The hotel industry was among the most hit by the COVID-19 pandemic, which affected every sector across the globe. A combination of local lockdowns and travel restrictions during the pandemic forced African hotels to close entirely or operate at a fraction of their available capacity.
This closure (some partial, total, temporary or permanent) led to revenue losses, with earning reports of three of Nigeria’s most prominent hotels listed on the Nigerian Stock Exchange showing the extent of the lockdown’s impact on the financials.
Although the COVID-19 crisis is far from over, normalcy has since resumed and led to the industry’s recovery. Occupancies and average room rates (ARRs) have experienced substantial jumps.
To aid the recovery, the industry has had to evolve to navigate the challenges of the still-evolving COVID-19 crisis. Hotels in Africa have made operational changes to adapt to the new normal, including recent payment trends.
These are four payment trends to scale your hotel business in Africa.