What hoteliers need to know to succeed next year
It’s usually simple and never easy to know how to approach each year.
For 2025, some key trends are critical for all of us as hoteliers to compete successfully. We must differentiate ourselves from short-term rentals; the transparency laws enacted this year will help us.
Next, we must attract guests and locals to our restaurants and bars with exciting new products and at a profitable price point — that is difficult given the high cost of food and labor. Think about using artificial intelligence (AI), as everyone else will use it soon. It can build menus, analyze market data, control room temperatures, improve revenue management, and create social media draft posts.
Capital markets
Interest rates remain high, but that will change as the U.S. Federal Reserve realizes that a recession can be averted. The U.S. presidential election has the masses on edge. There has been and will continue to be a downturn …