The Bureau of Labor Statistics says the hospitality industry has been among the hardest-hit during the coronavirus pandemic. But some are using the pandemic to test out new adventurous revenue streams amid the pandemic.
With the industry severely impacted, there is an opportunity for hotels to monetize their space.
HotelsByDay, a company that allows customers to use hotel rooms during daytime hours, lost 80% of its business during the height of the pandemic. But as many workers are unable to return to the office, some are booking rooms as offices.
The company is now down 40%, with many clients booking rooms for work purposes.
“It would be a lot more adventurous and can really test out every single possibility to monetize their hotel," Yannis Moati, the CEO of HotelsByDay said. “Not just with rooms, but with every single corner of the hotel.”
According to the BLS, nearly half of all hospitality industry jobs were lost in April, with hotels losing $400 million a day. Six out of 10 hotel rooms were empty early in July.