Published on Monday, September 28, 2020
Over half of luxury hoteliers surveyed by Forbes Travel Guide believe the worst of the coronavirus crisis is over, with two-thirds believing business will return to sustainable levels within two years.
According to Forbes’ second Leading Edge of Luxury Report, 84% of the 418 respondents are now fully or partially open to the public, compared to 56% in the inaugural July report.
Of the remaining that are closed, 63% plan on opening in the fourth quarter.
The others say not enough demand and government travel restrictions are the main reason for delaying opening further.
Although 54% believe the worst of the crisis over, many indicated that recovery won’t be easy.
One hotelier said: “I think the current situation will continue for a long time, but I don’t think it will get any worse.”
Another said: “The worst is over; however, the expected slow recovery time may be worse than the outbreak.”
A third said: “This will be a long battle until we find the cure for the virus we continue to stay vigilant and continue to educate the team of not losing momentum in safe-guarding ourselves and our guests’ health and life by following all required procedures.”
Almost two-thirds (64%) have seen a higher than typical proportion of leisure guests compared to business guests and 78% of properties are welcoming more local and regional guests.