting with each other daily. They were among the first businesses to be shut down. Today many people nowadays prefer eating and sleeping in their homes.
Some hotels have been turned into quarantine centers. They have been closed off to the public. The remaining ones have had to hike prices to remain operational for the time being.
Some hotels have also experienced a shortage of essential supplies. For example, food and water. Coronavirus has hit all sectors including agriculture. It has made the interaction of farmers and suppliers very tough. This has interfered with the supply chain, and caused the shortage of supplies in these accommodations.
We hope that COVID-19 ends soon so that people return to their normal activity. It is not clear whether this pandemic will end soon but when it does, it is expected that the hospitality sector will be back on track. People will be allowed to move freely, transport will resume and hotels will be filled again.
The economy will boom again and the globe will come back to life.
Everything will go back to the way it was. All we can do right now is stay safe until that happens.