Restarting travel report shows that the Hospitality & Leisure sector has come face to face with a number of external forces that have combined to put previously unseen levels of pressure on the profitability, reputation and offering they had become used to prior to the Covid-19 pandemic. However, the sector is seeing travel businesses return to confidence.
The travel industry remains highly confident of a prosperous road ahead, disagreeing only on the time it may take to get there. Businesses in the sector are better placed, however, to navigate unpredictability following Covid-19. And they are well equipped to handle the rising cost of living, at least in the short term, as demand increases among pent-up consumers for holidays once again.
Head of Hospitality and Leisure, Barclays Corporate Banking
There is a renewed focus on trust in an industry that has adapted to a new normal and can provide adequate protection for holidaymakers once again.
The shift in digital booking habits, too, is moving rapidly in favour of direct reservations either online or by phone, further reflecting the increased trust in operators to offer a quality service to the expected standard.
The industry remains highly confident of a prosperous road ahead, disagreeing only on the time it may take to get there.
The past two years have seen businesses globally take a journey through unprecedented levels of uncertainty as they made sense of the Covid-19 pandemic and its impact on their business models.
The travel sector was no exception. According to The Travel Network Group, travel agents and operators – along with airlines, airports and cruise lines – were at the forefront of the upheaval.
Like many businesses in the travel sector, villas with private pools tour operator Villa Plus faced difficulties during the pandemic in terms of financial challenges, and dealing with the consequences of travel restrictions. Now, however, there is a flip side. Holidaymakers, it seems, when limited to a “staycation”, got used to self-contained accommodation. And now, they are ready and able to book their own exclusive place to stay in stunning locations.
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