NEW YORK, June 5 /PRNewswire/ 2006 NYU Hospitality Industry Conference Survey: Executives Think Positive Hospitality Investment Climate Will Continue; 53% See Upward Trend for at Least Next 2 Years
The hospitality industry is expected to remain strong throughout the next few years. Upper upscale hotels within urban areas will host the highest investment activity in the next year.
The conference survey also notes that “The Power of Connecting and Comfy Beds … high-speed Internet access (22%), broadband wireless Internet access (21%), and upgraded bedding (21%) were winning hotel attributes when traveling for business.”
Yet shouldn’t these attributes be classified as mandatory? The Center for Hospitality Research at Cornell University previously published a report, Understanding Switchers and Stayers in the Lodging Industry, which found that “business travelers were the least satisfied, least loyal, and least involved of the guest segments. Additionally, business travelers were more likely to be dissatisfied switchers than other types of travelers.” The vast majority of hotels now have the above mentioned “winning hotel attributes when traveling for business”. Even if a hotel adds a convenient new guest service such as the American Airlines AAdvance bag check program, others will follow, removing any competitive advantage. The differentiator is going to be the overall brand experience. This principle has given rise to some exciting new products, especially in the select service segment, with Hyatt Place and their warm design and innovative F&B and Starwood aloft hotels’ focus on social gathering and on-the-go lifestyle catering.
NEW YORK, June 5 /PRNewswire/ Hospitality 2010: Four ‘Mega-Trends’ to Shape Future Financial Success, Says Report From Deloitte and NYU
