2020 will go down as the most difficult year on record for the global hotel industry—until the next one. Which is to say that there is an inevitability of something beyond anyone’s control impacting travel and hospitality, testing its resiliency.
COVID-19 was the black swan event the hotel industry often alludes to and hopes to perpetually avoid. In an act of defiance, 2020 went rogue. The start of the new decade was one to forget and remember. Antithetical, sure, but a reminder that preparedness is about lessons learned through difficulty. And if ever there was a year of upheaval, it was 2020.
Each year, HotStats produces "Profit Matters," a global review of the trends and data points that drove the hotel industry. As the data and storylines prove, the hotel industry has its work cut out for it, but is already seeing some green shoots, especially as global vaccine distribution accelerates.
To make sense of it all, download a free copy of "Profit Matters Global Hotel Performance Review 2020" to learn about key data and trends including:
- Break-even analysis
- Re-structuring payroll
- Re-examining cost lines
- Re-evaluating F&B structures
- Commentary from industry executives
- Country and city-level revenue, expense and profit measures
- Estimates of what’s in store for 2021
Understanding where the hotel industry stands, first starts with understanding context.