We are witnessing how much this pandemic of virus Covid-19 is affecting all businesses and industries. The situation is hard for everyone, but the worst is for the hospitality and restaurant industry. And, the million-dollar question, will it ever be like before.
The hotel industry was the first one affected by restrictions. Lockdowns forced people to stay home and not to travel, so there were a lot of cancellations. That resulted in 7.5 million layoffs since February.
When we talk about revenues, there was $2.8 billion room lost revenue per week. If you think that is bad, let us tell you that the restaurant industry, just during the first three months, has lost more than $120 billion. That all implicates that this industry is near to collapse.
Because of the historic low occupancy rate, 33000 small businesses are near to be closed. That rate is still below the national average, which means that this industry will need dramatic incomes to come back on its own feet.
However, 1.163.735 business find out that the best solution for this situation is to close. When we look at statistics of closing for cities, the hardest was for:
- Los Angeles
- New York City
- San Francisco
If you want to find out in more detail statistics for those cities, please check NY Kitchenall.
What do people think about traveling and going to restaurants today?
Well, 80% of restaurant customers will continue with food delivery orders, and over 50% of them will not travel soon. But, those people think that technology could help in reducing human-to-human contact. That could encourage them to go to restaurants and to travel normally in the future.
We will see if technology is a real solution to this problem.