Every cloud has a silver lining. Yes, these are challenging times for hoteliers; they have had to be very creative to make the most of these difficult trading conditions. But as one door closes, another opens, and this article describes some of the opportunities that are being taken up in various hotel markets, with the aim of not only improving hotel trading conditions in the short term, but also improving hotels' positioning and competitiveness long after the recession is over. Written by Spohie Perret and Pierre Ricord.