New book authored by Paul Slattery alerts hotel chains to a long-term golden age of global growth
But advises the need for a more systematic approach to strategy and investment
According to the author, economies around the world and the hotels business are now facing bigger economic and investment issues than ever in their history. Decisions about economic policy are taking shape and their impact on hotel demand could be transforming. The potential is available for hotel demand growth to enter a golden age that will last into the long-term and cut across several economic cycles. This will have a major positive impact on the size and complexity of hotel chains and require more systematic insights into strategic development and investment.
Only rarely is the world faced with such large-scale shifts in economic structure and never has there been the potential to grow hotel demand to such new heights. It has taken all of history for each of the four largest hotel companies in the world to reach 500,000 rooms. Mr. Slattery anticipates that within the next ten years each could reach a million rooms. The hotel business is about to become very much more significant.
According to Mr. Slattery, ‘Along with greater economic significance comes greater responsibility to investors and other stakeholders in the hotel business. An understanding of the structural development of economies enables us to identify more effective ways to measure the hotel demand and hotel supply needs of economies and enables us to plan investments more effectively. This book is about these big economic and investment issues.’
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Paul Slattery is co-founder and director of Otus & Co., an investment bank that provides corporate finance services and advice on high level strategic issues to the main boards and senior executives in hospitality, travel and transport companies and also to capital providers. A 15-year veteran of Kleinwort Benson until 2002, Paul worked in both equity research, where he was head of hospitality research, and investment banking where he built the bank’s franchise in the hospitality arena and advised companies such as Compass Group, Scandic Hotels, Thompson Travel Group and Whitbread. Prior to that, he led the BA (Hons) Hotel and Catering Administration at the University of Huddersfield where he was also responsible for management research at The Hotel and Catering Research Centre.
He holds an undergraduate degree in Hotel and Catering Management and an MSc by research from the University of Strathclyde, Glasgow. A Fellow of the Institute of Hospitality and former Chairman of The International Hotel Investment Council, he writes regularly for industry and academic publications, and is in frequent demand to speak at international hospitality industry conferences.
Phone: 07944 708748