LAST WORD The Covid-19 pandemic resulted in decline in revenue. In response, hotels cut back on variable costs. cut back on fixed costs. increased their marketing budgets. collaborated and shared customers. Rental car companies had an option that restaurants and hotels did not in terms of raising funds to survive the downturn. This option was to sell their cars as which were an asset, as demand declined. to cut their variable costs to fund their higher fixed costs. car sharing amongst the companies. update their fleet to electric cars