Hospitality Experts Say the Worst May Be Behind Us

Has anyone else noticed that the news seems a little less negative lately? Words like "down," "drop," and "decline" seem to be popping up with less frequency—they haven't left altogether, but I certainly don't feel as assaulted by bad news as much as I used to feel. Hospitality industry news has been no different, it seems.

"One of the things that’s gotta happen, and we’re seeing it happen already, is the stop of the 24/7 onslaught of bad news,” said Steve Joyce, president and CEO of Choice Hotels International said at the 31st Annual New York University International Hospitality Industry Investment Conference, according to Hotel News Now. "You are seeing somewhat of a beginning of rallying of consumer confidence. The people that are employed think there is somewhat of a stabilization of the decline."

The consensus of the general session panel at the event seemed to be that the struggle is not over, but the worst may be behind us.

"You had a financial system that got a bit out of control and as it began to unwind it began a panic," President and CEO of Hilton Hotels Corp. Chris Nassetta said. "The panic part of what we were dealing with is largely over and hopefully we don’t retreat back into that."

Though notable recovery is not in the picture right now, panelists believe that emerging markets such as China, Brazil and India will be the places to look first for economic growth.

“China and Brazil—I think those economies have some muscle,” Gilles Pélisson, chairman and CEO for Accor, said.


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