SAN DIEGO, California—“The Hotel Leaders Outlook” panel at the Americas Lodging Investment Summit provided attendees with insight into some of the biggest hotel companies operating around the world.

In addition to value and sentiment on the industry during Tuesday’s "Hotel Leaders Outlook," which were discussed in the first part of this two-part series, the executives also weighed in on managing the economic crisis.

Industry leaders discuss the economic crisis during a general session at ALIS.

“It has forced us to take a good hard look at everything we do,” he said.  “This environment has given us the will to ask ourselves how we can be a better company, manage better, focus on the needs of guests, form the right relationships with our partners and reach out to our stakeholders.”

Gilles Christian Pélisson, CEO of Accor, agreed.

“After a few years of significant growth, we need to get middle management to change its frame of mind,” he said. “We did see we were getting a little fat, and now we see with new eyes, but yes there are (efficiencies) to be made. Today we shouldn’t be ashamed of dropping a project.”

Andy Cosslett, however, suggested that along with cost-cutting and efficiency, companies need to invest in the future—by focusing on sales and development.

“We’re a large global company that needed to march more efficiently,” said the chief executive of InterContinental Hotels Group. “We’re increasing by 30 percent the number of sales people around the world—a strategy should survive good times and bad times. … There is no question that there is a moment here in time when trouble comes and you have to stand together. This is when big systems have to turn on their taps and also rebalance activity for the next 12 to 15 months. And it can mean cuts here and investments over there.”

Gabriele Burgio, chairman and CEO, NH Hoteles, said it is important to look at energy management and water consumption.

It’s always important to be transparent with employees—communicate effectively and often, Pélisson said.

“It’s about giving the meaning of why we’re doing all this,” he added. “You have to keep management focused—in some countries it’s bad news after bad news. … You must be courageous enough to talk to the troops, and at the end, let them know where do we want to go when there is a recovery. Even as we take tough actions, they know where we want to take them in the future.”

Accor is also helping with development when necessary, according to Pélisson.

“Sometimes we’re stepping in as company,” he said. “We bought two pieces of land from our partner in Brazil because they couldn’t make it, but it’s a good project. There is going to be a lot of responsibility of the leaders to carry the ball, get financing, talk to banks, put pressure on them to lend, and talk to government and states.”

Madrid-based NH Hoteles owns and operates its own properties, and there is a unique opportunity for the company right now, Burgio said.

“In southern Europe, many companies are family-owned and over-leveraged, they have no chance to get through a difficult 2009,” he said. “So we are focusing more on existing stock, more than build-from-scratch (growth).”

At Starwood, deals that predated the financial crisis are being opened now, according to van Paaschen. “In the medium term, there won’t be the volume of deals signed, but the engine creating demand for hotels will return. The interesting thing about this moment is there will be distress … it may bring interesting opportunities for strong brands that are well-financed to take that opportunity.”