The coronavirus crisis is posing an existential threat to the hotel industry, with occupancy rates plummeting. It is becoming increasingly likely that the impact of this crisis will be long-term, with structural shifts in travel demand rewriting the market landscape for hotel groups and their franchisees.
Groups and franchises are acting fast to reduce costs, yet unless they are set up for a new, unprecedented market, they will likely fail in the long term. In the paper attached here, Teneo offers thoughts on how groups can act within their own business or support their franchisees.
The views and opinions in these articles are solely of the authors and do not necessarily reflect those of Teneo. They are offered to stimulate thought and discussion and not as legal, financial, accounting, tax or other professional advice or counsel.