Daily Bulletin

Food & Dining

  • Written by News Co


The pandemic of the Covid-19 virus hasn’t spared anyone. But, the worst was for the restaurant and hospitality industry. We’re not going to lie - the situation doesn’t look good. “New Normal” isn’t that normal for this industry.


Since February, 7.5 million people have lost their jobs in the restaurant and hospitality industry. That is all because of lockdowns, which forced people to stay home and not to travel. Those lucky ones, who kept the job, are working for reduced wages and hours.


The situation with revenue losses is alarming. In total, the projection of hotel losses is at a level of 50% for 2020, while restaurants have lost $120 billion during the first three months of the pandemic according to Kitchenall equipment research.


The hotel occupancy rate was at an unbelievable level. It was just 24.5% of capacity, which is under sustainable 35%. That put 33000 small businesses at risk of closure.


Because of all stuff that we mentioned earlier, a lot of businesses decided that the best solution for them is to be closed. In numbers, 1.163.735 businesses have closed on Yelp. It is clear that this industry will have a lot of problems in getting back on track.


So, what are the predictions for the period ahead?


Only 17% of people willing to stay in hotel rooms, but only when a vaccine becomes available. And, 50% of people have no intention to go to restaurants immediately.


There is a belief that technology will help in the minimization of human-to-human contact. Till then, ⅓ of restaurant customers and 40% of hotel customers have will to pay more for increased safety precautions.


Tug of war between survival and reproductive fitness: how chameleons become brighter without predators around

arrow_forward

South Australia's Limestone Coast was formed from the bones of dead fish. Cathedral brings the story of these caves to the stage

arrow_forward

The Conversation

Business News

Fuel free ‘power generation’ business seeks partners to roll out across the world

Australian entrepreneur, Aaron Pascoe, is about to revolutionise the world of power forever using the GGOE Mechanical Gearbox – and he is seeking partners to roll out the technology across the world...

Tess Sanders Lazarus - avatar Tess Sanders Lazarus

How Dropshipping Beauty Products Can Turn Around Your Fortunes in The Movie Industry

The Movie industry has become so popular and getting larger; this is so evident in how China, Korea, and Japan are dishing out world-class and very historical movies. The production of movies has ...

NewsServices.com - avatar NewsServices.com

Finance management in Australia

In today’s modern society, financial management ranks high as one of the most significant life skills that everyone must possess to achieve success. Money is a valuable tool that can lessen the ha...

NewsServices.com - avatar NewsServices.com