September 02, 2013

Starwood CEO defines the future of hotels in ‘age of great change’


Starwood Hotels & Resorts CEO Frits van Paasschen defines today’s shifting global travel economy, tomorrow’s hotel trends and how his company is adapting to those trends ahead of the curve.

One of the main forces behind the Age of Great Change is hyper-connectivity through technology. And this is reshaping the global business environment at least as much as that rising wealth.

There were 500 million internet users in 2000. Now there is roughly two billion. In the next decade, that two billion goes to five billion. And sometime over the next year or two, there will be more mobile phones than there are people on the planet.

With technology changing this quickly and this profoundly, we have no idea what’s going to happen. The best we can do is get a glimpse by seeing what’s happened over the last few years up until today.

Technology has changed the way we work and the way we live. But it might also be changing the way we think…. For example, today’s luxury is turning into tomorrow’s necessity by technology. And this is something that’s been happening for a long time.

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