After losing control of their business through OTAs’ aggressive cancelation policies and reactions to the crisis, hosts realized there’s more at stake than the commission they pay.
Times are tough right now, there’s no doubt about it. And as the COVID-19 pandemic prolongs, it only seems to be getting worse for property managers.
COVID-19 has sent the hospitality industry into a state of flux. With flights grounded, bookings cancelled and employees laid off, travel is on pause.
Since the outbreak of COVID-19, travel restrictions have devastated the hospitality industry. With flights grounded, bookings cancelled and short-term rentals banned, hospitality providers are struggling to find their footing.
There’s no sugarcoating it—times are tough for the short-term rental industry. With the coronavirus pandemic wiping out travel, revenues are at all-time lows.
While the coronavirus pandemic has convinced many hotels and short-term rentals to close their doors, there are a few choosing to stay open. Those still operating have been forced to capitalize on every opportunity.
COVID-19, or the coronavirus, has officially reached pandemic status. Over 100 countries have been affected, many of them declaring a state of emergency, closing businesses and shutting borders.