F&B, M&E, Ancillary Revenue

Talking about luxury in Monte Carlo involves more than just listing iconic hotels or mentioning astronomical rates. Over more than a century, the Principality has developed a very particular way of understanding hospitality: a precise blend of tradition, theatricality, aesthetics, and narrative. Hotels are not just places to sleep or be waited on, they are stories. Stories told through marble, staircases, silent lobbies, and almost choreographed gestures of service. And among these stories, three hotels occupy a central place in the construction of the myth of European luxury: the Hôtel de Paris, the Hôtel Hermitage, and the Metropole.

There’s a new 3-letter acronym circling the hotel tech sphere (yay): MCP. And before you yawn hit delete, this one might actually be useful.

For decades, hotel performance was judged by a narrow set of numbers – namely, occupancy, ADR and RevPAR. The room was the unit of revenue, and guests were measured in heads and beds. But that model no longer fits the way people travel, stay and connect.

I’ve watched hotel brands evolve quickly over the last few years. No longer are hospitality business professionals just hoteliers, but they must also now be experience architects. As experiential tourism continues to grow, hotels are investing in highly curated stays that speak to niche guests.Vinyl listening suites and sleep retreats are two examples of these packages that rose in popularity this year. There is one element that can make or break all of these guest experiences: sound.

When borders slammed shut in 2020, the meetings and events industry didn’t just slow down – it fell off a cliff. Global business travel spending plunged by 53.8% compared to 2019 as conferences were canceled, sales kickoffs went online, and incentive trips disappeared from corporate calendars.

Artificial intelligence has hovered on the edges of hospitality for years. Chatbots answered simple questions. Revenue tools nudged prices up or down. Automation handled a few routine tasks. Useful, but hardly transformative.

While food waste in hotels is often brought up to hotel operators, financial data shows us that owners are actually those paying the (high) price of this multi-dimensional issue. When we say “high”, we mean 2 to 6 bps of their GOP margin.This observation came out of a discussion between Benjamin Lephilibert, who has been developing practical and systemic solutions to help hotels reduce their food waste since 2012, and Johanna Wagner, who has been working with hotel investors in Europe since 2015, both as an employee and a consultant. A discussion that triggered a collaboration aiming at addressing this pressing issue from a different perspective. This collaboration led to the publication of a practical white paper specifically for hotel investors and asset managers, to make the business implications of food waste more visible to them and help them take action.

When Marriott International announced it would acquire the citizenM brand for $355 million in cash, the easy take was to call it "another lifestyle acquisition" in a long list of soft brands and hip logos.

For the past few years, the conversation around artificial intelligence in hospitality has been dominated by a single question: Will AI replace the people who run our hotels, inns, and operations? It is an understandable concern. The industry is grappling with persistent staffing challenges, and many vendors promise fully autonomous systems that can “take work off your plate.” The subtext is clear. You hand over decisions to the machine and trust that the black box will get it right.

Based on extensive industry research and expertise from EHL faculty members and the EHL’s renowned network of industry leaders, the EHL Insights Report: Hospitality Outlook 2026 offers an in-depth perspective on where the industry is heading in the coming years.