Queensway CEO discusses impact of pandemic on the Hotels industry
Queensway's CEO, Naushad Jivraj, was featured on the BBC this week, discussing the impact of the pandemic on the Hotels industry.
The hotels were forced to close in March, in line with government guidelines with no prospect of reopening until July. This would usually be the busiest time of year for the industry and occupancies would reach 90%. With half of the Point A Hotels staff on furlough, the key question is when reopening will be feasible and then, how the ramp up of demand will transpire.
Demand from international and events-based markets is likely to take significantly longer to rebound, however, there is some light at the end of the tunnel with regard to domestic travel. There is optimism also for the budget sector, which becomes attractive as people are more budget conscious but still looking for opportunities to travel and explore following months of lockdown.
You can watch the interview here