The travel industry, both business and leisure, has taken a beating in the past 18 months. Travel spending tracked in the U.S. is down over 12% in 2009, that coming off a 2008 that was down about 5%. So you can imagine how challenged the leaders of travel companies large and small have been to manage profitable operations when faced with negative growth. How do companies in the hospitality business, who really have to cater to their customers to keep them, do it?
A recent survey of seven hotel chain CEO’s by HVS Executive Search hightlights some enduring truths regarding leadership behavior in tough times. You can check out the comments by these CEO’s at http://www.hotelnewsresource.com/pdf8/LASept2009.pdf.