The impact of Coronavirus on the Hospitality Industry
The hospitality industry is one which relies solely upon people who they can serve. Bars, cafes, takeaways, catering services, restaurants – they all need the public to function. So when they can’t get access to their customer base, a problem emerges.
COVID-19 is a pandemic which is sweeping the world at the moment, and one which is difficult to control. Here in the U.K., and across the world, all non-essential services, including those people in the hospitality industry, are finding themselves out of a job. Let’s examine the impact this will have.
No Customers, No Wages, Big Problems
A lot of companies are currently in the middle of a severe economic crisis because they are lacking in customers to make sure the company continues to make a profit. When some establishments like Wetherspoons resisted the shutdown pressure from the government, people thought their CEO was crazy. However, like a lot of people, they probably understood the looming hardships.
No customers means that the company can not function. They were forced to close down which meant that staff simply had no job to go to. In some cases, employees weren’t getting the wages they were owed because of financial difficulties. It’s also true that the longer a company is out of the game, the more difficult it is to recover.
Potentially Irreparable Damage
Of course, we have to consider that the damage done to the hospitality industry could be irreparable. What this means is that there could very well be some massive challenges for the industry as a whole.
The hospitality industry will recover in some form, that much is pretty much guaranteed. It is a core notion that when it comes to the hospitality industry, there will always be some form of it because it is a vital component of the world.
However, it’s also true that when it comes to the damage done by COVID-19 that some companies may never recover. Powerhouses in the industry might go into administration in the coming months. There are people with no jobs, no wages, and no hope for their positions back anytime soon. A new form of industry might well emerge with those who have the finances to survive being the new dominant providers. You just don’t know, and that, in itself, is a worrying notion.
In conclusion, it’s easy to see why a lot of people in the hospitality industry are worried for the future. There are uncertain times and they don’t make a lot of people confident. All we can do is continue to train via online portals, prepare for when the lockdown restrictions are eased, and carry on. We have to believe that the industry will continue to grow and prosper as a result of the choices we take and the things that we continue to do in the future. It may look bleak right now, but it will get better, and it will thrive.
