Last week, HVS hosted three global webinars in the same day starting with one for Asia Pacific, moving to one for EMEA and then finishing with one for North America.
During each webinar, experts from across HVS’s global teams provided their thoughts and insights on how they view the recovery process for the hotels in each part of the world and the major challenges being faced. There were some fascinating insights to be heard, so please do listen to the EMEA session, to be heard via YouTube below.
A few key insights:
- 2021 is showing a moderate recovery
- Full recovery, against 2019 figures, will be achieved in 2023/24
- Acquisition strategies have begun with an eye on 2022
- China has shown strong recovery figures but it has been more difficult for S.E Asia
- Europe and North America too are recovering well
- Australia saw close to 80 hotel transactions during the last year which was impressive.
- India has been a slower recovery but improving fast as the vaccine is rolled out to impressive numbers.
- Many Indian hotels have learnt through the pandemic that they can operate to different staffing models and are adapting
- Innovation and services are becoming increasingly important
- Interestingly, there was some concern that ESG and Sustainability strategies were not yet central to many.
- On the challenge people, flexible work has become core and every company needs to strategise on how it can make its hybrid models more effective, plus also reward attractively to ensure that it can entice the best talent.
- Culture, inclusivity and values are also very important in attracting talent.