The economic crisis caused by the coronavirus has been a severe blow to many companies. HoReCa businesses are among those that have faced great challenges and limitations imposed by the authorities. Even now, they cannot operate at full capacity, which is why some of these companies have chosen not to open their doors.
Looking back at the period of isolation, Simona Constantinescu, CEO of Ana Hotels, told a magazine dedicated to the hotel industry that the measures adopted by the team she is part of were aimed at managing the crisis in the most efficient way possible: "prioritizing the relevant actions from from the point of view of employee and customer safety, optimizing the use of working capital, interrelationship with state authorities and professional associations and adapting measures to external factors that have impacted our business". Given the the extent of the crisis caused by the coronavirus, putting into practice a crisis plan as per the book was almost impossible. Things changed quickly, even overnight, so unpredictability and uncertainty were big obstacles.
Challenge turned into opportunity
The period in which the activity was stopped was a good time for investments for the Ana Hotels group. Renovation and modernization works were carried out in the kitchens, terraces and restaurants. All this would have created discomfort for the guests if it had taken place in a different context. So the inability to serve customers was a good time to make all the necessary but always postponed improvements.
Predictions for the future
CEO Ana Hotels (photo) believes that despite the current situation, domestic tourism has an increased potential. Romanians are still reluctant to travel abroad, so visiting the country remains a viable option. "At the same time, we believe that the population will pay more attention to health tourism, looking for stays that include outdoor activities, balneo therapies or tourist packages with procedures and activity programs that improve their immunity, reduce anxiety and stress generated by period of isolation.
Analyzing the scenarios of the very slow recovery of tourism businesses, I appreciate that without additional measures in the medium and long term, some of the companies in the field will cease their activity in the next six months. From an economic point of view, the crisis is just beginning to make its effects felt, and they will be significant with the reduction of aid measures offered by the state. The adjustments and contraction of economic indicators will be visible in the third quarter, and then even more so from the fourth quarter of the year. Probably the summer pre-election period will take over the attention of the population, but the fall will bring many adjustments and risks, both because of the pandemic and the depletion of resources of many companies, which will no longer be able to support business." So, during the summer, entrepreneurs should focus on identifying and implementing effective recovery strategies, so that a second possible crisis in the fall does not bankrupt their businesses.
Source: TrendsHRB magazine
