As with any crisis or “shock” to the hospitality and tourism industry, there is always a period of recovery followed by stabilization. Each shock has its own set of factors that caused the disruption in the first place and therefore the recovery period can vary dramatically by region, market and even by service provider within a market. That said, in the post pandemic era, there is a direct correlation between industry transparency and speed of recovery – we call this the recovery equation.
COVID-19 isn’t going away anytime soon. Of course, plenty of smart people are working on a vaccine. And while a vaccine isn’t a “cure”, it will certainly go a long way to stimulate recovery in the hospitality and tourism sectors. In the absence of a cure per se, we as an industry will have to think differently about our areas of responsibility and what role we should play in helping travelers to get moving again.