Published at 23.12.2022
Dear readers,
The year is slowly drawing to a close and we are looking back at the year 2022. Compared to the previous year, the hotel industry was able to gain considerable momentum. From June onwards, it even almost returned to its pre-crisis level. However, for the full year, the loss was still close to 10% compared to before the pandemic.
The industry has suffered losses of almost €74 billion over the last 3 years! More frightening might even be the loss of nearly 120,000 employees. Higher wages or other incentives will not attract enough new blood to hotels. We will go into detail on how to counteract the staff shortage in our next newsletter. The magic word is digitalization.
Let's get back to the evaluations from this year.
The result of these figures is a difficult situation and a period in 2023 that will continue to be challenging, especially due to inflation and the energy crisis. Experts are predicting another loss in 2023, which will result from the fact that fewer and fewer people will be able to afford vacations. During the summer vacations, sales could approach the pre-crisis level. However, profit generation will depend on the extent to which hotels can pack additional costs into price increases.
However, we should of course look positively into the new year.
Don't let it get you down. After the complete travel stop during Corona, we shouldn't really be afraid of anything anymore. We survived the ultimate test with Covid, we are still here. Even the worst economic crisis cannot bring such dramatic consequences. I would like to encourage you for the next year, you will overcome the difficult time.
The whole Waitz Consulting team wishes you, your colleagues and your family a merry Christmas, reflective days between the years and a good start into 2023.