Hyatt has gone out to the owners of its hotels and let them know that it plans to launch “’an aggressive sales & marketing plan’ to drive more direct bookings...”. As so many are now doing, Hyatt is looking to reduce its dependence on the OTA’s and their associated cost model by pushing more customers to book direct. What’s wrong with this picture? The painting of the OTA’s as an ‘adversary’ is not only unwise, it is actually also unfair.
Transactions Vs. Experiences; What Does Your Property Offer?
With the never-ending parade of brands, sub-brands, soft brands, and more that enter our competitive marketplaces on an almost daily basis, it can be challenging to maintain focus on the day-to-day operation of our properties. As competition continues to grow, both in properties and in brands, it can become increasingly difficult for us to focus on those things which truly separate our properties from those of our competitors. While those things that we have done historically in order to effectively compete still hold true, we must also come to grips with the fact that we must learn to compete differently. No matter who you listen to or who you read, the data is everywhere: today’s guest wants more of an experience than a transaction. How are you addressing this in your properties?
Who Knows Hospitality Best?
Do You Really Know What’s Happening in Your Hotel?
As hotel owners and operators, it is our business to be absolutely fluent with what’s happening in our buildings. Who are our guests, what activities are taking place, what is the condition of the product, etc., are all questions that we deal with every day. While we generally do an excellent job of staying on top of all of this detail, there are occasions where we may be caught by surprise. How well do you know what’s happening?
How Much Time Do You Spend Understanding Customer Feedback?
As has often been stated, “information is power,” and the information that is available to us today in the hospitality industry is no exception. The information that we have access to relative to how our customers view us is readily available, highly visible, and unfortunately, woefully under-appreciated.
Do You Know What Your Salespeople Want From You?
Recently, HSMAI (Hotel Sales & Marketing Association International) conducted an informal survey of its membership to better understand how property leadership and property sales teams communicate with one another. While the results were not necessarily surprising, they were overwhelmingly consistent. Salespeople want more information from property leadership and from ownership, and this can be easily addressed.
Does Your Hotel Have a Mission Statement?
Lead From the Front!
So much conversation is held in all industries about the importance of leadership. Just think about the various terms used as descriptors when we talk about leaders: powerful, dynamic, passionate, come to mind when we are thinking positively. Weak, indecisive, incompetent come to mind when we are thinking less positively. The common denominator, however, is the fact that the leadership skills are crucial to the success of any business.
Which Brand or Management Company Is Right For You?
Many owners have learned over the years that operating hotels successfully is far more complicated than they may have originally thought. This can sometimes be a painful and costly lesson, as such dynamics as market performance, dependence on demand generators, and cutthroat competition can all lead to challenges in achieving pre-opening or pre-acquisition pro formas. For owners and prospective owners, it is crucial that there is a deep understanding not only of what has been promised in terms of performance, but the reality of such promises. Before getting too far down the road of acquisition or new construction, owners and investors need to be able to “peel back the onion” to get far deeper into the detail of what is being projected for their asset, what is the reality of such projections, and who is best equipped to deliver those projections.
Disruption in Your House . . .
‘Disruption’ is everywhere in the hospitality world. This does not mean that disruption is taking place everywhere in the hospitality world, but it does mean that there is talk of disruption on a daily basis. There are the major players in disruption, and we all have an idea of who these are. But there is often a disconnect between the true ‘disruption’ that is taking place at the highest levels of our industry and the opportunity for ‘disruption’ that exists in many of our individual properties. How certain are you that your property leadership team(s) understand the concept of disruption, and are capable of injecting disruptive thought and strategy into your assets?