Outlook for the Accommodations Industry
Speaker: Cindy Estis Green, Kalibri Labs
The hospitality industry has had record demand in the last few years. However, like air, car and other travel sectors, the growing influence of tech titans like Google, Facebook, and Amazon is changing the landscape. This alters the economics of hotels including the way business is booked and overall cost of customer acquisition. While the new digital marketplace presents challenges, it also presents opportunities for destinations. Tapping data that was not previously available can provide DMOs with a view of lodging opportunities at a market level that can help drive resource allocation. How much is coming through third parties? What is the real split between leisure, business and group? How can the DMO assist to reduce acquisition costs and bring more value to its lodging constituents? Understanding the business mix and dynamic of competitive markets can also help DMOs sell more effectively in both the group and leisure space. National trends on hotel production by market segment, distribution channel and overall profit contribution will be shared.
Important perspective on how hotel performance will be evaluated and how DMOs can leverage more granular market profiles as the lodging marketplace becomes more dominated by online consumer behavior and digital platforms.
Hotel Performance Profile Report
Short-Term Rental Profile Report
Third-Party Intermediary Profile Report