The positive trajectory that Rauch expects to see continue is fueled by growth in group, corporate, and leisure travel. Rauch also expounded on three key issues facing the hotel industry: Chinese travelers, the rising impact of Millenials, and the importance of digital marketing. Nearly 100 million Chinese travelled overseas in 2013 and that number is expected to increase by over 10 percent in 2014.

Rauch touched on the importance of courting Millenials (typically people born between 1980 and 1995) who he described using three “W”s – wired, web savvy, and word of mouth.

JMBM's Maisnik discussed the impact of international and particularly Chinese investments on the U.S. hotel market. Reay shared with the audience that he is now involved in a number of transactions in which he is selling hotels to developers who simply tear them down and build new, particularly in San Diego. The lack of land and no need for rezoning makes this option attractive, especially when there is major pressure from the brands – Hilton, Marriott, IHG and Starwood in particular,– to make major upgrades to assets that are as little as fifteen to twenty-five years old to cater to Gen Xers and Millenials.