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Published on Monday, September 28, 2020

Majority of luxury hoteliers say worst of crisis is over

Over half of luxury hoteliers surveyed by Forbes Travel Guide believe the worst of the coronavirus crisis is over, with two-thirds believing business will return to sustainable levels within two years.

According to Forbes' second Leading Edge of Luxury Report, 84% of the 418 respondents are now fully or partially open to the public, compared to 56% in the inaugural July report.

Of the remaining that are closed, 63% plan on opening in the fourth quarter. 

The others say not enough demand and government travel restrictions are the main reason for delaying opening further.

Although 54% believe the worst of the crisis over, many indicated that recovery won't be easy.

One hotelier said: "I think the current situation will continue for a long time, but I don't think it will get any worse."

Another said: "The worst is over; however, the expected slow recovery time may be worse than the outbreak."

A third said: "This will be a long battle until we find the cure for the virus we continue to stay vigilant and continue to educate the team of not losing momentum in safe-guarding ourselves and our guests' health and life by following all required procedures."

Almost two-thirds (64%) have seen a higher than typical proportion of leisure guests compared to business guests and 78% of properties are welcoming more local and regional guests.

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