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FIVE WAYS THE HOTEL AND RESORT INDUSTRY ARE BOOMING AFTER PANDEMIC

The hotel and resort industry has been through a lot in the past year. However, with new opportunities arising, many businesses are seeing a resurgence in growth. Here are five ways the hotel and resort industry has been booming after the Pandemic.

How did the Pandemic affect the Hotel industry?

The impact of the COVID-19 Pandemic upon the economy has been grave. The successive lockdowns imposed by governments across the world coupled with restrictions on travel have led to an unprecedented hit to the hospitality sector. However, with the easing of the travel restrictions and as the borders are opening up, we are noticing an upward trend in the travel and hospitality sector. 

With people getting an opportunity to travel after remaining confined and isolated within their homes for a couple of years due to the Pandemic, it would not be an exaggeration to say that after the hiatus, the hotel and resort industry is bouncing back once again after the Pandemic. 

FIVE WAYS THE HOTEL AND RESORT INDUSTRY ARE BOOMING AFTER PANDEMIC

It is equally valid that the hotel and resort industry has had to develop strategies and adapt itself to the post-pandemic world to ensure that they are ready to face the headwinds that the post Pandemic situation casts upon them. Let us see the five ways that the hotel and resort industry are booming after the Pandemic:

  • Making customer and staff safety a priority: Customers are now want their stay to be safe and hygienic. Hotels and resorts have been up to the task as well. By ensuring regular sanitization and complete vaccination of their staff, hotels and resorts are trying to gain customer confidence. The hospitality sector depends a lot on in-person interactions; therefore, the safety of the customers and the staffs are high on the priority list of the hospitality sector. By making their premises safe for the customer and by adopting all precautions, the hotel and resort industry can attract and gain the customers’ trust and thereby generate revenue.
  • Adoption of technology: While even before the onset of the Pandemic, technology was being used in various sectors, however, the Pandemic has led to greater use of the same, and the hotel and resort industry has been embracing technology to leverage their business. From offering a seamless online booking experience, offering a digital menu to a contactless welcoming (through mobile check-in) and payment facility, the hotel, and resort industry has developed the digital infrastructure to facilitate its business. In fact, as in other sectors, the hotel and resort industry has also thrust digital marketing to ensure higher customer outreach.
  • Renovating the property: Several hotels and resorts have utilized the time during the Pandemic to renovate their premises and give their property a more attractive and renewed look and feel. As a result, now they are reaping huge dividends as more and more customers think attracted to their property.
  • Offering discounts, privileges, etc.: Some hotels and resorts have also started offering various forms of value, implementing loyalty programs, etc., to attract new customers and bring back the old ones.
  • Introduction of Staycation: Some hotels and resorts have started offering staycation packages and special deals to customers to lure city dwellers by providing them with a feasible option. This also ensures high occupancy levels and thus helps in propelling the business.    

Final Thoughts

Grand Vivanta, one of the leading luxury hotels in India, offers a range of investment opportunities for those looking to enter this rapidly growing market. With over 37 years of experience in the hotel industry, we know what it takes to succeed in this field. Contact us today to learn more about our exciting investment opportunities!

Ahsan Khan
Ahsan Khan
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