Hotelie Magazine

Hotelie Fall 2012 no classnotes

Issue link: http://pubs.sha.cornell.edu/i/106061

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Insights from Innovators Prospects for growth in global hospitality real estate " The following conversation took place in October 2012 between Adam Weissenberg '85, vice chairman of Deloitte and Touche's travel, hospitality, and leisure sector, and Jan deRoos '78, MS '80, PhD '94, HVS International Professor of Hotel Finance and Real Estate and executive director of the school's Center for Real Estate and Finance. Jan deRoos: I've seen in the last two or three years that hotel investors have to worry a lot more about what's happening outside of their city, their region, even their country, because it impacts them so heavily. Is that your view? Adam Weissenberg: I'm an optimist. I still think things are relatively good overall for our industry. The U.S. is coming back; we're still on the upswing. I see that in business travel, and group travel continues to grow. If you look at China, with eight-percent GDP growth, there's still plenty of opportunity for our industry to penetrate and expand. Brazil is preparing for the World Cup and will be preparing for the Olympics. Some worry about southern Europe, but it probably gets more press than it warrants. People want to travel. They don't want to give up their vacations, so if they can still spend, they will. On the business front, you have to travel. You saw what happened when we cut back on business travel after 2008; it had a major impact on companies' growth. deRoos: So are we really deeply into a good cyclical expansion? Jan deRoos '78, MS '80, PhD '94 Adam Weissenberg '85 10 School of Hotel Administration

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