Biggest brands like Marriott, Hyatt report declines in Asia businesses; Hilton says outbreak could hurt full-year earnings
The Coronavirus is having a global impact, there is no doubt about that. We are seeing small business facing production problems from their suppliers in China, there are shortages of face masks and adequate medical gear, and stock markets are as volatile as ever due to the Coronavirus.
In this article it talks about how the Hotel industry is seeing reservations and profits plummet due to the scare of the coronavirus. People are not wanting to travel and potentially be caught in the middle of a pandemic where they may be stuck in the place they are traveling. The other side to this is the fact that hotels, airlines, and even cruise lines are starting to lower prices to entice the people who are not afraid or are willing to travel. What is interesting as it relates to marketing is how these businesses who are suffering lower sales and profit can market this situation in a positive light to entice and bring in new business. It may not be a good strategy to market a "coronavirus sale" or a sale related to the virus, so marketers will have to figure out marketing schemes and plans that can bring them business but at the same time not scare away potential customers.
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