We spoke to top leaders across the travel and tourism industry, from companies like Airbnb and Hilton, and asked them three questions: How will the coronavirus change your company, your industry, and the world?
We used to do a lot of travel for work and then we entertained ourselves on screens. That's going to inverse. I think we'll work more on screens and entertain ourselves in the real world. The RV industry is well positioned to survive big downturns, with high variable and relatively low fixed costs. So, we can scale down quickly and when the market returns, scale back up to meet the need. And as we start to envision the post-COVID, post-recessionary landscape, we see many indicators that point to a strong recovery for the RV industry, perhaps ahead of the economy as a whole.
We are now planning for the future by creating and executing even more rigorous sanitization protocols and policies. We understand that we now need to show and demonstrate it to prospective residents who may not have experienced it yet as a firsthand resident.
Our communications people can work from home, but obviously, we can't build vans from home. Me and [three] of the guys [are] living out of vans at the shop. I go home to visit my family periodically, but we've just quarantined ourselves here and everybody agrees that it's the best thing. We also believe there will be increased demand for resort options that are less dense, giving a newfound importance to what's been at the core of Club Med's philosophy since its inception 70 years ago — resorts that are integrated in, and respectful of, their surrounding natural environments and are spread out across larger areas, with low-rise buildings that blend in rather than traditional concrete high-rises.
While our core business is typically centered on stays of seven nights or fewer, we recognized that we are uniquely positioned to offer temporary shelter to those in need.
As home isolation orders are lifted yet physical distancing remains top of mind, we anticipate road trips and personal auto travel will rebound faster than group travel. Travelers will prefer the privacy and comfort of traveling in their own car with close family and friends, and Turo is well positioned as the leading car sharing marketplace to fulfill those trips.
Since the end of March, we have seen a reduction in our flight activity and this was obviously mainly due to the shutdown by governments and really only allowing the repatriation of nationals of different countries. However, our client base, which are the chairmen and CEOs of significant companies, they still need to go and be with their companies. They need to go and see their customers.
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