Where does hospitality fit in industry mix?
, Mid-Market Hotels
"The industry is going through a renaissance in itself. And I think the industry is trying to find out are we in the operations business? Are we in the distribution business or are we just growing for the sake of growth? And some smart people would say that all the three. I think at the end of the day, our core business is running hotels and managing hotels. Steigenberger does that the best. And we want to focus on that. And at the same time create more and more growth opportunities so we become more international. And as I said earlier, export, hospitality made in Germany."