Preparing for a Changing Market

By Aik Hong Tan, Principal, Greenwood Hospitality Group

As the industry reaches the peak of the RevPAR growth cycle, Aik Hong Tan discusses the need to put in place game plans to address the pending phase of slowing revenue growth.

“Overall, the real lesson here is to not overreact or panic but rather to be prepared. It is never too early to make plans for a market slowdown. Look at your contingency plans for revenue generation and expense optimization. By being prepared, one can always shine and differentiate from others, no matter the state of the industry at large.”

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