Star performers: Identifying the hotel sector’s winners and losers post COVID-19
By the end of April this year, 223,000 hospitality businesses in Germany had lost around €10 billion in turnover, leaving 70,000 businesses threatened with insolvency. The figures, compiled by the German Hotel and Restaurant Association, show that the hotel industry has been one of the hardest hit sectors during the coronavirus crisis.
Once this crisis comes to an end, it will leave a long-term mark on the hotel market. This is already clear from the manner in which the pandemic will drastically change hotel stays in the coming months. Many hotels will be forced to reorient themselves and introduce new practices, such as monitoring temperatures at guest check-in.
The famous luxury Four Seasons hotel in New York, for example, has switched to virtual check-in and check-out, without any human contact. In the elevator, guests now travel alone, and room service — as well as restaurant and bar operations — have been completely discontinued, with the goal of keeping hum