Amid news reports of cities adding new hotels, “what doesn’t get talked about enough is that many of those hotels that are being built today are limited service, ” says Michael Dominguez, senior vice president and chief sales officer, MGM Resorts International, told CNTV. “But the issue that we have had is that we have not been building ballrooms in that time frame. So the meeting professional is still feeling pressure.” And “that environment is not changing over the next few years,” he added.
Additionally, according to Dominguez, while the top 25 markest are at nearly 73 percent occupancy, second-tier cities with more space have suffered dramatic reductions in airlift.
What to do? “Be flexible,” says Dominguez. Watch in full above.