2022 NYU International Hospitality Industry Investment Conference

Despite inflation, rising wages and labor shortages nationwide, hotel executives show no signs of concern about recession.

Hoteliers met in New York City on June 6-7 for the NYU International Hospitality Industry Investment Conference, and speakers exuded confidence about the healthy performance of the hotel industry as leisure travel booms and business travel gains momentum.

If a recession does happen, Michael Lipson, CEO and chairman of the board of Access Point Financial, said hospitality is built to withstand it.

"My view has always been that there’s no better place to be in a recession than hospitality, because it’s going to improve every day as the market gets better and you reprice every day," he said. "And don’t forget what I call the cultural anthropology side of this business — people are going to travel. Do you see some movement down, from luxury to midscale, if the economy doesn’t do as well? Maybe, but it’s still going to be a strong recovery for us.”

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