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7 Innovative (But Simple) Ways Hotels Can Survive the Covid-19 Travel Crunch

Entrepeneur 27 Aug 2020 05:00
7 Innovative (But Simple) Ways Hotels Can Survive the Covid-19 Travel Crunch
Image credit: Jon Lovette | Getty Images
7 min read
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Before Covid-19 slammed the breaks on air travel, the revenue forecasts for the global hotel trade were looking rosy. Corporate travel expenditure alone was projected in some forecasts to grow into a $1.7 trillion industry mega-segment by 2023.

But, thanks to coronavirus, instead of harvesting one of the biggest revenue growth-spurts in the history of hotels, hoteliers are facing the toughest time in industry history.

It isn’t all doom and gloom, however. Around the world, travel bubbles and corridors are forming, facilitating new flows of movement and consequently, hotel room occupancy. According to an August 2020 CBRE report on the state of the Australian travel industry, what would have otherwise been international travel has turned inward. Regional travel within Australia is on the rise, with one leading hotel industry publication declaring a ‘renaissance’ in domestic travel. Other’s report the emergence of an Australia-NZ travel bubble which will help sustain the tourism industry in both counties.

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