Hospitality industry on the verge of business model change
In the new, COVID-19 reality, as the global situation changes rapidly, no one knows even the nearest future. But for sure nobody would ever like to disregard more than 10% of previous global GDP, which is Travel & Tourism.
Entire Travel & Tourism industry will come out of the crisis heavily battered, but so will be the customers - travelers and guests. During our interviews with significant group of hoteliers it became clear, that within the nearest future there will be no space to any price hike in various fields, including hospitality services.
In the coming days, the only possible way and reasonable solution for the industry seems to be enhancing the OTT sales in the venues in order to gain more revenue from fewer clients and which would enable to close the revenue gap.