While some industry leaders take a more zoomed-in approach, looking at day-by-day or week-by-week performance, others admit they still use pre-pandemic metrics, and the results are often skewed or “depressing”. What metrics are industry leaders using in the interim to measure success, or recovery? How should we define success when it may still look very different from the definition we once held?
For the vast majority of the industry, performance in both 20 fiscal years have been an anomaly, with only recent months likely showing a glimmer of return to a 2019-or-prior performance.
In a world where year-over-year metrics are no longer relevant, how should our industry measure success?Īs the hospitality industry continues to progress on its slow path to recovery from the Covid-19 pandemic, traditional metrics that once guided strategic planning and progress measurement are, at least temporarily, rendered rather useless.
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