WHAT WILL THE FUTURE OF HOSPITALITY LOOK LIKE? BY SONIA CHENG CHIEF EXECUTIVE OFFICER ROSEWOOD HOTEL GROUP
Travel and hospitality has continued to show strong signs of recovery. Although COVID-19 continues to cast its long shadow across economies, especially in Asia Pacific, the gradual reopening of borders and lifting of restrictions have been exciting to say the least. According to a September 2022 report from the UN World Tourism Organisation, tourism in Europe and the Middle East showed the fastest recovery from January to July 2022, with arrivals reaching 74% and 76% of 2019 levels respectively. While Asia remained 86% below 2019 levels during those early months, we see lots of reasons to be optimistic as the relaxation of border restrictions continues to pick up pace. We have seen the unleashing of pent-up demand as avid travellers go back to doing what they love most.
At home, Hong Kong has made considerable strides to support and encourage the return of international travel safely. As a Hong Kong headquartered company, Rosewood Hotel Group is confident in the outlook for Hong Kong’s travel and tourism sectors and we were among the first companies to convene its global leadership team immediately after Hong Kong’s reopening (0+3) for our annual meeting. Joined by our leaders and hotel managing directors from all corners of the world, we used the annual meeting to reflect on how travel has changed, and how corporates including Rosewood must adapt. The pandemic has done more than change the ways we live, work, and socialise. It has caused many of us to dig deep and think about what truly matters to us, shaping our actions and habits accordingly. At Rosewood, we have observed XX 06
