A nugget of industry related news. The American Hotel and Lodging Association has released a survey indicating that more than 70 percent of hoteliers don’t expect their business to survive beyond six months without federal assistance. More than one-third of hotels will be facing bankruptcy or be forced to sell by the end of 2020.
Why do we care?
Two reasons – first, when I talk about the fact I’m concerned about business health into next year, it’s because of data like this. Ultimately, technology services providers need customers, and if those go away, we have problems. It’s about industry research across your customers, and then understanding the impact they are feeling. If your customers serve hospitality, you care – and you care to check other industries too.
Second, this is the kind of data you want to be looking for. You want to move downstream to your customers and their customers, and pay a lot less attention to what those upstream of you are saying… software vendors will have their opinions, but they matter a lot less than those you serve.