The hospitality industry’s crystal ball is, unfortunately, just as cloudy this year as it was this time last year. Though we can perhaps take comfort in the fact that those clouds are just grey instead of black and stormy, uncertainty is still the only thing that is certain for the hotel and lodging industry in general. Even with positive GDP last quarter (indicating that the recession is technically ending), hotels, resorts and other lodging properties are still experiencing depressed demand, low average daily rates and stagnant occupancy. In other words, low RevPAR. No one can know for certain whether these negative trends will persist through 2010 but following are my thoughts and projections for what 2010 has in store for the hotel industry.

In my opinion, the recovery will not be a dramatic upswell but rather a gradual overall improvement of the travel market that will allow the most astute operators to thrive and where others will fail. Success in 2010, in our opinion, is there for the taking, but it won’t be easy.

1. Doing More with Less (Capital, Staff, Guests, etc.)

Despite the recovery, hoteliers should be prepared to do more with less this coming year. ...