Performance 9 June 2017
The hospitality industry continues to play an integral and robust role in the global economy. In 2016, key themes in the sector included innovation, globalization, technology and consolidation. Cross-border investment, large-scale mergers and acquisitions, and technology, such as data analytics, have changed the global landscape for hospitality executives.
While investors and developers remain active globally, market participants enter 2017 with a more cautious outlook relative to the prior year. The growth observed in most global markets has begun to decelerate amid new supply and high asset pricing. And the less certain outlook within the global economy has prompted market participants to re-examine their business strategies in the year ahead.
Yet uncertainty does not inhibit opportunity. Advancement exists for market players that adapt new and improved technologies to make more informed investment decisions and offer services that align with changing consumer preferences. By embracing change and innovation rather than resisting it, industry participants will position themselves to find growth and new possibilities in disruption.
In this year’s Global hospitality insights: top 10 thoughts for 2017 report, we reflect on 2016’s global trends and seek to answer questions to help you build a better tomorrow in 2017, such as:
- How can you reduce the chance of cybersecurity breaches, but also understand the steps to resolve one?
- Following a merger, how can you prepare for a long life together?
- Is the future of your finance function robotic?
- Can asset monitoring unlock your asset value in times of uncertainty and change?
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