2021 is likely to be an experiment but at least it will be the start of ‘the road back’ to a radically changed landscape. Iconic landmarks, now devoid of people will become an image of the past.
Arc Consulting Partners have been active in this period. We have seen some venues and concepts (backed by longer term investors) planning for expansion that will create benefits, value or potential exits 3-5 years ahead. These have included city centre branded businesses, large scale meetings venues and rural and coastal leisure hotels. Hotel clients are busy recalibrating their businesses in the light of todays new market challenges. Tourism masterplans (see our article here on Botswana) have been delayed but will progress when travel restrictions ease.
We do not underestimate the challenge or the timing of recovery that is likely to be more prolonged than many more optimistic forecasters predict, our experience has been that those with long term strategies have continued to plan ahead and that portfolio investors have put in place business models and strategies for exit post crisis. Hotel clients are busy recalibrating their businesses in the light of todays new market challenges.
We would also like to thank those that contributed to our Path To Reset panel video sessions (from ETOA, EY, Taylor Wessing, C1Capital, Hilton, Dexter Moren) but also those at STR Global, TMHC Hospitality Insights and the Hospitality Tomorrow whose conferences provided much needed multi-disciplinary insight into the evolving crisis as it occurred.
These events and sharing of sector expertise showed how teamwork amongst the various professionals can add value in a number of ways to our clients and the challenges they face going forward.
We look forward to helping provide objective independent input to established businesses seeking to recover and thrive again and help identify opportunity for those looking to the sector for the first time.
With our best wishes for 2021.
Douglas Grant, James Munro, Jim Fletcher, Steve O Hara, Geoff Dobson, Nigel Teasdale.