Forecasting in a Windstorm: The Outlook from STR and PKF | HSMAI University Webinar Recap

HSMAI University Webinar Recap: Jan Freitag, vice president of global development at Smith Travel Research and R. Mark Woodworth, president of PKF International, discussed the state of the U.S. lodging industry during the HSMAI University webinar. Jan Freitag, vice president of global development at Smith Travel Research and R. Mark Woodworth, president of PKF International, discussed the state of the U.S. lodging industry during the HSMAI University webinar, “Forecasting in a Windstorm.” Both agreed the lodging industry is in turmoil and predicting factors point toward one of the longest recessions in history with recovery not expected until mid-2010. Freitag did note that “though the economy is tough, the travel industry is still profitable,” and recommended professionals focus on “value through offering amenities such as access to the gym, free internet or an extra night stay” to maintain pricing and brand integrity beyond 2009.