TOP STORY Cheval's George Westwell on trading through the lockdown Cheval Collection chief executive George Westwell talks to SAN editor George Sell about trading through the coronavirus pandemic, covering occupancy rates, new working practices, the outlook for the future and more. LATEST NEWS FEATURES VIDEOS Editor's comment
03-04-2020
• It may feel as if our industry - and indeed pretty much every other one - has ground to a halt, but although the effects of the coronavirus pandemic have been devastating, we have to take crumbs of comfort where we can find them. And there are a few to be found.
Firstly, and most importantly, serviced apartments are in a much better position than hotels to continue trading through the current situation - and many are. They have much lower staffing requirements, offer guests the chance to isolate themselves in a self-contained unit, are experiencing higher demand and are well placed to flex inventory and to pivot their business model to offer accommodation to health and other key workers, even if this is generating low or even no income. I believe businesses who see the bigger picture and muck in to help their communities will see that their efforts are appreciated and remembered in the future.
Some companies are clearly in a better position than others - in our interview with London operator Cheval Collection's George Westwell he describes how new sources of business and changed working practices have meant the company has achieved occupancy above 50 per cent for March. Compare that with hotels worldwide (most UK hotels are closed on government advice, whereas most serviced apartments can stay open) who are struggling to reach double figures, and you can see the clear difference. Cheval, as an owner/operator, has the luxury of not needing to negotiate with landlords at the moment - a scenario which is currently dominating the thinking of many other operators.
But the results of our SAN operator survey, which we will be sharing next week, are surprising, encouraging and, in some cases, inspiring. Many thanks to the companies from around the world who took part, and we look forward to sharing the findings with you in our next newsletter.
Until then, stay safe.
George Sell, editor Katie Houghton
Group head of sales: +44 (0)7535 135 116
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