Especially given the current domestic recession, many brands are looking to add franchisees or build new hotels overseas.

Starting in 2010, many markets will start to get a breather as the number of openings has dropped considerably.

In an environment where every day and every dollar are scrutinized more than ever, hoteliers are challenged to get properties open just as seamlessly and often with fewer resources.

Hotel companies have taken a hard look at their balance sheets and are now implementing strategies on how to spend their cash. Executives from Starwood, Rezidor, Jumeirah, Marriott and Hilton talked development at the International Hotel Investment Forum in Berlin.

As many businesses find themselves with shrinking revenues and in a challenging competitive marketplace, there is no more important time for organizations to think differently about their sales targets and revenue opportunities.

Green takes on many forms in hospitality. For the boutique hotelier, it can be a point of differentiation from powerful brands and other direct competitors.

At the International Hotel Investment Forum in Berlin, CEOs from Wyndham, Choice, Accor, Carlson and NH Hoteles debated the value of branding and loyalty programs.

Small real estate footprints in high-cost cities like New York and San Francisco mean conversions are likely the most cost-effective option and financing still remains difficult. But developers who can find a way around these challenges may find opportunities to develop urban timeshare projects that are in demand by new sets of travelers and in a market with very little competition.

Roger Bootle, managing director of Capital Economics Ltd., told attendees at the International Hotel Investment Forum that the world should expect seven "quite profound" consequences of the economic recession.

Hotel investment players warn that issues looming outside the industry could further hamper the recovery.