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Hotels Have Some Big Decisions Ahead…

World's Finest Meetings > Blog > Uncategorized > Hotels Have Some Big Decisions Ahead…

Hotel profits plummeted due to closings and meeting cancellations. Hotels will be competing to convince clients that they have enacted policies and best practices to insure all guests a safe and worry free meeting experience. With new “distancing” meeting space guidelines that expands meeting space usage for less attendees thus shrinking their overall group selling capability and new F&B guidelines that eliminates self service meals and breaks coupled with new cleaning guidelines makes for a new hotel “normal” from which to review their profit margin. How will they adjust their bottom line expences? Do they raise guest room, food and beverage, meeting, resort and other fees to offset their new expenses? How do you balance this decision against a client base that have been financially crippled by the global pandemic? Hotels are asking clients to take a health risk to transport, fly, stay, and mingle. To offset this, breaking “even” on some things may be the key to their survival. Clients need to be comfortable with the new norm then they will adjust financially. Clients and Hotels need to be creative, understanding, and transparent partners as they together cope with a new hospitality reality.

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