Let’s take a look at how the Coronavirus may affect the Hospitality Industry

Let’s take a look at how the Coronavirus may affect the Hospitality Industry

There is a growing level of tension about the coronavirus. Restaurants are now experiencing a reduced level of footfall and bookings are dropping as well. The main issue is that this probably isn’t going to improve anytime soon.

Are we Doomed?

Technically, the world of hospitality isn’t doomed. You are probably far more likely to die from the flu when compared to the coronavirus. It’s attitudes like this however that could end up being the downfall of the industry, as opposed to the actual virus.

People are becoming very panicky and businesses are certainly feeling the pinch from this. Corona, who is a famous beer maker have reported that they are now facing their worst quarter in well over 10 years and this all stems from the outbreak. They have reported a £132 million loss in China, and the company Flybe have also collapsed. This is 5 days after the owner of British Airways warned that the virus is going to push some of the weaker airlines into administration. No Time to Die, the new James Bond film has also been delayed. It’s been pushed back months because some are concerned that the virus could really impact the global box office by over $5 billion.

Mounting Hysteria

You may be thinking that this is insane, and understandably so. Some are wary about venturing from the safety of their own homes and this downfall could easily spell disaster for both bars and restaurants. When you look at the combination of unfounded prejudice, fear and reduced tourism, you will soon see that it is more than possible for restaurants to feel the strain. UkHospitality have reported that they are seeing a 10% reduction in bookings and that Chinese operators across the entire UK have been struggling, seeing a 40% reduction in sales.

The Bigger Picture

Low levels of Chinese tourism really has impacted entrepreneurs who are across the western end of London. The numbers at Covent Gardens have been the worst that they have been in two years. Evening bookings have dried up and casual dining traders who operate in airports have also seen a dip in sales.

A Possible Improvement?

So, are things going to start improving soon? Probably not, unfortunately. The risk is small, but the virus is spreading. Those who believe that they might have contracted the virus have been asked to self-quarantine for 14 days. The widespread transmission of the virus in the UK is highly likely and if people are forced to stay in their homes then this will almost certainly affect the hospitality trade. Companies such as Mindful Chef have reported a 165% increase in sales. They are a recipe box service, and this all comes down to a much higher demand for home delivery.

What does the future hold? Who knows, but the restaurant sector is suffering as a result of the virus outbreak.

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