Conscious Business in the Time of Corona
Maintaining values alignment in the time of a Pandemic Driven Crisis while co-creating an equitable and prosperous future for the planet and its people
By Jared Meyers Co-Owner Legacy Vacation Resorts, Legacy Vacation Resorts | June 21, 2020
Almost every industry is struggling with the impact of COVID-19, especially in travel and tourism. The American Hotel and Lodging Association (AHLA) recently reported that since the US public health issue began escalating (in mid-February), hotels have already lost more than $21 billion in room revenue. The job loss figures are equally as staggering, with nearly 70% of hotel employees having been laid off or furloughed.
The impact is already worse than the 2008 Financial Crisis and 9/11 combined. Travelers from every corner of the globe are limited by travel restrictions as governments and responsible businesses try to contain the virus and flatten the curve. The closure and cancellation of major attractions, events, and entertainment venues has further reduced travel and impacted the people that rely on travel's economic prosperity for their livelihoods. This virus has exposed weaknesses in the foundation upon which our social and economic systems depend.
While the closing of our economy was initially seen as temporary, the unknown timeframe of our economic shutdown presents challenges on how to rebuild in a way that benefits people and planet. Surviving this downturn is difficult work. Maintaining a values-driven mission during the global pandemic is even harder, and can feel impossible at times.
At Legacy Vacation Resorts (LVR), we, like many others in the industry, faced tough decisions yet we knew these decisions were critical to ensure equity among all of our stakeholders. Our business had to survive to achieve its larger aspirations, and these decisions would reflect how we were using our business as a force for good.
At the Start
As a Certified B Corporation, LVR's values reach beyond financial success and extend to the safety and well-being of our guests, employees, environment, and communities. In the midst of the coronavirus uncertainty, we knew it was our job to lead responsibly, act collectively, and demonstrate authentic care.