Hospitality pioneer Loh Lik Peng says we should remember the lessons from the pandemic: stay local, prioritise mental wellness and push for greater sustainability
Around this time in 2020, an unknown novel coronavirus started taking over social media feeds, the news, and ultimately, our lives. Life as we knew it changed abruptly, and it’s only recently that many of us have settled into the new normal. The last three years have been particularly tough on the travel and hospitality industry, which has faced the disproportionate brunt of the pandemic’s impact bringing even the most storied businesses to their knees.
So what can we expect for hotels, restaurants and travel as a whole in 2023? The “post-pandemic” landscape is not devoid of bumps. It has been mired by record inflation, a war in Europe, and an escalating climate crisis. There is, however, reason to be optimistic, especially with the expected rebound that comes with the return of Chinese travellers. Loh Lik Peng, founder of Unlisted Collection—a hospitality group operating award-winning restaurants and hotels in Singapore, Sydney, London and more—shares his thoughts on the future of the industry and what can be done to shape it for the better.
Read more: Loh Lik Peng's full profile on Asia's Most Influential
The world is small and united in its love of travel.
What I realised over the last three years is how in sync the world is. When the pandemic started, every market shut within weeks of each other; by and large the shutdowns were fast and total. When vaccinations began to penetrate deeply into society, virtually all those markets opened up resulting in a rapid resumption in travel and consumption in general.
I noticed that the world moved in lockstep, not necessarily coordinated but certainly driven by momentum from consumers who all had a lot of the same motivations. That was striking because I thought it would be an uneven and bumpy ride, but travel exploded everywhere in the world that borders opened. That proves to me that fundamentally everyone loves to travel—and will, if given the opportunity to do so.
China will take the travel rebound into overdrive.
Everyone who thinks travel right now is expensive and disruptive better get used to it as China opens up. This year is likely to be worse than 2022 because when the Chinese travel in large numbers, they flood every market. It is likely that we will face supply constraints all along the travel and hospitality chain for much of the year—possibly even into 2024. The disruptions caused by the pandemic will be long-lasting and profound—we may not find equilibrium for another four to five years.