The first quarter of 2024 fell short of expectations, but top hotel brand CEOs remain optimistic about the industry’s future
Jun 7, 2024
During the CEOs panel on the first day of the NYU International Hospitality Industry Investment Conference, leaders of major hotel brands shared their insights on why hotels will overcome near-term challenges.
Key takeaways
- The industry’s growth is tied to expanding economies and the rising middle class, a trend that will not be affected by the pandemic;
- Global GDP continues to grow at around 3% to 4%, with significant growth in the middle class;
- Hotels are a cyclical business, experiencing progressively higher highs and lows over the decades. Some of the current lows are higher than previous highs;
- While major hotel brands aren’t experiencing the dramatic double-digit revenue growth of the recovery period, they are adapting to a more normalized environment of steady growth.
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