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This article will appear in the upcoming issue of Hospitality Upgrade. To receive a copy of the Spring 2009 issue of Hospitality Upgrade please request a subscription at http://www.hospitalityupgrade.com/_subscribe/subscribe.asp or send an e-mail to [email protected]." |
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By Julie-Keyser Squires, APR February 9, 2009 - The mood was reserved but skies were sunny over the 8th annual Americas Lodging Investment Summit (ALIS) in its new home at the Hilton San Diego Bayfront in late January. The 2400 hotel executives, lenders, investors, developers and professional financial advisors who attended this year�s conference were cautiously pessimistic and looking for answers to two questions: �When will the downturn end?� and �What do we do in the meantime?� Mostly gone was last year�s imaginative green track; in its place were pounding discussions, breakout events and ALIS TV panels focused on falling asset prices, the lack of debt financing, rationalization of air routes, decline in travel, pressure to reduce costs by trimming staff, rates and RevPAR. New on the scene was a Human Resource Time Bomb session highlighting the fact that between now and 2015, the population of people 65-years and older will increase 26%, while the 24- to 39-year-old workforce will grow just 5%. �When will the downturn end?� At the centerpiece Hotel Leaders Outlook session, six panelists � representing nearly two million rooms in over 100 countries - agreed that:
�2009 will be a tough year. There will be a recession for Q1�09, or all of 2009.�
Additional takeaways from ALIS include a mandate that the shrinking availability of debt financing demands a corresponding expansion in leadership that can steer teams toward innovative solutions which add value to guests, owner groups and other stakeholders. Leadership + Strategies: �If you can be seen to be investing in your brand right now, you will be rewarded.� �Leadership sets a vision of beauty and excellence, then executes great selection. It says �Here is who we are, join us in our dream.� � Horst Schulze, Former President and COO, Charter Member, The Ritz-Carlton Hotel Company and President & CEO, The West Paces Hotel Group. Note: Mr. Schulze was awarded the ALIS 2009 Lifetime Achievement Award.Innovation + Value: Deliver the Customer Experience Innovating around value was a strong theme at ALIS 2009. Hilton set the tone Monday morning with the announcement of its �hip and humble� extended stay offering Home2 Suites by Hilton�. The new brand targets young millennial business travelers that book10 or more stay nights. The new brand provides an Oasis community area off the lobby, outside spaces, an exercise perimeter path around the property and a green theme including 70% recycled tile carpet and water savers in the bathrooms. The journey through 2009 will demand strong leadership and an attitude of business confidence. �When trouble comes, you have to stand together,� said Andy Cosslett, Chief Executive, InterContinental Hotels Group. �The big systems have to turn on their taps and rebalance. This sends a great signal of hope and a future. Show great leadership.� The rewards of maintaining that commitment could be a fast rebound when
recovery comes. Said Frits van Paasschen, President & CEO, Starwood
Hotels & Resorts Worldwide, �Today�s cancelled vacation and business
meeting is tomorrow�s pent up demand.�
Julie Keyser-Squires, APR is Vice President with Softscribe Inc. Visit her on twitter @Juliesquires; comment on her First Light business blog http://blog.softscribeinc.com/ or give a shout on her new social media site: www.marketingsnacks.com. |
Managing Editor Hospitality Upgrade magazine and the Hospitality Upgrade.com website http://www.hospitalityupgrade.com/ [email protected] |
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