Yesterday’s vaccine announcement was a welcome relief - not only for the Hospitality industry- but for every business and individual affected by Covid19.
At the close of business on the London Stock Exchange yesterday afternoon, hundreds of businesses reported leaps in their share price. Bizzon customer Accor Hotels saw an impressive increase in its share price after the announcement - an incredibly positive sign for Europe’s largest Hotel group.
We must remain cautiously optimistic, but this is a fantastic step in the right direction. After a horrendously tumultuous year, light is finally at the end of the tunnel. Health Secretary Matt Hancock has said that it was "absolutely a possibility" that the vaccine could be deployed by the NHS by Christmas with mass roll-out "in the first part of next year". Could life actually return to normal in a few months time?
Hopefully in early 2021, normal trade will commence meaning a welcome injection of revenue into hotels, restaurants and bars. As a consequence we should also see a decrease in unemployment rates. Traveller confidence will return, meaning an increase in tourism as airlines are able to commence regular flight schedules.
If Covid19 has done anything remotely positive, it's forced F&B operators to become more agile. What positive lessons can (and should) be carried forward in 2021?
We hope that operators continue working towards a more flexible operational model. If these changes can yield success in a global pandemic imagine what they can do for your business in a ‘normal’ world.