We are really bullish on the Hospitality Industry in 2021, especially for our hotel and restaurant customers. Why? Here are a few reasons:
COVID Recedes - Federal and State COVID relief programs will help our customers survive, and COVID
restrictions will start to loosen as the vaccine is administered.. This will result in consumers and
business people getting back to restaurants and hotels. Click here for the latest info on COVID relief.
Pent Up Demand - Not only will consumers and businesses be going out, but predictions are that pent up
demand will drive higher than normal spending in hospitality (e.g everyone needs that vacation they
cancelled in 2020, and to get together with friends and family). Because so many hospitality companies
went out of business, there are fewer remaining businesses open to receive this pent up demand.
Lean Staffing - Hospitality businesses that survived did so with fewer employees, so they now know how to
operate with less staff than pre-COVID and will continue to do so.
Take-out isn’t going away - Those restaurants who ramped up their take-out business will see it drop some,
but it will remain much higher than pre-covid and their dine-in business will come back, so all together will
result in more business.
Cost Savings and efficiency - During COVID, many hospitality businesses studied their spending to find
areas where they could reduce costs and operate more efficiently. Leveraging technology was a big
focus including TableBoost’s facilities management app that helps its customers reduce equipment related
costs by 25% and run efficiently with a leaner staff [www.tableboost.com].
TableBoost’s Marketplace of Partners - TableBoost continues to add new partners who offer discount pricing
and rebates on purchases and services, finding thousands of $ in tax credits, offer financing of equipment,
same day delivery, replacement parts, and cutting edge technology to help in other areas
[https://tableboost.com/#partners]. TableBoost will continue to add more partners and more savings for its
customers. More news to come soon!
Q1 will be slow as the COVID vaccine won’t have been rolled out extensively yet, but after that the floodgates will open. Don’t wait until you are swamped to implement cost savings and efficiency improvements. Contact TableBoost now to learn how you can cost costs in a number of areas using our app and through our marketplace of partners as well!!