A new study by McKinsey & Company and LeanIn.Org reveals that over the past five years Corporate America has made some progress in gender diversity, including increasing the number of women in leadership.
Although that finding is promising, women remain underrepresented in business leadership across the board and continue to lack access to opportunities available to their male counterparts. Representation of women in high-ranking leadership has grown since 2015, according to the findings in the report titled Women in the Workplace 2019.
Forty-four percent of the 330 companies participating in the study have slightly increased the number of women in executive roles.
The 44 percent have three or more women in their C-suites. That’s up from 29 percent of companies in 2015.
It’s progress, but it’s not a dramatic difference. This and other studies show women continue to face barriers to leadership and financial gain in Corporate America, including the hotel and travel sectors.
As the year 2020 kicks off we wanted to check in with some women in the hospitality and travel industry who are either role models of leadership or are organizing programs that celebrate, educate and empower women to keep climbing and not stop until they reach the top.
This episode is the first part of report about the progress women are making in leadership in the hospitality industry. It is a mix of interviews with guests, including Peggy Berg, founder of Castell Project; Kristin Intress, returning CEO of WorldHotels; Laura Mandala, founder of Mandala Research and creator of Women in Travel and Tourism International; and Clara Carter, founder of Multi-Cultural Convention Services Network and founder of Women in Tourism and Hospitality.
Resources and Links
Lodging Econometrics has tracked the hotel industry since 1998. Its global database includes new-hotel pipelines as well as renovations and brand conversions. Hotel franchisers once eager to launch new brands are focused on converting existing hotels because it’s a faster way to recover revenue lost to the COVID-19 pandemic than through new construction. In Episode 346, Lodging Leaders explores the increasing number of conversions in the U.S. hotel industry and what owners and operators need to consider before repositioning an asset.
In the first few months of the COVID-19 pandemic in the U.S., financiers anticipated a swell of distressed hotel businesses. Some raised rescue funds to respond to what they thought was a pending crisis. Though there are financial rescues taking place, the level of such activity is far below what industry advisers and fund managers expected. Commercial real estate investors positioned to act in the early days of the pandemic held off and are now just beginning to unleash their cash hoards totaling billions of dollars. Episode 345 of Lodging Leaders podcast explores the state of capital investment in the hotel industry.