Before the Pandemic situation, the hotel industry was divided by the franchise and unorganized individual business bodies. Sometimes, those domestic and stand-alone businesses come under the umbrella of an international franchise.
Last 5 years, with the growth of the travel domain, the hospitality industry has also seen a huge expansion of demand. Both in terms of room rate and occupancy, you can see a stiff graph. The increased corporate travel is also another reason for the growth of the industry. Along with that, the leisure travel both in domestic and international domains helps the hospitality industry as well.
However, the demand has dropped drastically in the Covid-19 situation. The people who are still traveling domestically looking for branded hotels only for better security, safety, and hygiene. This trend will stay in the coming days even after the situation will over. So it is a win-win situation for the branded hotels you can say.
So, if you already own one and after receiving the wrath of the Pandemic for the initial days, thinking that to call the Hotel Franchise Attorney to terminate the agreement, then you may be wrong. The trend pundits have predicted that the hotel franchise will witness more demand in the coming days.
It can be said that the demand for traveling will be increased after the opening of the lockdown situation all over the world. After staying confined within the walls of the house, people are already eager to travel around the world. However, they will take as many precautions as they can. And for that, they will prefer the branded hotels over the small stand-alone venture.
Even some people are staying in the hotel in order to escape the monotony of their daily life in lockdown. So, it is time to redesign your marketing plan to capture the trend.
If you have a standalone hotel, then maybe it is time to think again to survive. Maybe, it is the time you should consult with the Hotel Franchise Attorney so that you can tie up with some known name in the industry. They already have the basic structure and infrastructure with them. They need to do some additions for the realignment with the franchise. It will provide instant credibility in your business. It will not only help everyone in this hospitality industry and eventually, but it will also be beneficial for the hoteliers, local government, and other neighborhood businesses.