News | 28th April 2020

Covid 19 Update – Revenue and Systems

Did you know, when you have studied/worked at a subject for 10,000 hours you are considered an expert?

That’s 3 hours a day on a subject to learn, understand and practice it. For a little over 9 years. True expertise is well earned. And worth listening too.

The rise of the vendor on all subjects surrounding hospitality has been an interesting phenomena. It’s wonderful to see so many professionals share their opinions, knowledge and understanding of the current situation.

The last two weeks have been spent listening, digesting, understanding a vast array of data and opinion, in order to summarise what’s important for our hotels. Here’s what we know:

Key points from across our industry

  1. Resilience.  A controversial point made by a speaker at the Hospitality Tomorrow Conference. Hospitality businesses in the UK have battled through the last 10 years of austerity. Yet occupancies have grown, ADR has grown. It’s been tough. But resilience, tenacity and creativity has got you there. Let’s not forget that.
  2. The anticipated recovery is almost impossible to predict. The global regions will behave differently. Attached is the STR update which details the data curves. There are optimists and pessimists… views differ.
  3. Occupancy is still in the red across the world. European occupancy between 0-20%.
  4. Staycations are still a big point of discussion including social distancing and what can hotels do to ensure they comply. When and how the lock down restrictions are eased will have a big impact on demand.
  5. The first demand segments in the green shoots of recovery in China have been
    - Domestic Leisure
    - Corporate Business

Here at Journey, we will be concentrating on the emerging data and taking action for our hotels to ensure you are in the best position to attract guests when they are ready to book.

As STR pointed out this week...

"EVERYTHING WILL BE OKAY IN THE END, IF IT’S NOT OKAY IT’S NOT THE END"