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 26 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.