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The coronavirus pandemic impacts the economy worldwide and notably the service sector. As of , it was estimated that food services in the Netherlands could face revenue losses of *** million euros per month. Within the food sector, it was estimated that Dutch restaurants could lose up to *** million euros a month. Regarding the revenue loss in percentages in the hospitality sector, companies foresee a ** percent revenue loss. Furthermore, leisure companies expected a ** percent revenue loss, whereas fast services estimated a decline in sales of ** percent.

Effects of coronavirus on hotels, restaurants and cafes

According to a recent survey, the effects of the coronavirus pandemic on hotels, restaurants, and cafes are already noticeable. , Indeed, ** percent of Dutch respondents noticed more cancellations of reservations than normal, whereas roughly ** percent mentioned to see an overall decrease in the occupancy rate. Similar effects were seen with the occupancy rate in the hospitality sector. Leisure companies, hotels and restaurants all registered a ** percent decrease in occupancy, whereas fast services saw a ** percent decline.

Financial buffers within the hospitality sector

Having enough financial buffers as a company could be proven vital in the current coronavirus epidemic. As of , roughly ** percent of the companies working in the hospitality sector indicated to be able to survive the consequences of the virus for two to three months. On the other hand, ** percent of them mentioned to just have enough for one month or needs immediate financial support.