In the post-COVID-19 world, the hospitality industry has had to reevaluate and adjust how it does business. From shifting market segments, to redeploying sales teams, to addressing operational challenges, hoteliers have been forced to evolve as they continue the path to recovery. Our Hotel Performance Analysis can help.
In light of the coronavirus (COVID-19) pandemic and the effect it has had on lending and new development in the hospitality industry, it may be beneficial to review the basics and walk through the investment life cycle of a hospitality asset. This guide is intended to be a helpful reference for a seasoned hospitality professional, a student looking to break into the industry, and anyone in between.
Most hotels have implemented quick cost-saving changes to their largest cost components i.e. compensation and energy costs as they try to stay afloat during the pandemic. However, the industry needs to take a step further by evaluating and scrutinizing their cost structures even deeper to make some radical changes. Are we ready & is it time?
Despite suffering the COVID-19 pandemic alongside the traditional hotel sector, the serviced apartment sector has been weathering the storm better owing to a few key factors that show a stronger resilience to a sudden and fundamental shift in demand. In this article, we examine recent innovations in the sector, give a performance update and explore the serviced apartment pipeline for Europe.