Hotel industry dead due to Corona virus

Tue Mar 31 2020 20:13:25 GMT+0530 (IST)

One sector which has taken a complete beating due to Covid 19 is the hospitality sector. The hotels and restaurants have been closed across the world. There is no tourism whatsoever. The Governments across the world have banned tourism in view of the corona virus.

Despite the global slowdown , there was at leat 65 per cent occupancy in star hotels But, this time around Corona dashed all hopes. The coming summer season, when families take vacations, is all but washed out.  As a result, all the allied sectors have suffered. With this, the growth in the sector has gone into the negative.  The Current occupancy in the hotels is less than 3  per cent. Among the worst sufferer is the chain of hotels that the Trump family runs. The Trump organisation is laying off its employees to tide over the crisis.

At this rate, the year 2020 is all but lost for the hospitality sector and it would take years for the sector to look up again.