Impact of COVID-19 on the Global Lodging industry: Hot Topic Brief - Issue 1
COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. The travel & tourism sector is suffering significant disruption and the lodging industry is very much impacted.
- Major players in the lodging industry are using their respective loyalty schemes in order to create value for their customer base and increase demand during the COVID-19 pandemic, instead of advertising future room rates at discounted prices. This is a smart strategy, as it means they do not have to give up pricing power.
- Frequent travellers act as the backbone of any major lodging company’s customer base. This customer type has now had to desert the travel companies that they are usually so loyal towards.
- To avoid losing pricing power and risk lengthening the post-COVID-19 recovery period, some hotel brands are granting bonus nights to loyal customers.
- This report provides insight into the current state of play, offers a look at potential future scenarios and assesses the actions that lodging operators can take to mitigate the impact of COVID-19.
Reasons to Buy
- Gain an overview of the current global COVID-19 situation
- Understand the impact that COVID-19 is having on the industry
- Explore future industry scenarios
- Assess possible mitigating actions
- Compare key industry players' actions
Current COVID-19 Situation
Actions to mitigate the impact of COVID-19