How do you think the hospitality industry landscape will change after the coronavirus crisis?
Many people will ask themselves if they should continue after that. There are much easier and safer ways to earn money than in the hospitality industry. Some will wonder if they need as many employees as before, or if their business can be kept smaller and more efficient. I also believe that it’s becoming clear that excessively rapid growth, financed by crazy amounts of venture capital, is takings its toll. It’s likely that these types of business models, which are not profitable for a long time, will be less likely in the future – or at least more difficult to finance.
What do you think the hospitality industry would need to recover when everything is over and they can resume their operations?
Grants or subsidies. Not insane ventures with investment banks, which all end up as loans in the end. The small restaurants and cafés will not want any part of that, because they will hardly be able to pay them back. After all, this is not about investing in growth – it's just setting money on fire. It’s clear that not everyone will make it anyway. I very much hope that the banks and authorities will take a close look at who was already wavering and who was doing well. And that they treat the companies well who really aren’t responsible for their collapse because it’s simply due to the pandemic.