After 18 unprecedented months, it is time to make a new assessment. The summer season was rather satisfactory for a majority of destinations, but the trend is not confirmed in September. European performances are characterised above all by their strong contrasts. These contrasts are due in particular to a more difficult recovery in the MICE activity where it is clear that the major trade fairs have not yet returned to their normal attendance levels. From 2022 onwards, we hope to see a return to exhibitors, full schedules for convention centres and exhibition centres and a return to normal attendance.

The September 2022 milestone will also be a marker for our industry. The performance levels at that date will be indicative of how well it has recovered and how close to normal activity is.

In addition to the problems of visitor numbers, another important element has emerged during this autumn, a strong tension on employment present everywhere in the world, particularly in European countries, whether in Southern Europe, Germany or France. In a world where the fast food industry and the army manage to recruit, notably through strong communication actions, our sector must face up to the shortcomings of the last decade. It is necessary to make our beautiful professions attractive again. The hospitality industry often allows our employees to hope one day to be able to set up their own business, to benefit from learning a trade and from training, and the sector also gives them the opportunity to travel the world.

In addition to working on its image, our industry must allow for a work organisation that corresponds to the expectations of flexibility that the new generations have. Nor should we overlook one of the elements of the equation we are interested in, which is the revaluation of salaries within our industry. The subject of the quest for meaning, both for our employees and for our clients, is also at the heart of the issues at stake in the new cycle that is coming. Julia de Funès emphasised this in her speech at the Global Lodging Forum.

As with any new cycle, the economic context and broader issues are also important to consider in forecasting the development of our industry. One of the topics discussed by Christophe Barraud at the Global Lodging Forum was the context of inflation. Inflation can be positive, as it was in the 1980s and 1990s, but it can also be a cause for concern. Inflation in construction costs for facilities under development as well as elements related to the equipment needed to run our industry are topics that are being closely monitored and we will continue to provide you with indicators of the pace of recovery.

Don't miss our next events: the Hospitality Awards, a festive moment, symbolising the recovery and the pleasure of getting together. A competition which, this year, is a way for operators and those who do our job on a daily basis to highlight all the initiatives and innovations they have prepared for this end of the crisis. The Paris Asset Forum>hospitality, an opportunity to discuss together the levers of value creation, the degree of liquidity of assets and the new trends.

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