The hotel industry doesn’t exist in a vacuum, so experts who spoke at the Hotel Data Conference last month said there are several things hoteliers should keep an eye on to gauge the larger economy’s trajectory and how it might affect their hotels.
During the “Cause and effect: How the broader economy influences hotel performance” session, presenters said hoteliers need to keep an eye on things like discussions around major governmental policy changes, how “traditional economic indicators” may be losing influence over hotel industry key performance indicators and several other things worth keeping an eye on.
Aran Ryan, director of lodging analytics for Tourism Economics, said not much has changed since the election of President Donald Trump to move most of his promised policy changes closer to reality.
“There are these opportunities that are visible with this administration that we could have things that could positively impact the economy in the short run, but then those are also balanced by things that are potential risks for growth,” he said. “And stuff could happen that may be on either side (of being either good or bad) that are somewhat unexpected.”
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