Volatility: opportunity or challenge?
BlogThe hospitality and tourism industry is hotwired into the global economy; how businesses in the sector prepare for and respond to economic shocks is critical to long-term growth prospects.
Gillian is our global leader for the hospitality and tourism industry and head of advisory services for Grant Thornton South Africa.
Gillian works with a wide range of clients across the hospitality and tourism industry in both the public and private sectors, providing tourism and business strategies, feasibility studies, economic impact assessments, destination marketing plans and valuations. She is a regular media commentator and sits on the board of the University of Johannesburg’s school of tourism and hospitality.
The hospitality and tourism industry is hotwired into the global economy; how businesses in the sector prepare for and respond to economic shocks is critical to long-term growth prospects.
Established players in the hospitality and tourism sector are having to work harder than ever to find growth. A series of recent events have disrupted demand in the short-term, but longer term, the rise of the digital economy is threatening traditional operating models and sales channels. Businesses in the sector need to be alive to the challenges posed by online travel agencies and aggregators (OTAs), as they try to build their brand and maintain market share.
The hotel industry is going through a period of unprecedented, irreversible change and will look very different in 2020 than it does today.