COVID-19 and Hospitality: 7 Alternative Ways to Cut Costs and Save Your Business...BEFORE Resorting to Layoffs

The hospitality industry is entering uncharted territory. As concerns surrounding the continued transmission of COVID-19 continue to mount, we find ourselves isolated in our homes, unsure of when this pandemic will pass. What does the future hold for our communities? Moreover, what will this crisis mean for those businesses who have ceased operations due to recent recommendations and mandates for complete shutdowns?

There is no denying that from a business perspective, travel and hospitality have taken the brunt of the pandemic's economic impact. Hotels and airline companies have suffered unprecedented losses as escalating numbers of cases spark travel bans and social distancing protocols across the globe. This is a frightening and uncertain time for many of us. However, let me remind you: Our industry has pulled its way through many economic and political hardships, most notably including 9/11 and the 2008 Great Recession. While each of these crises presented the travel industry with enormous short-term challenges, we have always emerged stronger on the other side.

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