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Image Credit Jonathan M. Tisch Center of Hospitality
At the 2025 NYU International Hospitality Investment Forum, industry leaders emphasized the importance of controlling costs and leveraging technology to maintain profitability in the hotel sector.
During the 2025 NYU International Hospitality Investment Forum, hotel industry stakeholders highlighted the ongoing challenges of rising costs and the need for strategic alignment to sustain profits. Remington Hospitality CEO Ben Perelmuter stressed the importance of cost control and proactive demand generation as essential strategies in the current economic climate. He advocated for a return to fundamental business practices and detailed planning to mitigate financial pressures.
Labor Costs and Management Strategies
Nelson Knight, President of Real Estate and Investments at Apple Hospitality REIT, discussed labor cost management, particularly through fostering a strong company culture that aids in talent retention. He noted that this approach reduces expenses and enhances guest experiences, leading to better overall outcomes. Apple REIT has implemented a management contract structure that incentivizes performance based on quarterly results and guest satisfaction, further aligning managerial efforts with corporate goals.
Technological Innovations and Efficiency
Joseph Bojanowski, President of PM Hotel Group, highlighted the role of technology in improving operational efficiency. The adoption of mobile check-in systems and optional daily housekeeping has contributed to cost control, although these measures alone are insufficient to overcome all financial challenges. Bojanowski noted the need for technological integration to handle repetitive tasks and streamline operations.
Industry Collaboration and Support Programs
Craig Smith, CEO of Aimbridge Hospitality, called for greater collaboration within the hospitality industry to address significant issues like labor shortages. He praised the American Hotel & Lodging Association’s apprenticeship program as an effective tool for attracting young talent and providing them with viable career paths in hospitality. Rosanna Maietta, President and CEO of AHLA, emphasized ongoing advocacy for tax reforms and federal immigration relief to alleviate staffing challenges, specifically highlighting the importance of securing H-2B visas and J-1 visas for seasonal employment.
The 2025 NYU International Hospitality Investment Forum served as a platform for industry leaders to discuss and devise solutions to the hotel industry’s pressing issues. Through a combination of cost control measures, strategic alignment, technological advancements, and collaborative efforts, stakeholders seek to navigate the complexities of the market and enhance the sustainability of their operations.
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