45 Edition 2020 FINAL

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5045th | Vol 30 | 2020 | www.hotelier-indonesia.comCOVID-19 andthe globalhotel industry:A roadmap torecoveryJust before the 2020 Chinese Spring Festival in late January, with the regionalhotel industry forecasting more than 450 million domestic incoming travelers toChina, the sudden COVID-19 coronavirus outbreak hit the “pause button” hard -fullstop.HOT TALKS
45th | Vol 30 | 2020 | www.hotelier-indonesia.com 51The total number of festival travelersdidn’t even hit 152 million this year.Compare that to the 2019 SpringFestival, which reached 420 million,and Chinese hotels were down 64%.The loss of tourism during the SpringFestival period has now reached over550 billion RMB yuan (nearly $80billion USD).The Chinese Center for Recreationand Tourism Research has estimatedthe total loss of Chinese tourismthis year could reach three trillionRMB yuan. That’s 10 times greaterthan the estimated loss after 2003’sSARS outbreak. Here’s a look at theimpact of these numbers on the hotelindustry in China, the surroundingregion and worldwide.SARS and COVID-19Overall, SARS and COVID-19 are verydifferent beasts indeed. The speed ofthe current epidemic’s transmission,the number of patients, the numberof deaths and the length of theoutbreak have already surpassed orare on track to make SARS seem paltryby comparison. Moreover, the size ofthe hotel industry has also changeddramatically, with the number ofChinese hotels in 2019 being 50 timesthat of 2003.Although there are differences, wecan learn a great deal from SARS interms of speed and length of therecovery process.In July 2003, the China NationalTourism Administration officiallylifted the restrictions on crossregionaltravel and outbound travel,but the hotel industry was slow torebound. Passenger traffic picked upin the second half of 2003; however,the retaliatory growth did not occuruntil December, and the “back-tonormal”point for the industry wasn’treached until a full year after theoutbreak ended. With the Chinesehotel industry currently on indefinitehiatus and many hotel employeesalready on mandatory leave,hoteliers across the mainland - as wellas surrounding Asian markets andeven the wider global industry to agrowing extent - may find themselvesin a state of confusion and panic.What’s important now is to remaincalm and maintain rational thinkingwith a focus on long-term strategiesthat account for multiple possibleoutcomes. Here are some actionablerecommendations and steps to takenow, across five critical areas of yourhotel’s organization, to proactivelybegin the road to recovery:1. Revenue management, salesand marketingRight time: Keep a close eye onyour hotel’s revenue budget andforecast and make appropriateadjustments. Throughout the COVID-19 crisis, the team from IDeaSRevenue Solutions has been workingclosely with its Chinese and AsiaPacific clients to help them makefull use of their automated revenuemanagement systems, which deliverdata-driven competitive insights andscience-based forecasting of marketdemand and performance trends.Predictions of speed to marketrecovery should not be overlypessimistic, but realistic in the shortterm, middle term and long termcorresponding with sales strategyadjustment.Whether your forecast process isautomated or manual, it is especiallyimportant as not only the foundationof pricing control, but also the basisfor making major decisions such asstaffing, operation and cash flow.An automated forecasting anddynamic-pricing solution can helpto integrate hotel operations andback-office management with yoursales and marketing and revenuemanagement teams.
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