Geopolitical and global economic issues seem to be converging all at once, but business in the the U.S. hotel industry isn’t expected to soften anytime soon.
Still leaders in industry say they must not get too comfortable with the headwinds.
Michele Allen, chief financial officer at Wyndham Hotels & Resorts, speaking at the NYU International Hospitality Industry Investment Conference, said while the strength of leisure demand continues to be sturdy, her team is “not burrowing their heads in the sand with respect to the broader concerns with what might happen after the summer season.”
“At Wyndham, we are preparing for any and all scenarios,” she said during a panel titled “Perspectives in Leadership: Focusing On Staying Focused.”
Heather McCrory, Accor’s CEO for North and Central America, said there’s push and pull within the industry, and leaders face four key factors — the economy, labor, guest expectation and putting environmental, social, and governance initiatives in place.