hospitality industry outlook
The Current State of the Hospitality Industry: Transitional & Ever Evolving
Ken Shanley | March 25, 2022
By Ken Shanley Declaring that the COVID epidemic has profoundly change the hospitality has quickly become a hackneyed cliché – nonetheless, one that is undeniably true. It will take years before we, as an industry, can fully unravel and appreciate the implications and impact of all these changes on hoteliers. Now, as we move from pandemic into the endemic phase of the health crisis, demand is quickly picking up and hotels are returning to full operational capacity. It may feel as if things are returning to “normal,” the outside but, it’s anything but “normal” on the inside. Hotels are dealing with ongoing staffing shortages, ris...
Economic Theories on COVID-19’s Impact on Hospitality and Tourism
July 13, 2020
Fever, dry cough, and tiredness. These are the COVID-19 symptoms according to the World Health Organization (WHO). Yet those are also the textbook symptoms that the world economy is experiencing today. What is missing is a small footnote that says, “By the way, watch out for the return of the Say’s Law”. If we were at the doctor’s, we would then ask: “Is it serious?” The answer would be: “It depends, we don’t know much about it!” Well, why not? COVID-19's negative impact on the aggregate demand and aggregate supply The COVID-19 crisis, like the 2008 crisis, led to a substantial drop in demand: customers don’t consume, gu...
