Hotel Management asked the president and CEO of Hampshire Hotels Management about what he is most excited about in 2015. As a management company, Hampshire has its eye on new additions to its porfolio in the coming year. Here's what else he thinks about his company and the industry as a whole.
Hotel Management: How will the hotel industry fare in 2015 in terms of overall operating metrics and profits?
Eric Danziger: I think the industry will continue to improve in the next year, with continued focus on services and value added while growing rates at a respectable level.
HM: What specific or significant goals have you set for your company in 2015?
ED: Our 2015 strategy is all about continuing to look for ways to do what we call ‘activation of spaces’ within each building. This means more revenues per square foot of space. All spaces. To begin to leverage the company’s growing size in order to bring greater value to each hotel in terms
HM: What challenges—within the industry or within the world at large—have the possibility to upset the current general optimism within the industry?
ED: Naturally, this is location specific. Certain countries are beginning to experience unique growth (Africa is an example), which a few years ago wasn’t contemplated. Likewise, instability and social unrest in others can doom a market for years.
HM: In 2015, where are you concentrating your company’s growth and expansion?
ED: With the introduction of our new brands, and reconfiguration of others, we expect significant pipeline additions. This will be principally in the U.S. in 2015, although I anticipate some global growth as well. That, however, is really a longer-term strategy for us. Our conversion plans for three of the lifestyle brands are aggressive and exciting. Meanwhile, we have five or six Dream hotels underway.
HM: What areas within the hotel industry will deserve the most attention in 2015 that may not be on our radar now? For example: Labor issues, government/economic issues, etc.
ED: Government and economic issues are always on the radar. I continue to believe the area of recruiting and retention of hospitable people for the hospitality business is a major challenge. This industry must continue to be positioned as a great industry to work and grow in.