CURRENT STATE OF HOSPITALITY INDUSTRY

It is transitional and ever evolving

- KEN SHANLEY

Declaring that the COVID epidemic has profoundly change 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, rising prices, international unrest, and two years' worth of missing data. This makes planning for basic operations at the property-level even more complicated and hectic than ever, especially for smaller properties.

All of this means that hoteliers are focused on recovering as much of the losses that they experienced during the lockdowns, and I'm here to share some fantastic news that will help your property's bottom line. According to the Northstar/Cvent Meetings Industry PULSE survey, nearly 80% of respondents intend to produce their next in-person meeting in the first half of 2022. The same study also showed that 44% of respondents will hold their next in-person meeting this quarter, and another 34% will meet in Q2. Only 4% will hold off until 2023 or later."

THE SLEEPING GIANT AWAKENS