The Great Reopening of the Global Hospitality Industry
The hospitality industry and the broader global tourism industry are key components to global economic and social recovery. The Hospitality industry faces many significant challenges both near term and longer term.
The large operators with strong balance sheets and solid liquidity positions will be the survivors and likely consolidators within the industry.
Smaller operators will likely not survive a prolonged period of low occupancy, higher costs and losses. Niche boutique hotels offering health and wellness focused accommodations and experiences will become increasingly in demand, especially among Millennials. In the longer term, the global hospitality community will recover and likely in a renewed and innovative form. Indeed, history has shown that our global community has dealt with far greater pandemics, wars and other challenges then currently being experienced.