Top three takeaways from recent trips

Stephanie Ricca

Stephanie RiccaIt’s been a whirlwind month of travel for all our staff and you’ll see the results of all our time on the road in this issue—we have more coverage from the International Hotel Investment Forum, plus stories from the Hunter Hotel Conference, the HELP investment conference and the Cobblestone Hotels brand conference. This is just the tip of the iceberg of the events we cover all year, and we do it so we can bring that knowledge and information back to our readers. What I find most interesting is seeing the trends that emerge from all these conferences and events—that’s the only way to really determine what’s actually going on out there. For example, think about hotel supply. For months we have heard that supply isn’t really a critical near-term problem and that developers can continue to “kick the can down the road” (to borrow a way-overused phrase from the recession years) when it comes to worrying about new supply. But recently I have heard whispers at conferences—and sometimes outright roars (see “Is new supply ‘the biggest disruptor coming our way’?” on page 10)—that the next supply explosion may come faster than we think.

The second big topic going around all these events is that leisure travel is back, in a big way, all over the world. Economy hotel owners and developers say it. Midscale select-service owners and developers say it. Luxury owners and developers have been saying it all along: Leisure travel is picking up and it’s happening around the world and within all segments.

Third: We know that every time hoteliers get together for a conference (heck, they probably do it when they get together for a happy hour), they have to have a “numbers update,” where economists and market research forecasters crunch the numbers when it comes to fundamentals and pipelines. The most often-said two-word phrase coming out of all the recent numbers updates I’ve heard? You guessed it: “Raise rate.”

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


So let’s connect the dots: New supply is looming. Leisure travel is back. What’s the logical next step? You guessed it: Raise rate.

Oh, and I would be remiss when talking about conferences not to remind you to register for Hotel Management’s own conference, NATHIC. This year’s event takes place Nov. 19-21 at the fantastic Hyatt Chicago Magnificent Mile. For registration and more information visit www.nathic.com. See you there!

Correction

One last thing: Below you'll see a reprint of the top five companies ranked in this year's Top Third-Party Management Companies survey, which ran originally in the March issue. Due to an error, Aimbridge Hospitality's numbers were submitted incorrectly. The corrected top five are listed below. 

Suggested Articles

The company’s new CFO believes creating a true partnership with franchisees and team members is the foundation for success.

During the first day of Hotel Optimization Part 2, panelists discussed employee wellness and finding new sources of business.

Hospitality sector recovering as economy reopens. Hotels, along with other commercial properties, began to see rising foot traffic in late Spring.