Resorts didn't have the best time in 2020, to put it gently. The COVID pandemic and stay-at-home orders threw everyone for a loop for a long time. Even resorts that tried to stay open to an extent had to deal with reduced travel and canceled reservations. Now that various parts of the world are starting to open up, especially as more vaccines are administered, resorts need to be ready for some very eager travelers. But resorts face a problem in that the post-pandemic travel and vacation world isn't going to suddenly snap back to where it was in 2019, so speaking with development advisors is crucial for successfully scoring financial backing for changes and expansions.
How Travel Recovery Is Going
First, you need to look at how travel recovery is going in general. Many airlines are no longer blocking middle seats, but not all flights are full, for example. Many people are still staying at home even after being vaccinated, simply because they either don't have the money to travel or because they want more people to be vaccinated first. If you were to approach a bank for a development loan to expand your resort, for example, you'd need to present a path for your resort through these leaner times. In other words, how would you pay back your loan if you tried to expand your resort but few people actually showed up?
Vaccine Status of Staff and Guests
Vaccine status may become a hot-button issue. Your staff may want all travelers to eventually be vaccinated, and travelers may want all of your staff to be vaccinated. In fact, the vaccination status of staff at the resort could become a huge deal in terms of marketing. However, the vaccine hasn't been that easy to get for some groups, and many countries are still waiting to get vaccines in the first place. How you approach guests' expectations versus state and country requirements affects how many people want to be, or can be, at your resort. Lenders want to know you've taken everything into account before funding a land purchase for an expansion, for example.
Positioning a Location as Always Good to Be In
Forgetting about the pandemic for a moment, when people start traveling again, no doubt there will be locations that are more hip and cool than others. These areas might not be where your resort is located. A resort development advisor can help you determine ways to adjust your resort's services so that people want to go to your location, even if the surrounding area isn't making it into whatever top-ten-travel list is going around.
Getting advice is always a good move, especially if your resort management is trying to score funding for land purchases, expansions, remodeling, and so on. Given that travel may see some wild ups and downs in the next few years, working with development advisors is a smart move.
How many times have you put off making repairs around your home because you didn't have the money to make them immediately? Have those decisions caused even more repair bills because you waited to make the repairs? I have done this several times in the past, and, oftentimes, not making those repairs have cost me far more to complete because the damage spread. The whole reason I created my blog was to help others find the financing they need to make home repairs without worrying about choosing the wrong type of financing option. Hopefully, my hard-learned lessons will help you avoid the same struggles that I have undergone.