Tourism, Hospitality & Services
Tourism industry faces more and more pressure from taxation, tourist marketing, infrastructure, security, and cross-border regulations. Many tourist destinations are unprepared. Travelers may find travel ads exaggerated. Tourism faces fluctuating currency rates and price inflation. Emerging concerns influence the whole sector.
How will tourism evolve? All travel industry leaders want an answer.
Coronavirus and travel
The coronavirus outbreak has hurt the global economy and tourism. WTO predicts a fall in tourist revenues of $300 billion to $500 billion in 2020, or one-third of 2019’s $1,500 billion. Although the coronavirus crisis has short-term negative consequences on the tourism sector, it challenges industry standards and draws attention to poor risk management, viral globalization, and cross-border migration of infectious illnesses. It allows us to rethink the tourist industry. Responsible, sustainable, and innovative tourism is possible.
Tourism and inflation
Currency fluctuations are a major challenge for the tourism industry. Inability to assess currency value makes long-term visitor pricing problematic, and economic volatility harms many tourism support systems. Seasonal tourism can’t ensure a constant income flow throughout the year, hindering corporate structure.
The rising inflation rate forces businesses to raise prices or cut services. Transport has been hit hard. Aviation is vulnerable. Airlines rely on the food and fuel businesses. Already struggling, airlines must cut services and raise prices. As a result, leisure tourists avoid costly vacations, harming the tourism industry.
How We Can Assist
Tax efficiency services
Damalion experts assist international tourism players such as hotels, travel operators, transporters, and the airline industry to structure their international investments in the most efficient way.
Leveraging the taxes help increase operational excellence to create sustainable value for their businesses.
Hospitality Industry revigoring assistance
If Hotels’ standard promotes self-check-ins, contactless service, internet ordering, and app-based payment, Damalion experts support its international clientele to identify the new approaches of customer experience to maintain the profitable human and technological interactions. Anticipating customer demands along with creating demands or having customers as co-creators of new services are a range of expertise developed by Damalion experts.
Damalion deploys an omnichannel approach to measure, monitor various internet platforms to study comments, ratings, and photos about your business. Turning any positive or negative feedback into an asset to build better consumer relationships are among the metrics of the equation we work on to improve your business reputation.
One-third of hotel staff leave after six months, while 45% stay for two years.
Damalion experts help tourism players identify the right individuals with exceptional qualities, talents, and knowledge to be competitive. Recruiting and retaining staff in the hospitality industry is an ongoing challenge as employee expectations grow.
Damalion’s expertise in operational restructuring, asset and interim management, strategic analysis, and event preparedness (e.g., initial public offerings (IPO), receivership, bankruptcy) is a key advantage to conserve, protect, and increase asset value in a structured profitable way.
We prepare our clients to navigate balanced expansion and economic climate so they can articulate the crucial decision points necessary to generate and retain enterprise value.
Travel planning compliance monitoring
Damalion experts assist international clients to set up pre-trip planning procedure that enables them to approve, reject, and request changes to ensure compliance with internal and external regulations. This approach makes the travel experience for the customer more satisfactory while the tourism player maximizes its operational excellence. In addition, our analysis may also cover productivity analysis of the booking process which is more and more consolidated today (flights, hotels, car rentals).
Want to know more about Tourism, Hospitality & Services with Damalion?
Damalion offers you from bespoke advice provided by directly operational experts in the fields that challenge your business.
We advise you to give information at its best, so we can qualify your demand and revert to you under the next 8 hours.