It is no news that the Covid-19 pandemic affected many sectors of the Nigerian/World economy. One of the hardest hit happens to be the Hotel Industry.
The Hotel industry felt the impact when the Federal government shut the economy in April, all businesses in Lagos, Abuja and Ogun states were asked to lockdown completely. Only the ones offering essential services were exempted.
Hotels are not considered among essential services providers unfortunately. Only few that were used as isolation centres by the government were allowed to operate.
As might be expected, the disadvantageous effects of the shutdown were huge. Revenue suffered greatly, many hotel staffs lost their jobs, the value chain has been affected.
Companies that deliver essential products, see little or nothing in terms of patronage. Many Hotels that run on brand franchise are also struggling, there is a commission they send to the franchise annually and due to the present challenges being faced, most of them can barely meet up.
Some hotels are established on a rented space and whether there is patronage or not, they have to pay the bills. They do not even know their fate when things go back to normal as people are still scared and worried about the virus, hence, prefer not to stay in Hotels. Everyone is trying to be careful and stay alive.
They can only hope things get better and return to normal or find a way to fit in to the new normal.
