I sat with the General Manager of a group of hotels at the beginning of the crisis and we looked into our crystal balls and came up with slights but equally worrying pictures of a post Wuhan flu era. My take on it is that the real winner from all this is going to be technology. After a decade or so of being on the edge as to whether it can truly work sufficiently well to plug the gap when two parties are not in the same room, well, I think that question has been answered in the affirmative. So where does that leave the hotel business ? If I am a sales manager with 10 people out on the road and staying overnight 3 times a week and doing perhaps 600 miles per week in their company cars then I suffer a budget cost of something like this: Car: 500 Fuel: 500 Hotels: 1000 Subsistence: 500 This is £2500 per person, per month, equal to £300k a year. Roll out past this crisis and do you go back to spending £25k a month on sending guys out on the road or do you save the costs and the time wasted and have your people come into the office once a week and work from home the other days ? They can still go see some people a couple of days a month perhaps. There are variations on this theme but all pretty more costly. Why fly ? Why go anywhere ? Why have a huge inner city office ? Of course, my compatriot was more optimistic but hesitant but for hotels which cannot fill corporate rooms with tourists then who will fill them and at what rates ? For the whole travel sector, they seem to be enthused with a "get back to normal" approach but once you've seen the light, it is hard to turn off the switch and if I were that sales manager's boss, I don't think I am going to easily wear any choice to go spend £300k on putting people back on the road for no reason.