![]() “It was complicated because every country has different labour laws and different government support measures,” he says. With 33 hotels in 24 countries, this was no easy endeavour. “Our revenues globally collapsed overnight so, in very quick order, we had to assemble a crisis management team to go around the world, hotel to hotel, deciding what we needed to do.” “Sars only lasted four months but it was apparent Covid was going to be a lot bigger,” says Craig Beattie CA, group CFO. ![]() Having learnt lessons from the 2003 Sars epidemic, which devastated the city, the luxury hotel group acted quickly when Covid-19 hit. Mandarin Oriental Hotel Group, headquartered in Hong Kong, is no stranger to managing crises. History repeatsĬraig Beattie CA, CFO, Mandarin Hotel Oriental Hotel Group We speak to four CAs working across various sectors to explore how the industry has reacted to the pandemic and debate what the future of travel may look like when the world starts moving again. In response, we’ve seen firms roll out new business models and more varied investment strategies as they attempt to turn challenge into opportunity.Īs the UK prepares to ease lockdown for – we hope – the final time, April is an opportune moment to re-examine our relationship with travel. It’s expected that revenues won’t make a full recovery before 2023, assuming the success of vaccines and the return of customer confidence. Air passenger arrivals to the UK were down by 98% in April compared with February, while May’s takings in the travel and accommodation sectors were just 9.3% of the UK’s last pre-lockdown month. ![]() When planes were grounded and countries locked down early in 2020, the hotel and travel industries came to a grinding halt. As the world begins to stir, Rachel Ingram hears how four CAs are preparing for life after lockdown and why things may look a little different when we all start moving again. Professional resources Toggle Professional resourcesĬPD - professional development Toggle CPD - professional developmentģ1 March 2021 The hotel and travel sectors were among the worst hit by the pandemic.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |