Dan Peek , president , JLL Americas Hotels & Hospitality : The interest rate cuts and improvements in the lending market will be a key signal that better days are ahead for capital marketsfocused firms . A more diverse and robust pool of international bidders , particularly from the Middle East , would significantly impact the transaction market in a positive way . So far , international capital has been muted , mostly originating from |
Dan Peek |
Canada , Latin America , and to some degree , Western Europe . Gregg Forde , president & COO , Island Hospitality :
Gregg Forde
We focused heavily on employee retention , especially coming off the labor market volatility the last few years . The result was a nearly 25 % reduction in turnover that positively impacted the bottom line on total labor costs and created a better work environment for associates . The other key focus was our commercial strategy . We
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increased corporate personnel dedicated to sales and revenue management , added technology to enhance our business insight and focused on disciplined execution of our strategies . Ben Perelmuter , president & COO , TPG Hotels & Resorts : Operations all the way . We are most focused on cost control and strategizing creative ways to model the middle of the P & L statement to offset higher fixed costs . We realize that this is key to keeping the hospitality business a continued attractive investment and are leveraging both technology and leadership to execute . We are also mindful and aggressive in maintaining high service standards and |
Ben Perelmuter
brand performance . In terms of growing the business , we are focused on high-quality ownership groups and partners . Serving a smaller stable of clients enables us to provide higher levels of service and execution and ultimately drive value creation . Chad Sorensen , managing director & CEO , CHMWarnick : We are focused on driving performance and unlocking value that isn ’ t
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easily identifiable . We have been all-in for the past 10 years on utilizing business intelligence to drive asset-level performance . As we look toward 2025 , and the generally muted RevPAR growth and greater cost burdens than the industry has historically seen , identifying unconventional ways to drive performance is more important than ever .
HOTELS : What will be the biggest difference between 2025 and 2024 ? Jess Petitt , SVP of strategy , insights & analytics , Hilton : Change happens slowly , but it is happening in foundational ways in our industry . For instance , the desire for lifestyle and luxury hotel experiences will continue and spur further development from the ownership community . Additionally , business and group travel will continue on their path to normal seasonality , with some key shifts . We expect an increase in the number of smaller meetings , off-site team gatherings and incentive travel . GenAI will continue to mature , with the first guest-facing applications likely changing
Jess Petitt
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Jan / Feb 2025 hotelsmag . com 11 |