U.S. hoteliers brace for a steadier, but still constrained 2026

Cautious optimism replaces disruption as operators focus on efficiency, talent, and selective growth

Hoteliers attending the Americas Lodging Investment Summit described 2026 as a year of relative improvement rather than outright recovery. While few expect conditions to be easy, many see a less volatile environment than 2025, creating space to focus on disciplined execution at the property level. Rising costs, modest revenue growth, and structural labor challenges remain, but industry leaders emphasized adaptability, talent investment, and targeted use of technology as key success factors. The prevailing view was that performance in 2026 will favor operators who can do more with less while positioning for longer-term shifts in demand and consumer behavior.

Key takeaways

• Relative improvement, not a rebound: Industry leaders framed 2026 as better than 2025 rather than strong in absolute terms, with stability itself seen as a competitive advantage.
• Efficiency becomes a core strategy: Success is expected to come from optimizing existing operations and driving performance at individual properties rather than relying on broad market growth.
• AI as behavioral change, not just technology: Executives stressed that artificial intelligence is reshaping consumer behavior and operational processes, requiring new skills, systems, and talent closer to execution.
• Luxury continues to outperform: Luxury and ultra-luxury segments are pulling further ahead, supported by affluent travelers’ willingness to pay for distinctive and authentic experiences.
• Brand growth pressure creates owner opportunity: Major hotel brands are offering more aggressive incentives and deal structures to sustain growth, potentially benefiting owners and operators seeking favorable terms.
• Labor attraction and retention remain critical: Turning hotel jobs into long-term careers through training, development, and competitive pay is viewed as essential to sustaining service quality and performance.

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