CAP Worldwide CEO Jo Layton commented on sourcing sales from wider sectors during the pandemic in an interesting article in the Financial Times today, alongside fellow industry leader Robert Alley from Roomzzz Aparthotels.
The article by Philip Georgiadis and Alice Hancock discusses the impact of reducing demand from corporate travellers on the hospitality industry and related businesses, from the perspective of large hotel chains to chauffeur companies, dry cleaners and shoe shine businesses.
Data from Travelogix shows that in the first week of September, international business travel from the UK was 80 per cent lower than the same week in 2019. The Business Travel Association estimated the UK lost £4.47bn in gross domestic product in the first week of September because of the decline in corporate travel spending, and the article examines in detail the knock-on effect on businesses in the hospitality eco-system and the steps some have taken to adjust.
See page 13 of today's Financial Times for the full story.
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