Terrapin Case Study
The hospitality industry was particularly hit hard by the outbreak of COVID-19. For Terrapin Hospitality, effective decision-making was critical if they were to overcome the several challenges and setbacks created by the pandemic.
The hospitality industry was particularly hit hard by the outbreak of COVID-19. For Terrapin Hospitality, effective decision-making was critical if they were to overcome the several challenges and setbacks created by the pandemic.
Through their partnership with Olumo, they were able to gather crucial, timely insights from their people to identify how to navigate the pandemic and create a human experience at work.
THE PROBLEM
Decision-Making During Crisis
The outbreak of COVID-19 has ushered drastic change and uncertainty across industries and organizations. This is especially true for the hospitality industry that has faced unparalleled challenges due to travel bans and social distancing. With these new policies, 2020 was the worst year on record for the hospitality industry with all-time lows in occupancy and revenue per available room.
Research by McKinsey suggests that the hospitality industry won’t recover to pre-COVID levels until 2023 or later.