The Future is Now. Be Resilient, Innovate, and Observe Emerging Trends for the "New Normal"
By David Harroch CEO, Booking Ninjas | April 26, 2020
Peering through a lens, seeking the clearest view of the current global state-of-affairs, we find one of the saddest moments we human beings have ever experienced. A novel Coronavirus that originated in China in late 2019, has, as of this writing at the end of April, infected nearly 2.7M people and killed 190,000 worldwide. Just in America, by week's end, COVID-19 will have caused more than 50,000 deaths. There is some good news to share, however: so far, well over 700,000 people have recovered from the disease, and the "curve" appears to be flattening in the hardest hit areas here in the United States and across the world.
The human and economic devastation from COVID-19 cannot be under stated, and, at best, as of today, we remain in the middle of the crisis. This is a one-of-a-kind, hopefully, once-in-a-lifetime pandemic spreading across the planet, facilitated by the human element of improved international business relationships and well established, critical supply chains. While we're presently in a state of emergency-sheltering-in-place, social & physical distancing, and hopefully flattening the curve-we remain optimistic that this will eventually pass.
Most business leaders seem to be in agreement that a "new normal" will emerge. While it's too early to predict most of the changes in a society forced to live and behave in new ways, we are optimistic, and we believe in the remarkable power of both human resilience and the capacity for human ingenuity. Yes, there will be hundreds if not thousands of stories about businesses that did not survive.
But there will be as many stories of those that do, not-to-mention the stories of new businesses that will be born. There will be new ways of doing business…new best practices…some that we can already see, and some which have not yet been conceived. Innovation in all of its forms and through all of its applications is the key to transcending the human and business crisis we face.
Impact on the Hospitality Industry
We live in an unprecedented time. The upheaval is such that most aspects of our business and personal lives seem, at best, uncertain. The pandemic's affect on the hotel and hospitality industry is of a colossal proportion. Our industry is, perhaps, the hardest hit. Best case scenarios have current hotel occupancy levels at 20% to 30%.