The Panic of 2008 puts us in uncharted waters. Fortunes will be made... or lost...in the coming months. There will be great opportunities and perils
By Jim Butler, Chairman, JMBM’s Global Hospitality Group
The Panic of 2008 will create great opportunities and lethal traps. It no longer matters whether the Bailout Bill passes . . . you will make your own destiny.
In this article, I want to give you one hotel lawyer's collection of "idea nuggets" gathered at the recent Phoenix Lodging Conference, some data presented there by the experts, and tell you why the deleveraging of the economy – and the hospitality industry – will create opportunities and problems of the greatest magnitude in recent memory.
Just as Hetty Green loved her children, I love a vibrant, healthy economy and a prospering lodging industry. But I don't have any silver bullets when the spirits of panic and financial crisis present themselves. So like Hetty Green, next to a vibrant economy, I can find much to love about a good panic. The opportunities are incredible, and they are finally upon us.