Accor Plans to Rehire All Staff, Reopen Hotels After Virus

The CEO of Aqua discusses the impact of COVID-19 on the travel industry, highlighting the temporary layoffs of over 200,000 employees and the closure of 3,000 hotels. Despite the challenges, the CEO remains optimistic about rehiring staff and reopening hotels. He notes that less than 10% of bookings for July and August have been canceled, indicating potential recovery. The recovery in China serves as a model, with 90% of hotels reopened. Financial stability is maintained with a strong balance sheet, and the CEO is prepared for future challenges, considering credit lines and government assistance if necessary.

How does Sebastian describe the current occupancy rates in China?

What is Sebastian's perspective on the financial stability of Aqua Sebastian during the crisis?

What strategies does Sebastian suggest for preparing for a rebound in the hotel industry?