Here is my latest look at the hospitality sector

1. HOSPITALITY SECTOR – CANADA AND
THE WORLD
Paul Young CPA CGA
January 23, 2020

2. PAUL YOUNG - BIO
• CPA, CGA
• Academia (PF1, FA4 and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Supply Chain Management
Contact information:
Paul_Young_CGA@Hotmail.com

3. AGENDA
• GDP / Hospitality
• Automation
• Staffing / employment
• Food and Beverage Sector

4. GDP / HOSPITALITY
Source – Stats Canada

5. AUTOMATION
HOSPITALITY
SECTOR
• Virtual Trips - https://coleofduty.com/news/2020/06/21/2020-
2025-virtual-reality-in-tourism-market-is-booming-worldwide-
global-industry-size-growth-segments-revenue-manufacturers/
• Automation - https://www.revfine.com/technology-trends-
travel-industry/
• Automation -
http://www.hospitalitybizindia.com/detailNews.aspx?aid=38291
&sid=1
• Robotic Servers - https://www.reuters.com/article/us-health-
coronavirus-netherlands/robots-dish-out-the-drinks-at-
reopened-dutch-restaurant-idUSKBN2392I4
• Robotics waiters and bartenders -
https://www.winespectator.com/articles/robot-bartenders-
waiters-surge-in-demand-in-pandemic-unfiltered
• Tax policy will need to change as part of automation changes
by the hospitality sector, i.e. robot tax, automation tax, etc.
• IBM Analytics - https://www.ibm.com/ca-en/products/planning-
analytics and Cognos Analytics -
https://www.ibm.com/products/cognos-analytics/features
• My work on small to medium size businesses
• https://ibm.box.com/s/gs1kdowdb0nh93wr9txch4fyihhgqd3t
• Close, consolidate, and reporting -
https://ibm.box.com/s/i7efp948qvb5l8bt96y8sigsup8yes2u
• Food warehousing and distribution - My blog -
https://www.linkedin.com/pulse/blog-grocery-food-distribution-
automation-paul-young/?published=t

6. STAFFING/HUMAN
CAPITAL
MANAGEMENT
• The new norm for hospitality - https://www.stcatharinesstandard.ca/news/niagara-
region/2020/06/22/tourism-operators-warn-hospitality-experience-will-be-different-
post-covid-19.html
• RV replacing cruise ships - https://www.ctvnews.ca/health/coronavirus/rvs-replacing-
cruise-ships-what-vacations-might-look-like-post-covid-19-1.4964292
• Cruise ship restructuring - https://www.prnewswire.com/news-releases/the-cruise-
ship-construction-industry-is-seeing-some-signs-of-recovery-301154846.html
• Many jobs are not coming back - https://www.slideshare.net/paulyoungcga/human-
capital-management-skills-and-education
• More than 60% of the restaurants could close by November 2020 -
https://dailyhive.com/vancouver/canadian-business-potential-restaurant-closures-by-
november
• Wage and rent subsidies have done little curb the closures of food services companies
- https://www.retail-insider.com/retail-insider/2020/8/broad-economic-impact-as-
foodservice-businesses-shutter-in-canada
• Insurance - https://www.reuters.com/article/us-canada-insurers-restaurants-
idUSKBN26T1O1 or
https://www.insurancejournal.com/news/international/2020/10/08/585822.htm

7. JOB
RECOVERY
Source – Stats Canada

8. FOOD AND
BEVERAGE
SECTOR
Source – Stats Canada -
https://www150.statcan.g
c.ca/n1/daily-
quotidien/210122/dq2101
22f-eng.htm

9. NEW NORM – HOSPITALITY SECTOR
• Restaurants bankruptcies - https://ca.finance.yahoo.com/news/these-restaurants-have-filed-for-bankruptcy-and-
many-more-are-at-risk-110046021.html or https://www.restaurantbusinessonline.com/financing/restaurant-chain-
bankruptcy-wave-far-over
• New Norm - https://www.bonappetit.com/story/food-businesses-covid-19 or Here is my work on the new norm -
https://www2.slideshare.net/paulyoungcga/new-normal-for-canada-and-the-world
• Restructuring charges - https://www.prnewswire.com/news-releases/choice-hotels-international-reports-2020-
third-quarter-results-301166897.html
• Restructuring charges - http://www.ghco.com/news-releases/news-release-details/graham-holdings-company-
reports-third-quarter-earnings-5
• Grim reality facing restaurants - https://economictimes.indiatimes.com/industry/services/hotels-/-
restaurants/outlook-for-hotels-and-restaurants-appear-grim-for-at-least-a-year-
fhrai/articleshow/79131535.cms?from=mdr
• Re-organizations - https://www.bizjournals.com/atlanta/news/2020/11/05/papa-johns-atlanta-hq-reorganization-
cost.html
• Wages and Employment –
• Jobs in demand require apprenticeship or degrees/diploma
• There are structural issues with retail and the hospitality sector

10. WHAT’S NEXT
• Many restaurants and bars are shutting completely down COVID19 and Post Covid19 -
https://www.foodserviceandhospitality.com/canadian-restaurant-closures/
• Businesses are struggling with bring workers back due to many workers making more on CERB -
https://www.ctvnews.ca/health/coronavirus/reopening-businesses-struggling-to-lure-staff-back-to-work-1.4996820
• The hospitality sector will be faced with a new norm as such there will need to be a transitioned of workers to other careers -
https://www.slideshare.net/paulyoungcga/human-capital-management-skills-and-education
• Government having been using COVID19 to push guarantee income - https://www.slideshare.net/paulyoungcga/policy-
analysis-guarantee-income
• All levels of government will need to work together as part of tax fairness as well as getting maximum value out of social
spending - https://www.slideshare.net/paulyoungcga/designing-social-programs-and-tax-fairness-policies
• All levels of government need to focus on getting goods to market as part of supporting sectors like hospitality. The stronger
the economy the more people will have money to spend on food and beverage sector -
https://www.slideshare.net/paulyoungcga/how-best-to-get-goods-to-market
• Cost of retraining could be $30K to 40K per person. The new jobs required at least 3-4 years of education along with another
2-5 years of certification and training - https://www2.slideshare.net/paulyoungcga/2021-career-and-employment-outlook

11. TRAINING AND DEVELOPMENT
• If you like to learn more
about trade and/or other
subjects as part of your
professional learning and
development then feel
free to review my material
on
https://www.udemy.com/
(search Paul Young CPA
CGA)
• These subjects address
how to fixed issues with
housing and/or systemic
issues related to economy
including government
policies