Hotel CEOs Underline Speed and Passion as Necessary to Recovery
As Demand Soars, Brand Companies Embrace New Initiatives
BERLIN - The COVID-19 pandemic accelerated many developments in the hotel industry, including hybrid meetings and more efficient technology.
The pandemic also is accelerating operational initiatives aimed at capturing a share of revived travel demand, according to four CEOs speaking on a panel at the International Hotel Investment Forum.
Patrick Pacious, president and CEO of Choice Hotels International, said the challenges of the past 18 months have made him and his team work much faster.
“There were so many [initiatives] in pilot; we just said no more pilots, let’s just throw it out. Over the last few years we’ve looked at reducing the total cost of ownership, but no longer are we trying [something out] in 30 hotels. We know it will work, and the success has been 80%."
Too often, he added, the hotel industry is "smart enough to know what to do, but we are slow to do it."
