The opening sessions of the Americas Lodging Investment Summit indicated that the hotel industry is done waiting for a return to pre-pandemic conditions.
As the changes to travel continue, hoteliers are embracing the need to be more flexible.
The opening musical act, California Dueling Pianos, played tunes like "On The Road" as part of the conference's theme, "Turning the Page."
Jeff Higley, president of the Burba Hotel Network, said in his opening remarks that it was not a Pandemic and that it was now endemic. We decided to go forward with ALIS. Trying to get the industry back on its feet. We can move on with life as safely as possible with the help of everyone.
The attendees of the conference were more resigned to the current state of the industry than to the past. As the delta variant disrupted reopening efforts, there was a greater sense of frustration and worry.
We are getting through. People would like to get together. Capital is going back to the industry as demand is coming back.
Today, it is the delta variant. What will it be tomorrow? In the same ballroom in July 2021, Homi Vazifdar, managing director of the hotel investment firm Canyon Equity, said that this thing is like a bottomless pit.
The prevailing attitude is that this is the new landscape that hoteliers must navigate and wait for a return to 2019.
Business travel remains below pre-pandemic figures, despite the fact that leisure demand has driven the return of travel. The mix of hotel guests will not be what it was in 2019.
As things stand, new revenue opportunities are rearing their heads. Keeping an eye on how things progress and utilizing the fantastic tools we have available in the market to be able to monitor how things are changing on a monthly basis is vital. Otherwise, you are driving in the dark. We need to stop looking backwards and focus on the present.
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