Remington Hospitality CEO on Wage Trends, AI, and Inbound Travel Recovery

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At The Lodging Conference I spoke with Sloan Dean, CEO of Remington Hospitality to discuss key hospitality trends. We talk labor costs, AI’s impact on the workforce, and the future of foreign travel in the US.

Key Takeaways:

2024 Outlook: Interest rates are falling, and wage inflation is cooling, providing relief for hotel operations.

Labor Costs: Wage growth is slowing, which is crucial since labor is the biggest expense in hospitality.

AI & Productivity: AI is not yet job-eliminating in hospitality but is improving productivity, allowing hotels to operate with fewer staff.

Foreign Travel Recovery: Foreign inbound travel, particularly from Europe and Asia, is rebounding, offering exciting growth opportunities for 2025.

US Travel Trends: While domestic leisure travel has stabilized, outbound US travelers are spending more than ever in foreign markets.

What’s Next: Sloan Dean is optimistic about business transient and foreign travel recovering fully by 2025.

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