The future may be led by two generations at different ends of the scale- those in their 60s and those in their 20s
It was always going to be a shaky start to the year following a December which underdelivered for many. However, operators are beginning to talk more confidently about forward bookings and a return to strength in trading.
However, it is still clear that it will take time for density to return. Anyone walking around The City can feel the lack of buzz, atmosphere and numbers. The West End is stronger but it is clear that Q1 will be testing.
It was always going to take a further year before a clear picture emerged as to what the real future landscape does look like but indications and forecasts suggest a strong nine months from April onwards on the proviso that there are no future stronger variations of Covid to emerge.
Now the challenges are to manage the fallout from the last two years; rising inflation, lost labour, increases in taxation, rising energy bills and new work patterns.
Furthermore, the debate on the future of city centres is well underway. Can London really see more new hotels prosper? Do city planners now need to focus more on better living and better services? Will the density in numbers return? What is the balance between services and digital advancement?
The other question to emerge is whether Hospitality has proven itself as an industry during this period. Companies have adapted and survived. The industry is primed to bounce back and even more, it fulfils a central need for many consumers in their lives. The desire today is to live in the moment and that translates directly into travel and hospitality
There are many in their sixties who will call time on their careers but still have the energy and desire to have a fully active life. How will this impact? Research suggests this will be the most active generation of retirees ever.
At the same time, there are new generations emerging hungry to build their careers and lives. Many argue that the density in numbers will be rebuilt by the young and aspirational seeking wealth. Many believe it will be these two generations which will hold the key to the future of cities.
The world will have changed since 2019. How much will be soon seen but the seeds are already sown so it is about who can understand the changes taking place and act on them best.