FRHI Hotels and Resorts' Mark Sergot predicts increased room rates as demand returns.
One of the world’s leading hoteliers has warned meeting planners to expect tougher negotiations in 2015 as demand steadily increases.
Mark Sergot, senior VP, global sales organisation of FRHI Hotels and Resorts – which owns the Raffles, Fairmont, and Swissotel brands – says the balance of power is starting to shift towards the supply side of the industry again. As hotels start to report positive figures on increased occupancy and revenue growth, room rates are set to follow, Sergot argued.
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