While the 2026 FIFA World Cup is creating compression at hotels in cities where matches are being played, that doesn’t mean that meeting planners won’t be able to find space. Yes, some destinations like Austin and Dallas already had limitations due to convention center renovations, but there still could be short-term opportunities around World Cup matches, specifically for meetings that are going to be looked at in the year, for the year.
Michael Dominguez: Well, what I wanted to talk about Q2, we have the nuance of FIFA that is going to be impacting North America and specifically the United States. When you look at those destinations where these games will be played and where we will have fan bases, we will have compression. We'll have some pricing power. You're going to have a little bit of disruption in those markets from a group market for one reason or another.
Couple of things that I would highlight around FIFA and the compression we're experiencing. First to remember, we actually have a lot of large meeting space that is either out of order, out of commission or being renovated, and has a little bit of disruption around the United States. I primarily would mention Austin and Dallas. Dallas will be doing some things around FIFA, but please know that their convention center is already starting their work as far as an expansion and what that looks like.
But what does that mean? It just means that in a time of compression, we have more meeting space that is being taken off the table at this point in time. The positive is it will come back on the table with more space and will be more modern and, what I would say, fresher opportunities for many of us.
So, all of that is a positive long term, but in the short term is going to keep a lot of compression going through 2026. The one thing I wanted to emphasize for the planners, there could be short term opportunities in these destinations around FIFA, specifically for meetings that are going to be looked at in the year, for the year.
So, please don't write off those destinations. Please reach out to your hotels, reach out to your ALHI GSO so that we can take a look at it to see what options might actually apply. We're going to all learn as an industry and as a hotel industry together as we go through FIFA because it's been decades since it's been here.
This is something for us to learn and understand, and there will be gaps as teams lose, as certain alignments continue after the first draw. It's something to pay attention to and, no, it doesn't mean it's off the table; just going to be a little bit of a learning lesson for all of us involved.
So, this is a year more than ever for us to communicate, make sure that we are asking the right questions and learn together as we try to figure out each other's needs as we get through 2026. I'm excited about 2026 overall. I'm excited about FIFA Cup and I'm excited to learn what we're going to learn after experiencing a FIFA Cup here in the United States.