RE-STRATEGISING' FOR LONG TERM SUCCESS

The hotel and tourism industry is currently going through one of the most difficult times that can be recalled.

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The COVID-19 pandemic has shaken up the entire world and more so the hospitality industry, which runs on people connect.

However, I am a diehard optimist and would rather take this time to look at the opportunities that the adversity has thrown at us. There is no doubt that this will emerge as the survival of the fittest and it reminds me of the famous saying – when the going gets tough, the tough get going.

Most hotels have partially started their operations and one would have seen and experienced the new norms that they are following in this Covid era. Now is the time for all stakeholders in the industry to re-strategize’ in a bid to remain financially sustainable.

Already, guests are beginning to seek out hotels, restaurants and banquets spaces where they can feel safe and comfortable. It is important for hoteliers to send out the message that they are ready to provide them with a healthy and safe environment and actually live up to these promises.

THINKING HARD

The immediate future and long-term prospects demand that hoteliers start looking out for newer avenues for revenues. It is not possible to come up with these strategies in isolation. Entire teams ought to brainstorm after evaluating the present market situation and the competitive scenario. This might necessitate a tough SWOT analysis so that a hotel can choose its target market and new clientele based on its contemporary strengths.

A small but good improvement is evident in the wedding segment, as there was a large backlog of celebrations which were put on hold during the lockdown. The leisure market is also slowly picking up.

I predict that the first rays of success shall shine upon hill station resorts. Next in line will resort near large cities, where guests can drive to within a couple of hours.