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Traveling Through the Recovery

Ways THL companies should consider navigating the upturn


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Over the last several years, tourism, hospitality, and leisure (THL) companies have experienced a downturn of historical proportions. Companies were glad to see 2009 come to an end. The protracted U.S. recession that began in late 2007, and the global meltdown of financial markets that occurred a year later, led to a sharp cutback in spending from businesses and consumers. As both leisure and business travel contracted, many sectors suffered multi-year declines that were the worst ever recorded by industry-watchers.

In this report we discuss several areas that THL companies might want to consider to help them “own the upturn” as the market slowly begins to heal. The following five insights may offer some of the best opportunities for hotel companies to improve cost expenditures, streamline operations, and connect with customers:

  • Information-Driven Enterprise Resource Planning (ERP) Initiatives
  • Virtualization and Information Technology (IT) Cost Reduction
  • Retaining and Managing Talent
  • Strategic Marketing
  • Strategic Cost Reduction

 

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