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And hotels must also be released from hosting non-stranded guests who refuse to pay for their stay.
These form some of the recommendations a think-tank set up by Mashreq Bank has come up with. It had earlier issued one for the local retail sector. Only by creating a permanent shift in the way business is done will the hospitality industry be able to create strong momentum during the medium term
- Joel Van Dusen of Mashreq Bank
Joel Van Dusen, Head of Corporate and Investment Banking Group at Mashreq Bank, said in a statement: “The regional hospitality sector already faces multiple headwinds, and the pandemic has only further impacted the industry with factors such as the global economic environment, struggling tourist numbers and oversupply.
UAE Business: UAE hotel sector needs vital support to navigate post-Covid-19 economy: report gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.
UAE hotel sector needs vital support to navigate post-Covid-19 economy: report
DUBAI, December 21, 2020 A new report from a high-level hospitality industry think tank has recommended 15 actions needed to help the UAE’s hotel industry survive the impact of the Covid-19 pandemic. Launched today by the UAE Hospitality Think Tank, “The Way Ahead for Hospitality” calls for additional steps from authorities and financial institutions to support hoteliers through the crisis, and it recommends several reforms including greater flexibility in employment regulations and zoning. The UAE Hospitality Think Tank is a focus group comprising leading industry players from across the UAE hospitality sector brought together by Mashreq Bank and MEED. Its purpose is to assess the challenges in the UAE hospitality industry brought about by Covid-19 and to recommend actions to overcome them.