Strategic Hotel Capital president and CEO Laurence Geller has called on the hospitality and tourism sector to "embrace" trends driven by advances in digital and social media.
Addressing industry delegates at an event in London, Geller said there was a need to address the "relentless pace of change" fuelled by community-based channels such as TripAdvisor and Facebook.
Geller said: "Consumers, media and other stakeholders have gained incredible power, which they readily use to reward or punish companies often at lightning speed.
"As the pace of change accelerates, there is a greater need for effective leadership and the fundamentals of effective leadership will always be critical."
Geller was speaking in his capacity as a member of the international advisory council for the International Leadership School - a partnership between the industry and three academic bodies.
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