Impact of COVID-19 on the Global Lodging industry: Hot Topic Brief - Issue 1

Impact of COVID-19 on the Global Lodging industry: Hot Topic Brief - Issue 1

Summary

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

- 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 travelers 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.

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