The coronavirus has brought nothing but bad news for the hotel industry. With business and holiday travel virtually grinding to a halt, a recent McKinsey report suggests most properties won’t see regular occupancy rates until 2023.
Many luxury properties with high overhead expenses first responded to the pandemic by completely shutting their doors. Others offered free lodging and meals to first responders. Now hotels are at the stage where they’re once again trying to attract paying guests. That means drawing from the lessons of the initial Covid-19 wave to keep patrons safe while experimenting with new revenue-generating models—and re-evaluating their purpose of the hospitality industry in the process.