Vol. 25: January - February 2010
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Irrefutable New Year’s Resolutions I am always asked for my predictions for the New Year! Having been in Executive Search for the last 40 years and watching closely the hospitality market movements, I am usually right on my predictions! This year, my prediction is: “There is a job for everyone who wants one!” For example; based on the fact that there are over 200,000 full-service hotels worldwide from 1* to 6* (New York, London and Hong Kong have 4000 hotels alone), the average full service hotel has 70 rooms (so I was once told), and a World Wide average of 100 employees. This means that in the full-service hotel sector of 1* to 6* hotels, there are about 20 million opportunities. This does not count the projected openings of 500 new hotels in China this year, with an average size of 125 rooms and employing a minimum of 200 people. Thus, adding another 50,000 jobs. Starwood also just announced that they will add 12,000 new positions to the global work force in 2010. Then let us not forget the fast food and sit down/table cloth restaurant industry, where there are in excess of 1 million operations worldwide, employing an average of 10 people per unit. Meaning, there are another 10 million job opportunities. If you take all this into consideration and the fact that the average employee in the hospitality field works in the same job for only 9 months (and the hotel industry normally works on 2 year contracts between job changes ), it means in real terms there lies the potential for someone who is extremely flexible on where and what they want to do to have 30 million choices yearly. I therefore, predict that in 2010, if you want a job and you are flexible, then you will certainly get one. Global Trends 2010 One of the most interesting seminars at the WTM in November 2009 was “The Global Trends Report”. To kick off the New Year in a positive light, we thought we would share with you some of the opportunities, innovation and proactive measures to help reverse the slump in demand. This past year has shown us how quickly things change as the global financial crisis took its toll on the travel industry, with falling expenditure, lack of credit and rising unemployment causing a slump in confidence and demand. A full tourism recovery to precrisis levels is not expected until 2013, with emerging economies set to lead the world out of recession. Consumers are expected to embrace thrift for the long term and operators need to adapt. Global Trends highlights new consumer groups, changing expectations, new concepts and reviving old formats. In North America the recession has created a new consumer group, the “funemployed” who are cash poor, time rich and seek to make the most of rock bottom prices. Innovation is alive and well in the UK with concept - pop-up hotels - providing operators greater cost efficiencies which help the regeneration of deprived areas. In Europe leading operators on the cusp of rolling out concierge travel services to the masses. Female-only accommodation is an up and coming in the Middle East, a culturally sensitive concept that has international appeal. In Asia, golf tourism proves that Asians are unwilling to forgo their golfing in times of recession, even creating a golf fashion craze.Rebranding is the name of the game in Latin America, aiming to further its luxury credentials while Africa benefits from the “Obama Effect” boosting roots tourism. In the current climate, bold steps are critical to maintain a competitive edge in the rebound. See the full Global Trends in the Articles Section of this newsletter. Contact Information:
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