US Hotel Industry Poised for ‘Longest Cycle in History’
Hoteliers Don’t Necessarily Have To Cut Costs To Survive
Even before the onset of the ongoing COVID-19 pandemic, the hotel industry was undergoing something of a reckoning, said Noble Investment Group Senior Managing Principal and CEO Mit Shah.
With operating costs rising and revenues flat, he said, it was important for hotel investors to recognize not all brands, segments and markets were as poised for success going forward, and that knowledge was driving strategic discussions.
"I think most of us knew there were going to be winners and losers, and for the first time we thought about market research in a new way," he said, speaking during the "A Focus on the Americas" panel during the online American Lodging Investment Summit Winter Update conference.