Daily Bulletin

  • Written by News Co


The pandemic of the Covid-19 virus hasn’t spared anyone. But, the worst was for the restaurant and hospitality industry. We’re not going to lie - the situation doesn’t look good. “New Normal” isn’t that normal for this industry.


Since February, 7.5 million people have lost their jobs in the restaurant and hospitality industry. That is all because of lockdowns, which forced people to stay home and not to travel. Those lucky ones, who kept the job, are working for reduced wages and hours.


The situation with revenue losses is alarming. In total, the projection of hotel losses is at a level of 50% for 2020, while restaurants have lost $120 billion during the first three months of the pandemic according to Kitchenall equipment research.


The hotel occupancy rate was at an unbelievable level. It was just 24.5% of capacity, which is under sustainable 35%. That put 33000 small businesses at risk of closure.


Because of all stuff that we mentioned earlier, a lot of businesses decided that the best solution for them is to be closed. In numbers, 1.163.735 businesses have closed on Yelp. It is clear that this industry will have a lot of problems in getting back on track.


So, what are the predictions for the period ahead?


Only 17% of people willing to stay in hotel rooms, but only when a vaccine becomes available. And, 50% of people have no intention to go to restaurants immediately.


There is a belief that technology will help in the minimization of human-to-human contact. Till then, ⅓ of restaurant customers and 40% of hotel customers have will to pay more for increased safety precautions.


Business News

A Guide to Finance Automation Software

When running a business, it is critical to streamline certain processes to maintain efficiency. Too much to spent manually on tasks can wind up being detrimental to the overall health of the organis...

Daily Bulletin - avatar Daily Bulletin

Top Tips for Cost-effective Storefront Signage

The retail industry is highly competitive and if you are in the process of setting up a retail store, you have come to the right place, as we offer a few tips to help you create a stunning storefront...

Daily Bulletin - avatar Daily Bulletin

How Freight Forwarding Simplifies Global Trade Operations

Global trade operations are becoming increasingly complex due to international regulations, customs procedures, and the sheer scale of global logistics. For businesses looking to expand internation...

Daily Bulletin - avatar Daily Bulletin