There is a light at the end of the tunnel for the tourism and travel industry as COVID-19 vaccines roll out and most countries are getting a grip on managing the global pandemic. There is no doubt, however, that COVID-19 has starkly affected the tourism industry, from airlines and hotels to restaurants and local attractions, when almost all national borders were closed and many countries imposed lockdowns. As we slowly emerge from the worst of the pandemic, resorts have the potential to adapt their practices to fit with COVID-safe regulations and lure international travelers to their lobbies.
Resorts are poised to be the next big thing in post-COVID travel, as they are able to better control social distancing between guests and limit access in and out of the resort. As many resorts have all-inclusive options that include food, drinks, activities, and more, an all-inclusive experience takes away the necessity to actually leave the resort. With most local touristic attractions closed or with limited access in order to maintain social distancing, a resort can provide a full vacation experience where guests can spend their entire vacation on-site and don’t have to worry about possible lockdowns that would limit their vacation activities.
Resorts and hotels are rethinking arrival, departure, and leisure experiences through traffic circulation patterns, furnishing arrangements, and socially distanced common spaces. Think of a tightly controlled environment with transformed public spaces like lobbies, restaurants, and bars that are both COVID-safe and comfortable. Luxury resorts are thinking outside the box, some are even contemplating growing their own food in gardens and greenhouses to offer guests fresh, high-quality organic produce, limiting contamination by produce.
Hoteliers are hoping that options like all-inclusive resorts will help to boost international tourism again. Ho Kwon Ping, executive chairman of Banyan Tree Holdings, predicts that as demand for domestic travel increases, this trend will eventually move to international travel. “I think the worst is over for sure, in terms of the travel industry,” he said. “The only thing that’s really unclear right now is how long recovery will take.”
What first seemed like a disastrous situation for investments in the hotel and tourism industry, could turn out to be a unique opportunity to get in on the ground floor of new ventures in the tourism industry. Ricardo Larrosa Montero, Senior Partner at Emersion Capital, a multi-family office based in the UK that specializes in investment planning and financial consulting, agrees that the worst is over for the tourism industry. He remarks, “Even now when the hospitality market is operating at less than 20%, we continue to assist our clients in reaching new markets and new venues. Our hope is that in the next few years, when the market recovers, we will be able to focus on building and expanding our hotel brands.”
Larrosa Montero holds high hopes for the return of global tourism. “Our clients are looking to open new resorts in Africa and Asia, that will not only boost the local hospitality sector, but will also grow our global network of hotels and resorts.” These expansion plans aim to support local economies while providing international tourists a safe and enjoyable hotel stay.
Contact:
Ricardo Larrosa Montero, Senior Partner at Emersion Capital
Email: ricardo@emersioncapital.com
Website: www.emersioncapital.com
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