Accommodation sector taking a hard knock

Writer: Stuart Cohen CabinCare Property Management & Project Specialists.

As we all adjust to life in lockdown and the uncertainty of what lies ahead, writing about the state of the holiday rental market might seem like a slap in the face by a close friend. If ever there was a time in my life when I wished I had a crystal ball on my desk, it is now. The global future has never been as difficult to imagine as it is at the moment. Some older folk are even comparing the cataclysm of this pandemic to that of World War II.

In our small part of the world, where the local economy was starting to show positive signs of recovery after the 2018 riots, the lockdown is having a devastating impact on the short- and long-term accommodation sector. There isn’t anyone with a hotel, guesthouse, bed & breakfast or Airbnb room-to-let that hasn’t taken a financial bath in the past two months and the predictions for the rest of this year are already looking pretty gloomy.

Click below to read more. (The full article can be found on page 8)