The unpredictability of Covid-19’s spread and regulations have left businesses everywhere with the challenge of adapting creatively. According to a World Bank survey, one-fourth of businesses worldwide saw their sales drop by 50% between October 2020 to January 2021. And this number doesn’t even cover the impact of the deadlier delta variant.
COVID Impact on Tourism
With fewer people traveling, you can see this decline in sales among small businesses and the hospitality industry the most. Statistics published by the Statista Research Department show the U.S had around $147 billion in tourism revenue loss between January and October 2020. They’ve also reported 2021 statistics are looking grim with a predicted $2.4 trillion loss of GDP globally due to the impact of Covid-10 on tourism. Although the U.S recently lifted international travel bans of visitors from over 30 countries, it’s still uncertain how long it’ll last and if new bans will be in place.
Another unfortunate trend during Covid is the decline of business travel since more companies are transitioning to virtual interactions. An analysis of hotel business travel revenue, published by the American Hotel and Lodging Association (AHLA), indicates the hotel industry will close 2021 with significant losses: over a $59 billion decline in business travel revenue compared to 2019 and nearly $49 billion compared to 2020. This not only means fewer rooms are being booked at hotels but also fewer visitors exploring local shops during the week and spending on available services.
There’s no question businesses have to come up with new ways of attracting travellers’ money – whether from international or local visitors. One creative solution for adding a cost-effective source of income is to monetise empty spaces through luggage storage services. Why leave your unused secured spaces sitting there when it can bring in some extra cash flow to cover your expenses to stay open?
How Can Stasher Help Hotel Businesses
Signing up to be a host on platforms like Stasher also isn’t limited to hotels. Local shops and small businesses can offer their unused secured spaces for luggage storage – think lockable back rooms, offices, garages, or basements. The space only has to hold at least 5 bags and your business needs to have regular opening hours. Some of the most successful hosts also offer late hours and/or are close to tourist attractions or transportation hubs.
It doesn’t cost anything for businesses to sign up to be a host through Stasher, yet the benefits are endless. Depending on your location, you can make between £200 to £3500 a month. Being a Stasher host also exposes your business to new customers who may not have discovered your goods or services otherwise. People you can attract who are seeking luggage storage range in reasons, including:
- Fans trying to catch a game at a sports stadium
- Weekend travellers for family events
- AirBnBers needing storage options after checkout
Having a strategy in place as travel bans lift can be the difference for your business to survive these uncertain times. Signing up to be a Stasher host is an optimal opportunity to monetise your spare space, so you can take advantage of the random peaks in travel and bring in some extra cash flow.
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