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WHAT'S THE BUZZ IN HOSPITALITY?

Navigating the Pandemic’s Impact on the Hospitality Industry

Mar 20,2020

Amid the ongoing COVID-19 outbreak, vacation plans have stymied, and the tourism industry is feeling the pinch.  We’ve seen a large number of events and conferences postponed or cancelled in every market. Without a doubt, the virus has affected our global population on a very personal level. It remains too early to gauge the full impact the outbreak will have in global hospitality as the markets are still coming to terms. While a growing number of businesses have closed to help contain the spread of COVID-19, there are stories of action taken across global hospitality markets to minimize person-to-person contact and the transmission of the coronavirus while remaining open for business.
  • For hotels, resorts and restaurants that have made the strategic decision to remain open, this practical guidance explains what managers and staff in the hospitality industry can do to protect themselves, and their families, their colleagues and guests, to prevent the spread of flu.
  • Some resorts and hotels with onsite food and beverage outlets are now offering delivery and take-out options to customers outside their property boundaries. The expanded F&B offerings to entire communities may also help limit the number of staff furloughs.
  • Australia's hospitality sector has stepped up efforts to minimize physical contact between staff and patrons by only accepting cashless payments.
  • As existing flights continue to be cancelled, and the government is actively discouraging discretionary travel, driving seems to be increasing. Many resorts and hotels are offering incentives for long-distance commuters, such as waiving parking fees and providing discounts.
  • One popular five-star property in Manhattan is promoting a unique F&B delivery package that goes well beyond its traditional room service offering. Using its onsite restaurant, the property is extending to all-day delivery of menu items as a means to limit exposure to restaurant crowds.
Concerning the impact on business revenue:
  • Among the White House’s targets in the coming days is the potential for relief in the form of tax deferments, loans or even direct payments to airlines, the hospitality industry and small-to-medium businesses affected by plunging demand, according to the Wall Street Journal.
  • Resort owners and managers may check with their insurance providers, inquiring what their policy defines as ‘business interruption’ coverage.
  • In the short term, operators may consider the need for a line of credit to help offset costs as a result of any potential downturn in business.
Every day brings new stories of those affected in our local communities and with these stories come creative ways our industry is navigating through this crisis despite the uncertainties.  Agilysys remains committed to helping its customers and communities through these unprecedented times.

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