As the global hotel industry manages through another black swan event, this time the novel coronavirus, I am reminded of the experienced leaders guiding the industry through the rough waters. The message I received in the early days of the outbreak, and which I relay to you here, is not to overreact. Don't panic sell, as we have learned that lowering rates does not induce demand. In fact, look for opportunities to grow, as well as work in your communities to help those less fortunate. It's a great opportunity to walk your talk about corporate social responsibility. The industry has seen worse upheaval, but it has traditionally been regional in nature. The global spread of the virus is generating sensational headlines and perhaps a bit more uneasiness than during past events like SARS and H1N1. In due time it is reasonable to expect this virus will join the history books. How you manage through and forward is what matters.
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