Momentum - Business to Business Online Magazine MOMENTUM April 2020 | Page 28
HOSPITALITY
TEJAL N. PATEL
Opening Manager
Fairfield Inn & Suites by Marriott League City
832.722.3927
[email protected]
How TOURISM and
HOSPITALITY BUSINESSES
can help themselves during
the COVID-19?
C
OVID-19 has rocked entire countries and
every single industry imaginable. The
tourism and hospitality industry has been
no exception and every sector has been
shook to the core. During this time, I’d like
to offer some practical tips that can be useful for all
industries as we all navigate this unprecedented time.
There are relief efforts available so take advantage
of any government subsidies that can help with payroll,
property taxes and even refinancing. There is a ton of
information available out there so talk to your lender or
financial advisor to see what is the best route for you.
The SBA website is one of the most useful resources
available to business owners right now.
With the slowdown, now is the perfect time to do
that renovation you were putting off or complete some
repairs and updates.
Don’t slash your prices in an effort to boost more
demand. Businesses who do so tend to suffer more
losses and take much longer to recover.
Curb your marketing spend: we are in a global health
crisis where traveling has been discouraged. You can
have the most phenomenal marketing campaign in the
world, but no one is going to travel to you while this
crisis is going on.
Even though you should cut down
on marketing dollars, that doesn’t
mean you should disappear from
people’s minds. Harness the power
of social media to stay relevant.
Comment on other business’
content and share posts on your own
platforms but remember to practice
sensitivity during the time.
There are relief efforts available so
take advantage of any government
subsidies that can help with payroll,
property taxes and even refinancing.
There is a ton of information
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MOMENTUM
available out there so talk to your lender or financial
advisor to see what is the best route for you.
Try supporting local businesses when you can, even
the franchised ones. Most franchised businesses are
independently owned and operated. In reality, these are
just small business owners who are paying fees to these
large multi-million dollar corporations to use their name
to conduct business. Behind the scenes is someone
from your community who could use all the support
they could get.
With that being said, buy gift cards from your local
restaurants, hotels and local attractions for future visits.
Any revenue will help keep these establishments afloat
for the time being, and you can give these vouchers to
clients later on. Even better, you can reward yourself
later for your social distancing efforts!
Thousands of employees have been laid off,
furloughed, or are spending more time at home.
Believe it or not, this is an excellent opportunity to
brush up on skills or gain a new one! Edx, Coursera,
and Udemy have hundreds of FREE courses available in
many different fields. The American Hotel and Lodging
Association Foundation has put together free courses
and training on their Hotels for Hope website (https://
www.ahlafoundation.org/relief) now through April 30.