Summary
The global hospitality industry has faced significant challenges in recent years. While many have been forced to cease operations due to poor financial performance, those that remain have had to significantly adapt their range of services to operate in a changed and often uncertain environment.
A key factor driving change across hotels and recreation facilities is guests' heightened expectation of hygiene, convenience, and low-friction service across every touchpoint between customers, staff, and the environment. This has made mobile apps and QR codes standard in lieu of physical menus and rate cards, alongside contactless food & beverage solutions across restaurants and buffets. Many patrons also favor outdoor dining areas where possible.
Although demand for hotel bookings has witnessed periods of significant lows, many hotels have built new revenue streams through re-imagined holiday packages. This includes flexible extended-stay packages, offering remote and hybrid professionals a change of scenery, as well as re-imagined wedding and small gathering event packages – complete with video conferencing technology for in-person-remote hybrid attendees.
Harnessing our global hospitality consulting experience, Cedar develops robust, innovative strategies that are designed to help you navigate — and succeed in — a fast-changing world.
