TFE Hotels Expects Slow, Steady Recovery, CEO Ritch Says

The video discusses the severe impact of the pandemic on the tourism industry, with an 85% revenue reduction. It outlines a slow recovery process, starting with local travel and potentially expanding to international travel. The focus shifts to apartment hotels, which have shown resilience due to their self-contained nature. The video also covers the development pipeline, emphasizing long-term market opportunities and the importance of competitive products.

What percentage reduction in revenue did the tourism industry experience due to the pandemic?

• 50%

• 85%

• 30%

• 70%

What is a key factor in the recovery process of the tourism industry?

• Building confidence among businesses and guests

• Increasing hotel prices

• Reducing the number of employees

• Expanding international travel immediately

How many people are directly employed in the tourism industry?

• 600,000

• 1,000,000

• 300,000

• 199,000

What type of accommodation has shown resilience during the pandemic?

• Apartment hotels

• Luxury hotels

• Hostels

• Bed and breakfasts

Which markets are considered attractive for long-term opportunities post-pandemic?

• Australia and New Zealand

• Middle East

• South America

• Africa