Entrepreneur Milind Pote expresses his opinion about COVID-19's effect on hotel industry
Whether it be luxury sector or economic sector of hotel and restaurants industry everyone has been going through this major loss and financial crisis.
Corona pandemic has affected widely on all the business sectors but it has majorly affected hotels and restaurants industry. Hotels and restaurants industry might need until 2023 or more to recover from this major loss. Restaurants in Marathwada region will take more time to recover as compared to other cities. It’s going to be a huge challenge to make guests feel safe in restaurants. Whether it be luxury sector or economic sector of hotel and restaurants industry everyone has been going through this major loss and financial crisis.
Now many hotels will never open again. In my opinion small scale restaurants can recover faster than the big scale hotels. Big scale restaurants and hotels will take more time to recover. Small scale restaurants can reopen in small amount or less capital investment but that’s not the case for the big scale hotels and restaurants. They will need more finance. Cost for food is very important. Small scale restaurants can minimize their costs and they don’t usually need to be dependent on skilled labor. In fact, often all the members of family work in a small restaurant. But to run a big scale hotel or restaurant you need many people.
Many restaurants and hotels need investors or bank loan to run but it’s difficult to say how many people will get loans for restaurant from now on.
Peoples mentality is different in Marathwada region. It will take time for them to adapt to QR code menu cards, using gun to check temperature. They will take time to use all these things.
We have always heard; hotel industry is the one sector which can’t be affected even in the serious recession times. Because, let anything happen but people can’t give up on food. But surprisingly this Corona pandemic has affected majorly to the hotels and restaurants industry.
Now because of Corona one out of four restaurants will never reopen.
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