Zoran Pejovic, founder of Paradox Hospitality, reveals the pitfalls and opportunities travel businesses face in achieving success in a volatile world.

In the travel and hospitality industry, far too many executives find themselves in a cycle of chasing immediate wins, transitioning from one "hot" project to another every 18 to 24 months. It might look as though bigger paychecks or more exciting opportunities drive them, but in reality, they are often propelled by a relentless demand for quick results.

As soon as a project starts to require deeper groundwork and long-term strategy, the pressure mounts, and these colleagues move on before they can see their original vision fully bear fruit. This is not about placing blame on owners, executives, or industry experts; it is more about recognising a collective pattern sustained by the perception that there is little real control over long-term outcomes.

We like to believe we can steer every aspect of a project or a business, yet countless factors, ranging from economic changes to social trends, are always at play, shaping what we call “success”.

At first glance, the notion of having limited control is unsettling. Our desire for agency is deeply rooted; most of us prefer to believe that we are the primary authors of our own destinies. In reality, however, many of our decisions are influenced by circumstances we cannot foresee, market forces we cannot fully predict, and even internal biases we are not always aware of.

That does not mean that our actions are meaningless, but rather that their significance comes from how we frame them. The perception of control provides psychological comfort, and as such it is a strategic necessity. It enables owners, executives, and teams to commit to long-term goals despite uncertainty.

While full autonomy may be an illusion, the ability to shape a coherent narrative around a shared vision gives people the confidence to persist through inevitable challenges.

Building a business that lasts

To build something that lasts, imagine shaping your future the way you would build a sturdy staircase, step by step. The first step is relevance. Whatever your role is, whether repositioning a single property, transforming an entire destination, or redefining your business mix, the focus should be on creating a meaningful connection with your audience, community and team.

This effort has to go beyond simple marketing pitches, corporate lingo and increasingly these days AI-generated emails that say a lot, but not anything of substance. It is about speaking directly to the needs and aspirations of the people you serve. When you achieve relevance, you are sending a message that you have something genuinely valuable to offer, and you are doing so in a way that resonates on a human level.

Validating your vision

The next step is validation. Once your project or strategy begins to demonstrate its worth, industry experts, media outlets, and pivotal partners will pay attention. Validation might take the form of favourable reviews, recognition in trade publications, or endorsements from well-respected influencers in your market segment.

The real value of validation is its power to show that your actions are part of a thoughtful, longer-term plan rather than a collection of hastily executed tactics. These endorsements add weight to your credibility and, crucially, strengthen the confidence of everyone involved. When team members, investors, and local stakeholders see the outside world affirming the direction you have chosen, they begin to trust more fully in the plan.

Expanding your foresight metrics

One major hazard along the way is the tendency to rely on isolated data points. The travel industry often celebrates numbers – occupancy rates, RevPAR, social media metrics – until they become ends in themselves. There is nothing wrong with data, of course; accurate insights are vital for shaping the next steps. However, when data is stripped of context, it becomes a distraction rather than a guide. Think of tossing a stone into a still lake.

You will see multiple circles expanding outward from the point of impact. If you focus only on the nearest ripple, you lose sight of the broader pattern. True strategic insight comes from reading the full landscape and understanding the relationships between different metrics, long-term trends, and external variables. A responsible approach to data is not about reacting to each fluctuation but about recognising patterns over time, and distinguishing between noise and meaningful signals.

Avoiding short-term reactivity

Nowhere is this roller-coaster effect felt more acutely than in seasonal destinations, where businesses swing between full capacity and closure every year. This yo-yo effect intensifies the pressure to show swift gains. The unpredictability can lead professionals to enter a new role with an internal countdown, saying, “I’ll give this two seasons before I move on.”

Such short-term thinking can make it difficult to cultivate a true sense of belonging and commitment among stakeholders. It also prevents a long-range strategy from taking root, leaving a legacy of half-formed ideas rather than a cohesive, mature vision for the future.

Sharing a narrative

The key to breaking this cycle lies in communication, specifically in providing people with a shared language and framework that helps them navigate uncertainty. When you are shaping a new direction for a property, destination, or business portfolio, it is crucial to articulate your thought process at every stage. Show your team and partners how each step, however small, aligns with the greater plan.

For instance, if you choose to invest in a niche market segment, explain why that segment is relevant in the context of evolving geopolitical and demographic changes. Describe the bigger value proposition that this choice supports, and clarify how it fits into the broader narrative you are building.

By offering context and a unifying story, you enable others to describe the journey to themselves and their peers. This sense of clarity reduces frustration because people understand not just what is happening, but why. When they have the language to explain the strategy, they feel more confident explaining it to themselves, colleagues, or investors.

Suddenly, instead of feeling like cogs in a machine driven by market forces and your whims, they see themselves as active participants who contribute meaningful ideas and actions. Even if the ultimate level of control is limited, the perception that everyone is collectively steering the ship can be profoundly motivating.

Identifying the bigger picture

In the end, the goal is not to pretend that we have full control over every variable, but rather to create an environment in which everyone feels they have a stake in the outcome. By building relevance first, seeking and celebrating validation when it comes, and being mindful not to over-interpret single data points, you set the stage for sustainable progress.

By communicating every step in a transparent, consistent way, you equip your team and stakeholders with the tools to see the bigger picture. Ultimately, you shape a legacy that stands the test of time, built gradually but deliberately, step by step, fact by fact, and anchored in an inclusive vision of success.