“As the effects of COVID-19 spread across the entire world, the primary focus for governments and businesses is the safety of their people. Whilst this focus will continue, the implications for economic growth and corporate profits have to lead to a sharp sell-off in equity markets across the globe,” according to an article recently published by Deloitte.
The Deloitte article says that hospitality businesses should assess the impact on Occupancy and RevPAR and create a plan to mitigate, while investors need to investigate how their operators are affected and identify the type of contracts that are applicable (lease or management).
Deloitte also urges to proactively manage key stakeholders and keep plans under active review. The full article is available on the official website of Deloitte.