Executive Report: January 2007
A positive outlook
Dare I say it but, we seem to be enjoying a period of sustained recovery - although due to escalating HR costs, overall, margins are still behind the 2000 levels. The important thing is that the outlook, on all fronts, is robust, underpinned by strong fundamentals. These are the ever growing appetite for air travel, the impact of the emerging markets of China, India and Russia and a generally positive economic outlook. It is the same for the USA where consumer confidence is waning and may set back the world's biggest tourism market in 2007. Even the threat of escalating oil prices has, for the time being at least, receded.
In this edition, we take a closer look at the future consumer, the power of brands, the emerging market of Brazil, the future of the casino industry, the increasing public to private play and focus on the performance of the Middle East hospitality industry. All good news…….
As the New Year begins, the single most important ‘To Do’ on most CEO agendas is the war for talent. Changing demographics, an ageing population and a significant shortage of young talent in many developed countries means that the industry, more than ever before, needs to focus on recruitment and retention. The hospitality industry, with a non-managerial turnover rate of 50% and managerial turnover rate of 25% will simply not live up to its brand promise unless this critical issue is addressed. The war for talent is on. What is your winning strategy?
For more information, download our Executive Report (1142KB, PDF) for January 2007.
Executive Report 2006