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The occupancy rates are down, hotels are experiencing a dip, and big group travels are being cancelled. The hotel industry is always vulnerable, as its business is largely subject to tourism development and the number of tourist arrivals.

We’ve been through things like this before, except the media coverage wasn’t so extensive and panic-inducing. Where is the swine flu, SARS or H1N1 now and how did hoteliers deal during those outbreaks? Remember, websites often implement a pay-per-click rule, therefore spreading hysteria is beneficial for them.

Recessions are natural in economic cycles, however, and investing during a recession is an old ‘trick’ to make it through to the recovery period. If you want a quick course on that, check out Investopedia – investment during recession.

Our tips to stay on top of your business

We hope these tips help you, let us know how you are coping and how is the current situation at your location!

Source: https://insights.ehotelier.com/insights/2020/04/16/crisis-mitigation-gain-control-of-your-hotel-back/
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About the Author:
Flora Keresztely
Flora Keresztely is GuestJoy’s content marketing master. GuestJoy was born when a group of frequent travelers and hospitality sector workers started sharing their experiences with each other. Today the team works in 16 countries, speaking 15 languages, and has been awarded as a top start-up.
https://guestjoy.com/
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