Experts in the hospitality, travel and related sectors have stated that in a post-COVID-19 business world, only companies that are agile and quick to innovate will be productive and see a rise in earnings in the last quarter of 2020.
This assertion was made at a video-conference “Impact of COVID-19 on the Hospitality and Tourism Sectors in Nigeria.”
The conference, organised by Hotel Expo Nigeria with support from Women in hospitality Nigeria, WIHN, Aviators Magazine, The Hayche Network and Businessday media, held on Zoom.
The panelists at the conference were Obi Mbanuzuo, Dana Airlines MD, Aisha Yusuf of Hayche hospitality network, Amaka Amatokwu founder of WIHN, Jihane Khoury, Rooms Division Manager, Ekohotels, Bruce Prins MD of MP hotels, Tunji Andrews, Economist and Financial Advisor and Jonathan Hanson, brand and marketing consultant of Milewave communications.
The event was moderated by Ekwi Dashur.
At the session, panelists examined the past, the present and the future of the hospitality and tourism industry.
In his remarks, Mr. Andrews pointed out that there may be an economic recession in Nigeria once regular commercial activities are resumed adding that it may affect local leisure activities.
Also, Obi Mbanuzuo of Dana stated that the plans the airline industry was making to survive the new ways of travel that will arise after now.
Mbanuzuo also stated that while the plan of the Central Bank of Nigeria, CBN, to provide a stimulus package for the commercial sector was laudable, it would be more beneficial for the domestic carriers if the VAT was removed.
On his part, a US-based hospitality practitioner, Olaolu Akingbola explained how the United States government was coming up with packages and policies to sustain the hospitality and tourism sector post-COVID-19 business era, to the benefit of global trade.
Amaka of Women in Hospitality, Jihane of Eko Hotel and Bruce Prins of MP hotels all agreed that the hospitality industry needs innovative ideas and concepts to continue to attract patronage from their local and international guests.