VERTU HOTELS AND RESORTS
CEO PUBLICATION │ 05 DECEMBER 2020
CEO PUBLICATION │ 05 DECEMBER 2020
With the international pandemic currently going, the hospitality industry has been suffering very hard since Q2 of 2020. Most hotels are running extremely low occupancy if not closed. Bars and restaurants are on a roller coaster pace, from limited number of customers, all the way to total closure. So, what is next ? For VERTU HOTELS AND RESORTS ' CEO - Gerald Lampaert, it is a combination of lots of sadness for the industry and also a subsequent boost of opportunities. He states :
" Since the beginning of the pandemic, the travel, hospitality and the Food & Beverage industry has been totally dependent of the instructions mandated by every single governement in the world. Some decided to keep everything open, some others tried various solutions from half capacity to total shutdown. Was there any good solution ? Time will tell, but the result today is that most of our peers in the industry who are not part of big groups or solid enough to keep up for more months of non-activity, will be at risk and in jeopardy with the sustainability of their businesses. From the greatest to the smallest, many already closed doors for ever ! So, what is the take away ?
We now truly realize that the business model of our hospitality industry is changing and definitely for hotels. What matters the most is the cashflow, first and above ADR and occupancy rate, because this is what will always keep ownership in business during extreme crisis like the one we all Iive right now.
We are forced to revisit and re-think the way our business is operating both from a general workflow stand point and from a sanitary point of view. From check-in to floor operations, all the way to check-out - every touchpoint is to be revised, redefined, adjusted and sometimes completely changed.
More than ever, technology has a predominant place in the whole guest journey. Starting from online booking, pre-checking, keyless access management, digital concierge messaging, contactless payments, digital menus and room directories, BYOD in room total control, and self-checkout; Customer Centricity is the key strategy from now on while keeping high level of services..
Where some large hotel groups had no other choice than reducing their corporate staffing and scale down development, others, like us at VERTU Hotels and Resorts are able to remain in business and actually grow our market share, simply because our economic and operational model is less demanding, more aggressive and more flexible to the total benefit of ownership groups. Since two months, we are actually growing our team with more and more robust skills and experienced professionals in the industry. We are currently working on 12 simultaneous projects including development, management and consulting services for various investors. After exactly two years of existence, this downtime period is actually boosting our operations faster than expected, especially with owners and investors taking the opportunity of low occupancy to perform renovations and constructions.
As much as we are very sad for our colleagues who are suffering right now, we are able to be ahead of the game and probably ready for the relaunch better than anyone else. Our RELOAD corporate meeting of last week did prove this assumption and gave the opportunity to introduce new team members to the group. Together we have a solid and ready to go strategy to help our investors and property owners recover from the crisis faster than other management companies.
Our combination of four business segments including Branded Hotels Management, Independent Hotels Management, Affiliation Program and Asset Management & Consulting Services - is the strength of our growing success“.