Philippines Hotels & Resorts and Covid-19 impact

By Robert Hecker on April 6, 2020

Sentiment survey Philippines Covid 19 impact

This sentiment survey was conducted by Horwath HTL Singapore, in conjunction with Tajara Hospitality to gauge the impact of the COVID-19 pandemic on hotels and resorts across Philippines. The survey received 72 responses (49 hotels and 23 resorts), representing 11,032 rooms.

Key Takeaways:

  • 50% of respondents believe the impact will be felt for more than 4 months and 71% felt it’s ‘much worse’ than any previous health scares
  • Total revenue performance for 1H2020 is expected to be down 50% or more (45% of respondents)
  • Total revenue performance for FY2020 is expected to be down 50% or more (38% of respondents)
  • Domestic market segments are expected to bounce back positively whilst there is heightened concern for foreign demand that may never fully recover
  • All respondents have implemented contingency plans from both cost and revenue perspectives
  • Government assistance sought (top 3): subsidies (37%), tax reduction (28%), marketing by DOT (18%)
Robert Hecker

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Robert Hecker