HD Talks

The Presidential Effect

Posted by on November 10, 2016 in Events
The exterior of Trump Hotel International Washington, D.C., a $200 million renovation of the Old Post Office, with architecture by Beyer Blinder Belle and interiors by HBA

The exterior of Trump Hotel International Washington, D.C., a $200 million renovation of the Old Post Office, with architecture by Beyer Blinder Belle and interiors by HBA

After what is being called the most controversial campaign in U.S. history, Donald Trump’s surprising defeat of Hillary Clinton for the presidency was a great shock to more than half the voters (insert nationwide protests and Hillary’s winning of the popular vote), but also a positive outcome for some 59 million others in what is being called a “whitelash” in response to the status quo. There are many unknowns in terms of his policies (especially on immigration and social issues), but as reality sets in, the travel industry is starting to predict/respond to what the first hotelier as POTUS means for the next four years for tourism and growth—some are positive, others less so. As we at HD take our time to do a deeper dive (look for more soon at hospitalitydesign.com), we have gathered some key points and thoughts from other media outlets. Here’s what people are saying:

From Business Travel News:
Bank of America’s Head of U.S. Economics Michelle Meyer: “The medium-term outlook gets more complicated. On the one hand, president-elect Trump is advocating across-the-board tax cuts, which could be quite significant—tax cuts both to income levels and corporate tax cuts. That presumably would add to GDP growth in the medium term, especially if it’s accompanied by fiscal spending and infrastructure spending, for example.”

From Skift:
The Priceline Group Interim CEO Jeffery Boyd: “Firstly, with a Republican president and a Republican Congress, we could potentially see a more favorable environment for business generally in the U.S., and perhaps an opportunity for corporate tax reform. But it remains to be seen whether some of Trump’s campaign rhetoric will reflect policy priorities in Congress or whether international traveler behavior changes because of it.”

Norwegian Cruise Line President and CEO Frank Del Rio on Cuba: “With Mr. Trump’s win and his desire to grow our economy, coupled with the Republicans controlling both houses of Congress, I am more optimistic than ever that the embargo will be lifted soon, thus fully opening the door for commerce to flourish between our two countries.”

Euromonitor, International Head of Travel Caroline Bremner: “Travel and tourism is directly impacted by government policies on trade and immigration. Trump’s campaign rhetoric focused on immigration and the relationship, particularly with Mexico, will have a direct bearing on the performance of U.S. tourism, as Mexico is expected to overtake Canada by the end of 2016 to be the largest source of tourism demand to the U.S. The Trump presidency will also impact the flows of Muslim travelers to the U.S., with Foreign Relations estimating that a potential travel ban on Muslims to the U.S. could cost up to $71 billion per year and up to 132,000 jobs.”

Airlines for America spokesperson: “As noted in his acceptance speech and during his campaign, Trump’s $1 trillion plan to improve infrastructure is a first 100 days priority and recognized as a growth engine for creating high-paying, skilled jobs that move our economy forward.”

From Travel Weekly:
Eben Peck, ASTA’s Senior Vice President of Government and Industry Affairs in response to Trump’s tweet that he will reverse President Obama’s loosening of restrictions to travel to Cuba: “We’ve got a growing number of members participating in the Cuba travel market, and how quickly he moves on this, whether he moves on this at all, it’s really impossible to say. He’s going to have a number of priorities when he gets in there in January, but his last public statement about this was that he’s going to roll back Obama’s regulatory changes on Cuba, and that’s of concern.”

The grand lobby of the 263-room Trump International Hotel Washington, D.C., which recently opened in October

The grand lobby of the 263-room Trump International Hotel Washington, D.C., which opened in October

 

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