Wow, it’s been a rough couple of weeks around the world. First off, here in the U.S. we’ve had a bruising legislative battle over national health care and immigration control, a whipsawed stock market, floods in the heartland that wrecked much of Nashville and other places. Oh, and then there is that gusher of oil in the Gulf of Mexico that we can’t seem to stop.
In Europe and Asia, it’s been rather bumpy too: The Greek debt crisis has sped up the big drop in the Euro’s value, and growth in China and India is slowing while their domestic expenditures are rising to accommodate the needs of their growing middle class.
What does all of this have to do with our business? Lots, actually. When such things occur, it’s like stepping on a half-filled balloon–things don’t pop, but the pressure moves somewhere else. In our case, things like health care and immigration control affect how much companies spend on meetings and events versus other necessities, while Nashville had to relocate dozens of large meetings to other destinations on short notice after its floods. And the oil spill could spell trouble for the southeast’s travel and tourism market this year. Lastly, those international problems and situations will also affect how many international business traveler come here, and how many meetings multinational companies hold around the world.
My point today is that planning and running your business requires a much wider view than simply looking your next month’s occupancy rates and the doings of your immediate competitors. The world is smaller than ever, and hospitality people who don’t account for that in their business thinking will have it smack them upside the head at some point.
Pick a Topic of Interest
- Sustainable leadership – Creating our future now
- Group Business Poll
- UNIQUE ISSUES FOR UNIVERSITY CONFERENCE CENTERS
- Meetings in the Age of Distraction
- FF&E Strategies – Are you in control?
- Business Models: Conference Centers vs. Hotels
- Nashville and Las Vegas: Partners in the Struggle
- Take the Widest View You Can
- Welcome to PHG