During a presentation moderated by HotelNewsNow.com Editorial Director and STR VP Jeff Higley, the heads of various brands expressed pleasure dubai car rental at this year s occupancy levels, suggested they will push for rate increases but didn t foresee a return to profitability in the immediate future.
I think we re going to see continued price increases, Interstate Hotels Resorts CEO Jim Abrahamson dubai car rental said. We never had a brand problem. It s always dubai car rental been (an issue of) supply and the lack of being able to harness price.
Wayne Goldberg, president and CEO of La Quinta Inns Suites, laid partial blame on seasonal promotions and online travel agencies. And Roger Bloss, founder, president and CEO of Vantage Hospitality Group, suggested advertising lures such as offering a $75 Visa card for a two-night Holiday Inn Express stay keeps rates down.
We get on our soapbox and talk about the OTAs and things that are diluting our business, Goldberg said. We do a lot of things dubai car rental that dilute profitability as a brand We need to think more like owners and operators than brands.
Andy Alexander, president of Red Roof Inn, noted the investment the brand has made in renovating approximately dubai car rental 30% of its portfolio is paying off in rate increases up to 41% in those properties. Rate integrity is key, he said.
Despite dubai car rental expressing overall optimism, Best Western International President and CEO David Kong said the second half won t be as robust as the first. But he also noted Best Western dubai car rental s institution of a tiered system in 2011 effectively upgraded the brand overall and gave potential developers incentive to build upscale hotels that command a rate premium of $20 more than midscale hotels.
In a series of slides from STR, the parent company of HotelNewsNow.com, Higley showed that hotels in the Midwest dubai car rental are doing well. Occupancy this year is up in all major cities in the region except Minneapolis; revenue per available room and average daily rate are up region-wide (Indianapolis is a particularly hot market); and supply dubai car rental will be flat for the next 12 months. Downtown Chicago is the best-performing area in the Chicago market, according to STR.
Concord Hospitality s co-founder, president and CEO Mark Laport, noted niche plays can be made in urban markets, and Vantage dubai car rental s Bloss observed that drivable destinations are particularly attractive for hotel development.
Abrahamson said Generation Y and Generation X travelers gravitate toward distinctive urban properties with unusual social spaces and impeccable technology. Such spaces and technology, along with better entertainment offerings, should drive new hotel development, Abrahamson suggested.
Mobile devices will propel the hotel business, too, Goldberg said, noting La Quinta just added an application to its website that allows customers to hold a room for four hours with nothing but their phone number.
For consumers who expect free Internet access and adequate bandwidth no matter the segment, dubai car rental bandwidth of 1.5 MB is insufficient. Bandwidth that flexes according to demand is the ticket, Goldberg said.
TAGS: MLIS 2012 , Midwest Lodging Investors Summit , Laurence Geller , La Quinta Inns & Suites , Interstate Hotels & Resorts , Vantage Hospitality Group , Red Roof Inn , Best Western International , Concord dubai car rental Hospitality
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