Shalom Lamm is a real estate developer who has a keen understanding of the ways in which property owners have to respond in times of crisis. Indeed the Coronavirus pandemic is a health crisis of a magnitude and sheer scope, the likes of which we haven’t seen before. And without a doubt it has already had tremendously deleterious effects on economic conditions and various facets of the economy.
Analysts and observers like Shalom Lamm have recognized that these downward trends can spark unfortunate economic situations for the hospitality industry, and all involved. It’s important not to lose sight of the amount of people and how all-encompassing the hospitality industry is.
Often times the word is thrown around loosely, and for that reason it’s almost as if all those involved in the industry who play such a vital role in its success are dehumanized. But the reality is that the hospitality industry is comprised of so many different facets and aspects.
Firstly, there is of course the hotel staff and maintenance employees. Then of course there’s the senior management and their subordinates. And of course, all of the staff that work so rigorously in working tirelessly to enhance the stays of visitors, wherever the resort may be located.
So much goes into running a successful and effective hospitality operation that can easily go unnoticed, given the complexity and nuances of the business. The Coronavirus health pandemic has surely turned much of this absolutely upside down. This is a fact that needs to be recognized.
The industry is suffering greatly – with far fewer visitors vacationing; and of course with so many concerned with all sorts of safety precautions, and justifiably so . As such, the commercial aspect of the business and the broader industry have already had very detrimental effects. This will likely persist, until there is any light at the end of the tunnel such as a vaccine or something even more substantive.
In the meantime, the industry has done all it can (for the most part) to keep itself above water. But it surely has come at a great cost, and with tremendous challenges associated with it . With cashflow having dried up for hotel operators, there are reduced and limited amounts of options at hoteliers’ disposal. Let’s hope the pandemic becomes a thing of the past, soon enough.