However, it is not all doom and gloom and as we may have seen opportunities arise in certain sectors. Many may argue that this is definitely not the case in the Tourism and Travel industry.
The aviation industry is certainly one of the sectors that suffered most if one isolates passenger travel. Nevertheless, not all the industry has suffered the effect of the pandemic and indeed there are specific sectors that have actually improved their performance. Others are presently looking into investing further, amongst others in the cargo industry.
In the passenger airline industry varied movement in selling, mergers and acquisitions can be observed - this is very similar to what the industry experienced more or less a decade ago. This is a very common reaction particularly in the unprecedented crisis yet some companies will certainly come out stronger possibly in 2024, the year the industry predicts recovery.
Considerable discussions are going on between small accommodation places as well as other outlets servicing the tourism industry for injection of capital in new projects or for consolidation of activities as well as mergers and acquisition activity.
This is even more so in Malta whereby certain investors are seeking opportunities to take over cash depleted businesses at a low price to reap the benefits when the economy stabilizes itself. Others are doing so through investment in new ideas that also cater for issues in current circumstances whilst others are changing modus operandi in its entirety.
Indeed, it is time when this kind of activity needs to increase if one wishes to save businesses. Fortunately even to do such analysis and / or plans one may tap into funds provided by the EU and also by the Government of Malta. These are very wide ranging and assist businesses in various ways.
The Association of Catering Establishments is helping catering establishments through its partnerships to tap into these opportunities in a very successful manner.
The two close downs of
led to various
new opportunities and
question their model of business trying to
come out stronger from the pandemic. The
opportunity to reassess is still a very realistic
Reuben Buttigieg is the President of the Association of Catering Establishments, Managing Director of Erremme Business Advisors and President of the Malta Institute of Management.
ACE (Association of Catering Establishments) represents a wide spectrum of entrepreneurs ploughing their trade in either of the following commercial outlets: snack bars, cafes, kiosks, casual diners, catering operations located within clubs, fast food take-away, food delivery outlets and fine dining restaurants.
For more information visit https://acemalta.org.mt