Level up strategies to slow cash burn

With STR and Tourism Economics predicting that recovery in hotel demand to pre-pandemic levels is 11 quarters away, and most industry watchers forecasting that average occupancy/rate won’t rebound fully until 2022 (optimistically) or 2023, hoteliers have to move from macro to micro strategies to manage cash burn before they flame out.   “My mom used say, ‘Look after the pennies and the dollars will look after themselves,’” says Matthew Arrants, executive vice president, Pinnacle Advisory Group, Boston, Massachusetts. “We are in crisis. Everything is on the table. And I mean everything.” By Contributing Editor Mary Scoviak The necessity to double…
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