This Week's Herman Trend Alert The Consequences of Virtual Meetings

The Herman Trend Alert March 11, 2009 Global Hospitality's Near-term Future A recently released study, conducted by Ernst & Young, LLP, reflects some interesting developments in the hotel industry. Throughout 2009, contracting economies and reduced leisure/business travel across much of the world will continue to put pressure on global hotel markets. Operating performance in the global hotel industry remained profitable, because most hoteliers focused on controlling costs and preserving the bottom line. As a result of the challenging economy, hotel operators will continue to concentrate more of their energies on cost reduction, improving operating efficiencies, reaching out to guests via enhanced Internet communication, and strengthening their brands through an emphasis on green principles. In its market reports and in-depth analysis of the main lodging segments, The 2009 Lodging Report carries an overview of global, including US, hotel sectors. The report also features ten main areas on trends and issues to watch in this sector in 2009. Here are some highlights: With further contraction in the economy, hotel values will continue their decline in 2009. Expect cash-rich buyers to exercise their advantage and buy commercial real estate at fire-sale prices with numerous transactions before year's-end. Hotel companies moving quickly to pare overhead at the corporate and property levels will not only save money, but will position their enterprises to be more dominant players for the next cycle. A recent Google survey suggested that one-third of travelers made accommodation decisions, based on reviews found online. This year will see wise hotel operators improving their Internet brand presence. While no region of the world is immune to financial turmoil, regions such as. Hotels in Asia Pacific, the Middle East and North Africa, and Latin America may offer stronger investment alternatives during this slow down. These regions have large and growing economies and populations with a relative scarcity of lodging. Look for China, India, Vietnam, and Brazil to have the leading future growth markets. Green hotels are gaining momentum throughout the world. Cruise operators have downsized their offerings, cutting some expensive international routes in favor of cheaper and shorter routes from Baltimore and Miami. US hotels will benefit from the funneling of additional federal dollars into US infrastructure. © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." BACK BY POPULAR DEMAND: RETENTION SPECIALIST PROGRAM A growing number of people have expressed an interest in attending our Employee Retention Specialist Certificate Program. We'd like to schedule on that's convenient for those who want to attend, but need your feedback to do so. Please place RETENTION SPECIALIST in the subject line and Joyce will personally call you back to schedule the workshop. Or you can call Joyce directly at 336-210-3548 (PDT this and next week). BUSINESS IS PICKING UP Most employers are unprepared. The recovery will bring a new set of challenges for employers that have been in prolonged contracted mode. They will need more skilled workers or will need now to begin to upskill their current staffs. But organizations can not engage in Strategic Workforce Planning, when they don't know how. That's where The Herman Group can help. We can help you with your "People Review"----large or small---so that you will know who you will need and when you will need them. . . and we can also guide you to the best sources for the people you will need. For more information, call Joyce at 336-210-3548 or e-mail joyce@hermangroup.com. FIND OUT WHAT YOUR EMPLOYEES REALLY THINK AND FEEL Discover what’s really going on in the hearts and minds of your employees. Our InnerViews interviewing service uses SPHRs and PHRs, certified human resource professionals to probe for the information you really need to know. Exit and Stay Interviews, as well as Why-Didn't-You-Take-Our-Offer Interviews. Call Rosalie Catalano at 937-416-7066, or read more at: http://www.hermangroup.com/retentionconnection/exit_interviews.html. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is received by over 30,000 subscribers in 78 countries, in addition to other websites and printed magazines. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Trend Alert service. Click here to sign up for the Herman Trend Alert. 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