On the brink of full recovery, the hospitality industry faces another major test
Let me start by saying that when we consider the effects of Russia’s unwarranted and bloody war to take over Ukraine, the business impacts on the travel and hospitality industry are far from top of mind. priority list. That said, I know many hoteliers are wondering exactly how this latest geopolitical shift will change the trajectory of what is shaping up to be a strong 2022 for the industry.
While virtually any answer to this question is pure speculation, it’s safe to say broadly that it’s almost impossible for any outcome of current events to be good for hoteliers.
Although we are all tired of the word ‘unprecedented’ after the last couple of years, it is an apt term for what is happening now with regard to the modern hospitality industry, since this is the European conflict the largest since World War II.
The most direct impacts are obvious. No leisure travelers will be visiting Ukraine, and very few trips will be heading to Russia, as Western companies move in droves to halt operations there for the time being. Travel to Eastern Europe, something many people looked forward to just a few weeks ago, will clearly be seen as a much more dangerous proposition.
And depending on how the conflict progresses, people could become more nervous about international travel in general. At the very least, no one will feel more comfortable in this environment.
In the end, all of this may not amount to much, but it seems like the odds are much more likely that this will be a grave moment that we will remember in both world history and in history. history of the hospitality industry.
In early 2020, I wrote a blog similar to this, warning that the COVID-19 pandemic was a serious hurdle for the hospitality industry, at a time when many said it would be a short dip before a rapid recovery. I’ve even been mocked on Twitter by some hoteliers who will remain anonymous here claiming mine was just one of many scaremongering takes designed to generate clicks.
Those who chose to put their heads in the sand were wrong then, and I daresay they will be wrong again this time. I hope for nothing but the best, but the reality is that we are facing a moment in our collective history that is more tenuous than any of us would like and unlike anything we had to live from recent memory.
Who knows how this will end up shaking? Obviously not me. But for now, let’s just hold in our hearts the health and well-being of the Ukrainian people, and even the young Russian men pushed into war by an indifferent leader.
Let me know what you think Twitter, LinkedIn or via E-mail.
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