The bad news concerns the need for fresh investments in marketing and customer engagement, inventory distribution infrastructure and human capital i.e. the need to increase marketing budgets in 2011.

坏消息是酒店必须对营销和客户沟通、库存分销基础和人力资源管理进行规划。例如，你需要在2011年增加市场营销费用。

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All of these require significant financial and human capital investments to deliver long-term benefits and all make demands on the same limited resources.

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As HR becomes more able to value human capital investments and include them in financial statements, human capital consumption behavior will become much more transparent.

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In some richer countries, however, investments in human capital appear to have hit diminishing returns, the report argues.

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