This article draws on insights shared by Guy Lean, Managing Director of Madison Mayfair, during his appearance on Episode 43 of The Halo Effect; Hospitality Stories with Ashleigh & Michael Donald podcast.
Berlin in March has a particular energy — and when IHIF comes to town, that energy amplifies considerably. This year’s International Hospitality Investment Forum brought together over 2,500 industry leaders and more than 700 investors representing a staggering $581 billion in assets under management. For Madison Mayfair, attending IHIF has been part of our calendar since 2004, and each year the event reflects something important about where this industry truly stands. This year was no different — though what it reflected was more nuanced than most.
Cautious Optimism
The overriding mood at IHIF Berlin 2026 was one of cautious optimism. The geopolitical backdrop loomed large, a kind of elephant in the room that nobody quite named directly, though it shaped almost every conversation. Yet the tone was never defensive. What struck me most was the instinctive humanity of the leaders in that room. Before anyone talked RevPAR or occupancy figures, the first words out of CEOs’ mouths were about their people — are they safe, are their hotels secure? That impulse is not incidental. It is, I’d argue, the very thing that makes hospitality distinctive as an industry.
There was also a notable shift in the investment landscape itself. Approximately 30% of the investment representation at this year’s event was new to IHIF — a meaningful signal that hotels are increasingly being viewed as a standalone, institutional-grade asset class in their own right. The industry is no longer operating on the fringes of the broader investment conversation. It has arrived at the main table.
Leadership in a Broader Context
One of the sessions I am most looking forward to seeing again one the digital version was “The world in 2026 – Redefining strategies” featuring Janan Janesh, Associate Editor of the Financial Times and Robin Winkler, Economist from Deutsche Bank. It may have seemed an unusual choice for a hospitality forum, but it was absolutely the right one for IHIF. The message was clear: hospitality leadership can no longer afford to operate in a silo. The forces shaping our industry — macroeconomic shifts, structural change, geopolitical disruption — are the same forces reshaping every other sector.
Robin, he Deutsche Bank economist, was particularly compelling. His data suggested that, when viewed in its proper global context, the economic picture is not as bleak as the daily news cycle implies. The V-shaped recovery that hospitality has historically demonstrated holds true — we hit bottom hard and fast, but we bounce back with equal speed. Leaders who understand this pattern, and position their organisations accordingly, will be the ones who come out ahead.
The Competitive Edge
From Madison Mayfair’s perspective, perhaps the most significant theme at IHIF this year was the unambiguous prioritisation of talent. Historically, in any period of uncertainty, the first two budgets to be cut are training and development, and hiring. What I observed in Berlin this year was something different — a deliberate doubling down on people.
In highly competitive markets like Barcelona, where the hotel landscape is saturated at every level, the difference between performance and underperformance increasingly comes down to the quality of individuals in key roles. Whether that’s a General Manager, a Revenue Manager, or a Front Office Manager — operators know they cannot afford to compromise. The concept of top-grading is very much alive: organisations are actively seeking to strengthen their bench, not simply fill vacancies.
This is a trend we at Madison Mayfair have been observing and responding to. The conversations we’re now having with senior leaders have shifted from reactive hiring to long-term people architecture. The question is no longer just “who do we need now?” — it’s “who do we need to be developing, mentoring and preparing for the next step?”
Emerging Markets
Morocco featured prominently in conversations around emerging investment destinations, reflecting a broader appetite for diversification beyond established European and Middle Eastern strongholds. But with new markets comes a set of people challenges that should not be underestimated.
The perennial tension in any new-market expansion is between importing global leadership experience and developing meaningful local capability. Some nations mandate a percentage of local hires; others have strong hospitality traditions that can be leveraged effectively. What seems to have changed in the post-Covid landscape, however, is the reduced willingness of senior talent to relocate internationally for extended periods. A new generation of hospitality professionals — talented, ambitious, highly capable — nonetheless places far greater value on work-life balance and geographical stability than their predecessors did. For organisations expanding into emerging markets, building robust local talent pipelines is no longer a nice-to-have. It is a strategic necessity.
Europe as a Safe Haven
The positioning of Europe as a “safe haven” for investment resonated strongly this year, and it’s not difficult to understand why. The continent offers an unparalleled combination of heritage, variety and accessibility that no other region can match. From a talent perspective, Europe’s legacy of world-class hotel schools and its deeply embedded culture of hospitality excellence mean that the depth of available leadership is simply extraordinary. For brands expanding into or consolidating within the European market, the foundations — both physical and human — are as strong as anywhere in the world.
AI for Enablement
No hospitality event in 2026 would be complete without a substantive discussion of artificial intelligence, and IHIF was no exception. What was encouraging, however, was the maturity of the conversation. The focus has moved decisively away from speculation about job displacement and towards the more practical question of value creation. How can AI genuinely improve performance, drive revenue strategy, and support decision-making at scale?
Equally instructive was the session in which EQ Group were recognised for their exceptional work in asset management. While technology clearly plays a role in their approach, what truly drives their extraordinary results is the calibre of the asset managers themselves and the precision with which they execute their playbook. Technology amplifies great talent. It does not replace it. That distinction matters enormously, and it is one we continue to reinforce with every client conversation we have.
Succession Planning
If there is one theme I’ll be carrying from Berlin into every client conversation over the coming months, it is succession planning. Time and again, senior leaders told me they feel stretched (swamped was the word more than one used) and uncertain about whether the people around them are ready to step up. That’s not a criticism of those leaders. It is an honest reflection of the pace of change and the relentlessness of the current environment.
Bench strength has never been more important. In elite rugby, what comes off the bench is as strategically critical as the starting fifteen. The same is true of leadership. Organisations that invest in identifying, developing and preparing the next tier of leaders, even when times are hard (perhaps especially when times are hard), will be the ones who navigate disruption with confidence rather than anxiety.
There is an old question in the industry: what if you invest in developing your people and they leave? The answer has always been the same: what if you don’t, and they stay?
Looking Ahead
IHIF Berlin 2026 reinforced what Madison Mayfair has always believed: that in hospitality, people are not just one component of performance, they are the foundation of it. Capital flows, technology stacks and market trends all matter. But it is the quality of leadership, the depth of the talent pipeline, and the courage to invest in people even in uncertain times that ultimately determines which organisations thrive and which ones simply survive.
We left Berlin energised. The conversations were honest, the optimism, however cautious, was genuine, and the appetite to build something better was palpable. We look forward to continuing those conversations with clients, candidates and partners in the months ahead.
To discuss leadership hiring, succession planning or people strategy for your organisation, please get in touch.
Guy Lean, Managing Director – Madison Mayfair
+44 7813 009787/ +44 20 8 600 1180 / guylean@madisonmayfair.com
Mara Cattaneo, Recruitment Consultant – Madison Mayfair
+44 20 8600 1180 / maracattaneo@madisonmayfair.com
