Unprecedented Effects: How the Hospitality Industry Will Recover

There is no doubt that COVID-19 has had an unprecedented effect on the economy in general and the way people live their daily lives.  While it appears that every industry has been affected, some sectors have been hit harder than others, each with its own unique set of circumstances. The hospitality industry is no exception and it appears as if there are both good times and bad times ahead. In the short run, COVID-19 has taken a significant bite out of the hospitality industry, but there does appear to be some light at the end of the tunnel.

Hospitality was one of the first and hardest hit industries by the pandemic because the industry is leisure-driven and largely funded by discretionary spending. The current situation Involving lack of travel, dining out, and attending live entertainment, including sporting events, is of course having an adverse impact on hotels, restaurants and entertainment venues. Moreover, many states and/or counties are under “stay at home” orders where…