Delving into the dynamics influencing the hospitality industry, Cathro & Partners conducted an in-depth analysis of the latest whitepaper. The study reveals the complex interplay of factors that have shaped the industry's trajectory during and after the pandemic.
Amidst the post-pandemic recovery, different segments of the hospitality sector experienced contrasting outcomes. While the opening of international borders boosted the hotels and resorts industry, restaurants and cafes saw a resurgence in revenue as restrictions eased. However, pubs, bars, and nightclubs faced significant challenges, grappling with the impact of COVID-19 and the surge in online gambling.
The cinema industry, too, encountered obstacles due to the growing popularity of digital platforms and Subscription Video On Demand (SVOD) services, leading to changes in audience behavior. Despite these challenges, the hospitality sector is anticipated to gradually recover, driven by evolving consumer preferences and the gradual easing of restrictions.
However, the industry is not without its share of additional hurdles. Factors such as geopolitical tensions disrupting the global agricultural supply chain and recent floods in parts of Australia damaging crop production have contributed to food price inflation, further squeezing profit margins for market players. Cathro & Partners' insightful analysis sheds light on the complexities faced by the industry and offers valuable insights into navigating these challenging times.
Extract from the whitepaper:
Australia's vast hospitality industry can be broadly categorised into:
- Hotels and Resorts
- Restaurants
- Social Clubs
- Pubs, Bars, and Nightclubs
- Café and Coffee Shops
- Cinemas
Although the disruptive influence of the pandemic lockdowns was felt across the entire industry, the post-pandemic recovery and performance has differed between categories....
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