Starting my week thinking about how great Hotel Data Conference (HDC) was last week! I can't wait to get access to the slides they share, as there was a ton of valuable information discussed and it really lent to some incredible conversations about the hospitality industry. I always appreciate Thynk.Cloud sending us on their behalf!
Trends & Takeaways:
- Total RevPAR is vital to be looking at and ancillary revenue --- 'Business travel is up for Sage Hospitality Group midweek, and their focus on TRevPAR and ancillary spend, including restaurants, is what's making them successful' - Daniel del Olmo (opening panel; paraphrased)
- Group ADR and business travel are carrying RevPAR and demand, while leisure is showing price and booking sensitivity - it's so important to ensure your sales teams have what they need to get creative and keep that business coming through your doors
- Travel demand is still high; Lifestyle hotels have seen a 45% premium and can help improve profits through activating the property's offerings and ancillary spend avenues --- 'Take the time to understand what experiences leisure travelers are seeking and paying for when they don't stay at a hotel and have the resources to market to them' ~ Jennifer Barnwell (opening panel; paraphrased)
- Top 25 US Markets are the driving force of RevPAR
- Drive Markets within 250 mi from home are still dominating travel
- Female solo travel is up 250% since covid; females are 80% of the decision makers and 60% of corp travel planners - hotels should make a way to show how safe they are and remember BT is solo... - Bashar Wali gave us these stats to consider when it comes to ways to capitalize and pay attention (hope I got these stats relatively correct)
- 'It's not as much about generational marketing, but thinking about cohorts and understanding different common interests across travelers' - was Dorothy Dowling's advice when thinking about smart ways to find your target audiences and market effectively
- Think outside of the box - it's about the traveler envisioning their experience and wanting to share the unique exploration. Bryan Terzi shared that AutoCamp has started to create itineraries for their guests upon arrival and offer immersive experiences like taking a photo class and then being sent out to explore with their new skills while staying with them.
Then HDC is about the connections and fun, as much as it's about the industry conversations. Meredith Gorecki Alysia Bruno Caroline Gates Wendy Norris, CRME, CHDM, Lucy Eason, Brian Bolf, James Harris, CRME, Nick Horgan ★, Elyse Kirby, Jennifer Spradling, Kristi White, Stephanie Matchus, David Millili, Noelani Schroy (and a few others I know I'm forgetting) it was incredible to connect and hang!