2. Get over 2008.
Yes, the recession hit the hospitality industry hard, but the industry recuperated—several years ago. “We recovered as an industry as a whole in 2012,” said Michael Dominguez, MGM Resorts International’s chief sales officer, in his keynote address. “Sometimes we act like we’re still recovering even though the industry’s been expanding for the last three years.” Dominguez reminded planners to be aware that every category of expense is rising for hoteliers, so they must budget accordingly.