TOP STORY Revenue management strategies to deal with COVID-19 Ally Northfield, managing director of Revenue by Design looks at strategies for mitigating the devastating impact of coronavirus on the hospitality sector. LATEST NEWS FEATURES VIDEOS Editor's comment
17-03-2020
• They say a week is a long time in politics, but it's staggering to look back on how much has changed in the hospitality sector over the last seven days, thanks to the coronavirus pandemic.
Just last Thursday, we were enjoying a fabulous evening, celebrating the best our industry has to offer at the Serviced Apartment Awards in London. The atmosphere was celebratory but tempered by the knowledge that hard times were just around the corner, and by the fact that some of our overseas colleagues were unable to join us due to travel restrictions.
Now, just five days later, the situation has developed at dizzying speed. Events of all types have been curtailed, international travel has virtually ground to a halt and occupancy across the hospitality industry is in free fall. We are already seeing property closures and redundancies, and it's going to get worse before it gets better.
But it's important to keep our heads, to stay positive and to try to make the best of a bad situation. Today's article by Ally Northfield about revenue management in the current climate is the first of a series of thought leadership pieces we will be running in the coming weeks on Serviced Apartment News, to enable our readership to share different perspectives and ideas for trading through the storm.
We hope they will be useful and welcome any suitable contributions. If you'd like to share your thoughts on how our sector can best cope during the pandemic, please drop me a line at george@internationalhospitality.media
George Sell, editor Katie Houghton
Group head of sales: +44 (0)7535 135 116
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