These challenges from the International Society of Hospitality Consultants seem pretty on the mark to me. Here are just the top five (for explanations and the rest of the list, click here).
1. Changing Labor Conditions (the labor union issues should be especially interesting in 2006)
2. Escalating Operating Costs
3. Impact of Rising Energy Costs on Consumer Travel & Hotel Demand
4. Escalating Renovation and Construction Costs
5. Havoc from Recent Natural Disasters
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