Well here we are people, it's that time and we haven't scored as of yet. It was supposed to be a good year, but that has been slow to happen. Is going into the second half going to be the same, or are we going to score? So far some aspects have been better than others, but not by much. Hospitality financing is still very tight as of this moment. I have to wonder if we actually got our numbers right. I see that some markets are barely holding their own, as opposed to last year. The luxury market seems to be moving.
We did see some huge buyouts - Blackstone purchased Motel 6 and plans to expand and probably make some changes. Shell Hospitality also changed hands. Dubai now has the largest or tallest hotel. The luxury market has surged upward, but if we have another downturn it will be the first to suffer. We really have to pay very close attention to where we expect to go and how we are going to get there. We need to make sure that the people who are in control of the industry are the best we have. I say this for there is a strong tendency to play follows the leader in this field. Who is the leader? And if this is the leader, is he/she right?
We are blasted with social media gurus all claiming to have the magic answer to increase sales and people will start stampeding to our doors. It took many years to understand revenue management, and there are still aspects of it that are new. Now there is social media, which is relatively new, and we have experts already. Go figure. There are a lot of people who understand the social media apps and how they function, and yes there are seminars and on line classes explaining the use of them. This does not make them experts yet. Social media is nice, but it essentially rest in the hands of the customer. How your property handles the social icons that link the property determines the emotional connection to the customer.
OK, the half time break is over we will now go out to the field and score what we advocated at the beginning of the game. Here is where we will shine or we will fall and just perhaps I may get to say "I told you so." If you don't want to hear this, then play well and make those touchdowns now. Make sure that whoever is your quarterback has the right information for the play at hand. Sometimes when you are at the home plate it is the most difficult time to score. Do not despair - plow ahead and cross that imaginary goal line and you get to do the victory dance. Not all hotel players will score, why is that? I shall go out on a limb and say it is the quality of managers that each property possesses. Like in anything you do it comes down to how badly you want it. It has already been demonstrated in certain properties that they did not want it badly enough. For those that have succeeded hurray for your efforts, and for those that are still trying - don't give up.
The Hotel Guy
In some cases Mr. Hotel
About the Author
Alan Campbell has been in Las Vegas for over 30 years and has worked for the major strip hotels. He has spent some time in California, Los Angeles where he worked for the Radisson and Sheraton hotels. Alan considers the hospitality industry the best job in the world - it is the only place that both kings and Paupers will visit you.