Change picks up pace, restructuring too!
By Georges Panayotis, President & CEO - MKG Group
Bold to his father, at the Battle of Poitiers. History's teachings remind us that threats can come from anywhere and we must look wide and far to not be caught by surprise. Today, danger lurks in the increasingly rapid market change and among its actors, whether they are customers or producers. But the right know-how can turn these dangers into opportunities to be exploited.
new tools and changing needs. The young generations that are the most receptive to these changes let us know when we take their reactions into consideration. If John the Good had listened to his son, he would not have spent a few years moldering in the lack Prince's dungeon.
In the end, the market is always right... It would be illusory to try to fix positioning asthe customer will always find an alternative that corresponds better to his passing desire. Only those properties that are perceived as the best or most innovative in their category can guarantee the longevity of their model.
Adaptation has become a necessity, notwithstanding a decision to avoid the main trendsdue to lack of financing or flexibility. As in the past, but undoubtedly with even more strength, the competition can come from surprising horizons that are more in tune with today's trends. Be they hotel concepts, new kinds of accommodations or even destinations. These new arrivals both encourage well-established players and offer a breath of fresh air to an industry that needs renewal.
If we chose the theme "Is the hospitality industry entering into a new dimension?" toset the tune for the panels and presentation at the next Global Lodging Forum, it is not by chance. Our desire is to feed debate when it is necessary and to question the ways that are opening up to prepare the future. Restructuring is a permanent movement requiring permanent vigilance.
The Forum is also an opportunity to welcome new members into the family. They bringa lot with their freshness. As we have done since the beginning, we include the experiences of neighboring sectors to enrich ours with their complementary vision whether they hail from the luxury industry, transportation, the world of finance, commerce, or the Internet. They will be back for the 18th GLF and I invite you to come see and hear them again.