BY HENRY VERGNAUD, MY JOB GLASSES MENTOR
Article translated by Thomas, Content & Communications Specialist @ My Job Glasses.
Click here to check out the original article in French.
In this article, I aim to share my perspective on the current situation and future challenges of the hotel industry on a post-Covid era with all aspiring hoteliers.
Whether you are studying, looking for an internship or perhaps seeking your first job in the hotel industry, I hope this information will help you make the right decisions. Let’s go!
KEY PLAYERS WITHIN THE HOTEL INDUSTRY ARE LOOKING FOR NEW POST-COVID OPPORTUNITIES
The Covid crisis has triggered numerous hotel transactions around the world: sales, repositioning, rebrandings, mergers and joint ventures. The main players are hotel companies looking for post-Covid growth opportunities or opportunistic investors. All of them have one thing in common : they are betting on an obvious rebound in the industry once the pandemic ends! While the most optimistic hotel industry professionals are expecting to go back to pre-Covid levels in terms of business in 2024, the wisest are betting on 2025.
Leisure hotels will be the quickest to go back on track once the pandemic is behind us. Many people have been saving their money during the Covid crisis and want to “revenge-travel”, meaning they see travelling as a way to forget past restrictions and reclaim their freedom. Lifestyle hotels, which represent an alternative to the traditional luxury hotels and are very popular among the new generation, are also likely to become as popular as they were before Covid appeared in our lives.
On the other hand, the hotels targeting a business clientele will have a harder time. The crisis has shown their clients that there is more than face-to-face seminars, training sessions and budget meetings… Remote work is here to stay and it requires less business trips. Technology, both cheap and effective, is doing wonders for remote communication and management nowadays.
THE HOTEL INDUSTRY WILL INEVITABLY EVOLVE POST-COVID
The pandemic has impacted the view people have on their work-life balance. For instance, hotels and restaurants have been experiencing many difficulties in rebuilding their teams for some time now, due to the current shortage of staff within the sector. This is likely to become even more apparent when the sector fully recovers.
Hoteliers know that they need to change their approach to management. Some hotel companies are even considering removing certain layers of management to reduce salary costs. They will then hire other employees and give them more training so they can perform more tasks and assume more responsibilities. In the end, these fewer hires will enjoy higher salaries, which will make their positions more attractive.
WHAT ARE THE MAIN OPPORTUNITIES FOR THE HOTEL INDUSTRY ON THE POST-COVID ERA?
The hotel transactions mentioned earlier in this article promise great job opportunities for the new generation. Hotel groups in particular will multiply their efforts to create strong HR structures, to stand out from their competitors by offering unprecedented training and development opportunities to their employees. In an effort to attract the best young talent with the aim of boosting their current activity and ensure their future business, the wisest hoteliers will create a more pleasant working environment for their employees, including more appropriate salaries and benefits. Deciding to gain field experience in the period leading up to recovery in the hotel industry, may be a smart move to position yourself for promotion when the time comes.
You may also direct your job search on hotels located on popular touristic spots. If you are considering an experience abroad, be aware of health restrictions, not to mention existing or future migration limitations.
The hotel industry is now evolving in different ways. Many hotels are changing their core business. The concepts of multi-family hotels, short-term rentals, residences, student residences and senior residences, just to name a few, are already a source of many jobs. Whether you had considered them or not at the beginning, keep in mind that these new models can be real game changers when it comes to your career.
You may also think about the lifestyle hotels described at the beginning of this article such as Faena, Hoxton, Aloft, Moxy, 25Hours or Glow Hotels. Often launched by large hotel chains, these brands are destined to welcome more and more customers and thus also create new jobs.
The hoteliers of tomorrow (of whom you may be part of), will soon have the keys to this new and improved hotel industry, one that will be able to overcome any future obstacles. Good luck to you all!
Would you like to talk to Henry about the future of the hotel industry? Click here to contact him on My Job Glasses!