Anyone who’s been in the hospitality industry for a while and has a LinkedIn account has likely seen a schizophrenic mix of conflicting posts across their news feed lately. On one hand, there’s a constant flow of “We’re back, baby!” congratulatory postings with smiling (we presume under their mask) people linked arm-in-arm celebrating the return of in-person meetings. At the same time, there’s also a steady stream of announcements from industry connections saying that they’re leaving the hospitality business for good (after lots of job – and soul – searching). So, which is it? What’s the true state of the industry today?
It’s becoming crystal clear that the hospitality industry will be dealing with the fallout from the COVID-19 pandemic for decades to come. Many business insiders are quietly acknowledging that growing demand, coupled with difficulties in finding and retaining personnel, is creating a new crisis. Hoteliers are desperately seeking out new, reliable revenue streams that deliver bulk sleeping rooms without needing the staffing levels required to execute meetings and catering events.
In a recent blog post, travel tech supplier, Vindow, noted that Suppliers appear to be fishing for opportunities to offer long-term contracts for corporate business. That’s bait that savvy business travel procurement teams are snapping at. There are a lot of benefits on both sides of the transaction. Under the right circumstances, corporate rates may offer a solution that no one could’ve predicted.