Resilience and recovery were the overarching themes of the Tourism Accommodation Australia NSW Hotel Market and Economic Outlook forum held last week.
Hotel operators have been urged to "be realistic" as tourism bears the brunt of the coronavirus pandemic.
More than 200 industry leaders packed the Primus Hotel Sydney last week for the Tourism Accommodation Australia NSW Hotel Market and Economic Outlook forum, which had speakers from key sectors of the industry including Hostplus, data analysis firm STR and Dransfield Hotels and Resorts.
With much of the discussion focused on COVID-19 and the subsequent travel bans, TAA CEO Michael Johnson told WILLIAMS MEDIA businesses needed to focus on adapting to the new environment while also remaining positive.
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"Operators need to look at their expenses and try to contain costs, which a lot of them are already doing ," he said.
"I'm sure there will be annual leave programs put in place to protect jobs because it is going to be a tough few months.
"They also need to be prepared for when the markets return and we find ourselves in a healthier situation with a lot of pent up demand."
The forum comes after the federal government announced a $7.6 billion economic stimulus package designed to soften the blow of the pandemic for businesses.
TAA NSW and National CEO Michael Johnson with Greg Clerk from Hostplus. Source: TAA
Measures included $1 billion to assist severely affected regions through the waiver of specific fees and charges, along with the further promotion of domestic tourism.
Mr Johnson said TAA was working with the government to ensure the talk of assistance became action.
"Ultimately, the recovery will come from domestic tourism," he said.
"Hopefully, we are able to contain the virus to an extent we are able to recover quickly and get back to business, even if it is just domestically.
"History tells us we are a resilient industry and we will survive, but there are certainly some tough times ahead."
Mr Johnson's sentiments were echoed by Dransfield Hotels and Resorts Owner and Managing Director, Dean Dransfield, who said while there was no hiding from the realities brought on by the spread of the virus, there would be a way forward eventually.
“It’s not the end of the world and we will recover," he said.
"Maybe not as quickly as during past events but we will recover.
"And we don’t have a (room) supply problem in Sydney.”
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