siliconindia | | OCTOBER 20228LEARNING FROM THE HOSPITALITY INDUSTRYIN FOCUSPost-pandemic, after the outbreak of the coronavirus attack, the world moved to a sudden standstill. Recovery was slow and dismal for a plethora of industries including the hospitality industry, where the progress of the hospitality and tourism industry was supposed grim. The world, when hit by the life-threatening disease, businesses were shut and shops quickly tried to combat the adverse effects. The hospitality industry started cutting costs, downsizing staff members, and restoring online mediums for garnering business opportunities.Effects of COVID-19 on Hospitality SectorStudies show that consumers spending on different sets such as traveling, eating out, entertainment, and much more, was low. The focus was staying on the basics such as groceries, internet, and mobile services. The indications were clear, that there was still some time for the hospitality industry to reach the glory of pre-pandemic times. It is equivalent to the businesses that depend on the travel and tourism sector that are likely to suffer. Hotels were dependent on the revenue that was generated from business travelers. With the given scenario, there was time to recover and with the death of many organizations, which funded business travel, it was almost about 5-10 percent of the same would never return. This made it ingenious that businesses should keep a close watch on the trends that determined the future of the hospitality and tourism industry. An establishment of the digital world made the visions an actuality. The pandemic made it clear that it is an inevitable aspect when people had to turn to shops, socialize and entertain. It's an outbreak of an inseparable
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