Hot Topic Brief – Impact of COVID-19 on the global lodging industry

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.

Key Highlights

– The AA has recently launched a ‘Covid Confident accreditation scheme’ for the hospitality industry in the UK, to help instill public confidence in domestic tourism as lockdown measures ease. The free scheme is open to hotels, B&Bs, self-catering properties, campsites and other accommodation types, as well as pubs, restaurants, cafes and visitor attractions. The aim is to indicate to customers that a premises has the necessary health and safety measures in place to reopen to the public.

– According to GlobalData’s week 10 COVID-19 consumer survey, 35% of UK consumers want news about initiatives adopted by companies during the Coronavirus (COVID-19) pandemic period, when looking at the global response, 48% of consumers want this sort of information. This response shows that hotels that sign up for schemes such as the Covid Confident accreditation scheme will be catering for a growing need from consumers about what companies are doing to ensure customer safety in the short term.

– British Prime Minister Boris Johnson has recently announced that England is set to reopen its lodging industry, starting July 4. He has also mentioned that some leisure facilities and tourist attractions may also reopen with proper safety and security in order to restore the arts and cultural sector. This creates even more promising news for the UK lodging industry as the reopening of tourist attractions and leisure facilities will provide more motivation for domestic tourists to travel to a different part of the country. This added bonus will hopefully shorten the recovery period for many UK lodging providers.

Scope

– 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

Companies mentioned

Marriott

Hilton

Accor

Wyndham

IHG

Airbnb

Table of Contents

Table of Contents

Analyst’s Overview

Current COVID-19 Situation

Industry Impact

Future Scenarios

Actions to mitigate the impact of COVID-19

References

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