December is the month of prognostication. Aethos Consulting CEO and Managing Director Keith Kefgen, New York, shares some commentary regarding labor costs and potential new hotel market segments, while Aethos Managing Director Dave Mansbach shares insights regarding the food and beverage sector.
Kefgen prognosticates about the following:
- Artificial Intelligence will make a big push into hospitality
- Real estate investment trusts will continue to be on the sidelines
- Proper Hotels will be the new hot brand in 2017
- Logistics will take over from “cyber” as the hot topic of the year
- “Say on Pay” will be abolished
- Unemployment will continue to decrease, causing wage inflation
- Student housing will be a target for growth from traditional lodging companies.
- US President-elect Donald Trump will have a great honeymoon period in 2017
- Trump Hotels Collection CEO Eric Danziger will be the most sought-after interview in lodging
Mansbach shares the following predictions:
- Local and regional fast casual brands in the U.S. will continue to take significant market share from national brands
- Private equity-led restaurant companies will be importing senior level talent from other segments of the hospitality industry at an unprecedented pace
- Restaurant industry compensation programs will become more strategic in nature, moving from homogenized, market-based positioning to that of strategic customization
- We will see changes in the casual dining space (chaos and innovation) at a pace like no other time in the existence of the chain restaurant industry