FORECAST |
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Pete Sears
Pete Sears , group president , Americas , Hyatt Hotels Corp .: We expect to continue seeing strong meetings and events and business travel demand , with the desire for in-person collaboration , driving growth across both group and business transient segments . In Q3 , these two segments led Hyatt to system-wide RevPAR growth , with business transient customers being Hyatt ’ s singlebiggest YOY growth driver . For the leisure segment , travelers continue to desire more personalized and immersive experiences and we are seeing an increased demand for luxury and lifestyle stays and seamless ways for travelers to prioritize their wellbeing while on the road . Chris Trick , chief marketing & performance officer , Sonesta Hotels : First , the integration of advanced technology , such as AI-driven personalization , will enhance guest experiences and operating efficiencies . It ’ s really about the ability to connect with our guests in more personalized ways . Second , immigration reform with the new administration and the impact it will have on
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labor in hospitality . Finally , sustainability and eco-friendly practices will take center stage as travelers become more environmentally conscious . Amit Sripathi , CDO , Wyndham Hotels & Resorts : Interest rates will continue to be a focus and we ’ re optimistic when it comes to hotel development . Eighty percent of investors plan to maintain or increase their capital investment in hotels over the next 12 months . With below average supply over the last few |
Amit Sripathi
years coupled with lower rates expected to come into play , that opens the door for more deals to get done and increased new construction activity . The runway for infrastructure will also play an important role in 2025 . We ’ re seeing positive momentum in infrastructurerelated business , particularly in oil and gas markets . Maud Bailly , CEO of Sofitel Legend , Sofitel , MGallery & Emblems , Accor : Travel habits and the expectations of luxury guests have changed significantly leading to several major trends . First , there is a growing demand for multigenerational travel ,
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with families seeking properties that cater to extended family groups . Second , our guests are increasingly seeking authentic , locally anchored experiences that emphasize cultural exploration and demonstrate a strong commitment to social and environmental responsibility . Third , wellness has taken center stage since COVID , with a growing demand for retreats that embrace a holistic approach to well-being . Last , AI is transforming hospitality by enabling more personalized guest experiences . In the coming year , we will leverage AI to enhance efficiency . Bill Grice , president , head of hotels , Americas , CBRE Hotels : Debt capital markets and prevailing interest rates will continue to significantly influence hospitality industry transactions in the coming year . A higher interest rate environment has made strategic acquisitions and recapitalizations more challenging for owners and investors as they strive to meet their return targets . Despite these obstacles , there ’ s ample liquidity to support even the largest transactions . Leverage is increasing and credit spreads are
Bill Grice
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narrowing , both positive signs that indicate a notable rise in transaction volume in 2025 . Mike Woodward , EVP & chief growth officer , HVMG : Will the transactions market pop ? The industry has been waiting for the dam to
Mike Woodward
break for a few years now . For our portfolios , will the Safety Act that was passed in New York City spread to other major union markets ? This obviously could have a huge impact on the way we do business as an industry .
HOTELS : What are you most focused on in your business ?
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10 hotelsmag . com Jan / Feb 2025 |