MARKET TRENDS IN POST COVID 19 HOTEL INDUSTRY

A hotel is a type of business that caters to travelers by providing them with a place to stay while they are in town. Hotels not only provide guests with the means to meet their most basic needs during their travels, but also to unwind, have fun, do business, and better their health while away from home. It is the goal of many modern hotels to give visitors with personalized service and an unforgettable stay. This objective is attainable through the efforts of hardworking staff members, a welcoming atmosphere, and a range of services adapted to the needs of a targeted demographic. The new coronavirus epidemic has presented substantial difficulties for the hospitality industry. Demand for hotel services dropped, as did guest behavior, but the financial viability of hotel businesses also took a hit. As a result, hotel workers now have to worry about both contracting the disease and losing their jobs in an economic downturn. Because of its dependence on its supply chain partners, hotels cannot operate in isolation in the marketplace. This means that when hotels have difficulties, the issue is sent up the supply chain to the hotels' primary suppliers. This article's objective is to provide a synopsis of COVID-19's effects on the hotel industry and the ramifications these have for HRM, CSR, DM, QM, and SCM as these departments adapt to the new reality.