economy
Loyalty Programs Should Help Soften Impact of Any Economic Downturn on Hotel Sector
CBRE Hotels | April 11, 2023
A record number of loyalty program members should help hotel brands lower their customer acquisition costs, increase direct-to-consumer engagement and offset any occupancy shortfalls during an economic downturn. Direct access to a base of loyal customers is a benefit to owning and operating a branded hotel. Loyalty members can help drive occupancy during off-peak periods or weaker economic conditions. Loyalty members redeemed a record number of points in 2022 that were earned and saved during the pandemic. Publicly available loyalty program metrics of five major U.S. hotel brands suggest that it may take may take more points than in the...
Has Legacy Hotel Technology Reached a Tipping Point of No Return?
Aaron Shepherd | February 8, 2023
By Aaron Shepherd “A tipping point is a point at which small changes become significant enough to cause a larger, more critical change that can be abrupt, irreversible, and lead to cascading effects.” Over the last month, headlines have been awash with news of a reckoning spreading across Silicon Valley’s big tech darlings; lay-offs are happening at an admittedly blistering pace as companies like Microsoft, Google, and Amazon brace for an economic downturn. The numbers, if you’ve seen them, are rather staggering. Meta, Alphabet, Amazon, and Microsoft have collectively cut 50,000 jobs, while Elon Musk is said to have fired half o...
2021: It’s All About the Economy
JLL | December 17, 2020
Recent developments are providing markets with optimism, although the next six months are key for real estate When the pandemic sent global economies into decline, it clinched the end to a decade-long bull run in commercial real estate markets. But economists and investors appear largely optimistic about a recovery in 2021. While such a disposition might have seemed far-fetched during the first lockdowns in the spring of 2020, the confidence is coming from a faster pace of vaccine development than some first believed possible, alongside government stimulus efforts and record-low interest rates at central banks. Still, uncertainty rem...
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