Hot Topic Brief: Impact of COVID-19 on the global lodging industry
- Pages: 18
- Published: May 2020
- Report Code: GDTT-CV-LDG
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.
– Italy and Spain are among a number of European countries that are further easing their lockdown restrictions from Monday (May 18). Most businesses in Italy, including bars and hairdressers, will be free to reopen after more than two months of nationwide lockdown measures. Spain is set to relax its restrictions in most of the country, with groups of up to 10 people free to meet. The measures follow consistent drops in the number of daily recorded deaths. On Sunday, Italy recorded the fewest daily deaths since it entered lockdown in March.
– This recent news makes for positive reading for the European lodging industry. In past months, many predicted that there may be no summer season at all, which would have forced many smaller operators in to insolvency. Domestic tourism flows in Europe may start to pick up with this recent announcement and as governments in the likes of Italy have stated that they plan to allow travel in and out of the country in the next month, small scale lodging providers may be able to boost revenues in July, August and September, thus increasing the likelihood of them being able to stay afloat.
– Countries that are imposing a two week quarantine on inbound travelers may harm the occupancy rates of their lodging providers. Tourists may see little point of traveling to a destination, then not being able to explore the surrounding areas. Travelers arriving in Spain from abroad since May 15 must undertake a two-week quarantine, with new arrivals allowed out only to buy food or medicine, seek medical attention, or on emergency grounds. The quarantine will remain in place while the state of emergency continues.
– 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
Table of Contents
Table of Contents
Current COVID-19 Situation
Actions to mitigate the impact of COVID-19