iCS: Shared Accommodation Providers Getting Help
March 26, 2020
Editor's note: Oliver Wyman is monitoring the COVID events in real time and we have compiled resources to help our clients and the industries they serve. Please continue to monitor the Oliver Wyman Coronavirus hub for updates.
China’s tourism and hospitality sector has had two months of heavy losses and has been trying to figure out how to stay in business. Small businesses like local guest houses, apartments leased by an operator who then rents them out as short term leases, have been badly hit by the COVID-19 outbreak.
A recent survey by Oliver Wyman shows 77 percent of potential Chinese travelers are planning domestic trips after the pandemic subsides. And 56 percent of them say they will be happy to increase their travel spending beyond what it would have been before the outbreak.
Katie Sham, an Oliver Wyman Principal and the lead of the survey, talked to International Channel Shanghai, a local broadcaster, about our latest consumer insights on Chinese travelers. She believes that the increased consciousness among travelers actually brings opportunity for tourism and hospitality industry. Watch the full interview here.