What
Forbes Travel Guide released the second of its Leading Edge of Luxury Reports, providing a global outlook of more than 400 high-end establishments. The new report, collated last month, shows how luxury hospitality is faring and modifying in response to the COVID-19 pandemic’s ongoing challenges. It reveals that slightly more than half of hoteliers believe the worst of the crisis is over, yet they expect that the road to recovery could be long: 84% of hotels are now fully or partially open to the public, compared to 56% in the July report.
Why It Matters
Of the remaining resorts that are closed, 63% plan on opening in the fourth quarter, and 38% are delaying reopenings, with most citing existing government restrictions (49%) and not enough demand yet to be worth it (54%). While these results suggest an optimistic outlook about where we are headed, the industry clearly has a lot of work to do before things get back to normal. Since luxury travel tends to lead other niche markets, watching how this group responds will be a good indicator of what the rest of the industry can expect.
Fast Facts
- According to the survey, there is a notable change in the guests many hotels are hosting — 64% have seen a higher or much higher than typical proportion of leisure guests compared to business guests, and 78% of properties are welcoming more local and regional guests.
- Ongoing concerns around the pandemic have also led to a 61% increase in guest telephone enquiries ahead of booking.
- Many hotel executives give their staff high marks on adjusting to the crisis — 60% of respondents state their staff have coped either well or very well with the extra responsibilities due to reduced staffing, and 93% have taken to the extra cleaning procedures well or very well. In addition, 80% of respondents say their staff have handled enforcing health and safety procedures well or very well.
What They Are Saying
“We’ve witnessed such tenacity from the hospitality industry despite the unending daily challenges,” said Filip Boyen, CEO of Forbes Travel Guide. “Yet we remain cautious, creative and steadfast in the future of luxury hospitality, however long it takes.”
The Details
Forbes Travel Guide
www.forbestravelguide.com
