What Hotel CEOs Think About Terrorism, Slumping Oil, Brexit and Other Woes
Photo Credit: Hyatt CEO Mark Hoplamazian speaking at last year's Skift Global Forum. He and fellow hotel CEOs lowered their earnings expectations for the remainder of 2016. Skift
Skift Take
The bigger questions on everyone’s mind in the hospitality industry: Is the cycle finally turning downward? Are the good times of high occupancies and revenues over? Should hoteliers be worried?
It's a challenging time for the global tourism industry, and the hospitality sector is no exception: Acts of terrorism. The immediate after effects of Brexit. The looming U.S. Presidential election. The state of the economy. Lower oil prices. The growth of short-term rentals. The spread of Zika. These are just a few of the major issues having a direct impact on the global hospitality industry.
But the impact of these various challenges isn't quite the same for all, and how companies are choosing to respond to them is, likewise, varied. And despite all of the uncertainty, hotel CEOs aren't giving up on a bright future ahead, entirely.
While most hotel CEOs remain somewhat optimistic about the immediate futures of their respective businesses, they've also tempered their financial outlooks for the remainder of this year, given all of these challenges, as well as the ones that lie ahead.
"The big takeaway from all the earnings call is that guidance for the remainder of the year ca
