Global Recovery Outlook
Date: September 21, 2020
We went out to our 50 offices and asked them three simple questions to try and gain an understanding of how the market is performing compared with last year, how ready are their markets for any kind of recovery and lastly when did they expect that recovery to really pick up pace?
The first question is your performance related issue: Are the hotels open? • If they are open, what are their numbers compared to last year? • On a 1 to 10 scale, if a market scored a five then you could reasonably assume that they were possibly looking at a number around 50% of last year.
That is of course a very rough estimate and is based mostly on our contacts in the marketplace as opposed to specifically hard research.
The second question is much more geared towards local governments and authorities: Do our consultants feel confident that they are on top of the issue? • Is testing and tracing working or not? • Have the government provided enough resources and financials support to get the industry through this? • Have they provided clear guidance in terms of how the hospitality industry and more importantly why the population need to behave in order to get through this?
And then of course the last question is self-explanatory and was deliberately set low, as you can see from the 60% occupancy level.