“Busy” would be an understatement when describing the last couple of weeks. First, the Marriott Limited service brands owners’ conference was held in Indianapolis; then, this week the NYU Hospitality Conference. These events are filled with lots of networking, workshops and guest speakers. The mornings start early and the itinerary continues late into the night.

As I sit here reflecting, I find it very interesting that the two conferences had different audiences but very similar messages. The topics below resonated time and time again in the brand workshops and with the world renowned guest speakers at the NYU conference. I have listed some of the main items that stuck in my head and backed them up with a question to spark some thought. These are questions I keep asking myself as I try to apply what was learned:

#1- Gen X & Y- In 2020 70% of our business clientele will be these guys, and we are seeing more and more of them TODAY! How are their wants and needs different from those of the customers we have been serving for as long as we can remember? How do we develop Emotional Linkage with these guests?

#2- Booking Channels are Changing- As the world becomes more technology dependent, the way our guests move through the purchasing decision process is changing. Online travel agencies and review sites like Trip Advisor are playing a large part in this process. What percent of your reservations come from OTA’s? What is your Trip Advisor ranking? But the main question is “What are we going to do about what we learn from these questions?”

#3- Revenue Deterioration- The cost of doing business is rising. This winter, we saw record high oil prices. The price of meat is on the rise, and more. The cost of doing business is growing faster than our revenues. We cannot be a victim to this fact. We must find ways to operate more efficiently and control costs while growing revenue. What can we do?

#4- Brand Superiority- The brands are in a war for market share. The brand products are pilfering each other’s customers to saturate a market and keep out competitor brands. They face issues with inconsistent product quality, price loyalty vs. brand loyalty and decreasing GDS bookings. It is not enough to carry a flag. Everyone is after your piece of the pie – even your own brand! A competitive difference which instills Emotional Linkage and builds loyalty is more important than ever. What is your competitive advantage –  your competitive points of differentiation?

#5- This has always been and will continue to be, a people business- Brands are in a race to have the most competitive product and the competition is fierce. We need to compete on a different level. The different competitive level is moment making guest service and guest interaction. Everyone has a nice bed and flat screen TV but how many properties have that all-star, fun, energetic, stay making team? How many “A” players do you work with and what are you doing to keep “A” Players engaged and passionate about serving our guests?

These topics have been a catalyst for hours of thought and conversation.
The one recurring answer is — “I CAN DO SOMETHING ABOUT IT.” I do not have to be a victim of change. I embrace change. But it is a daily – hourly passion – to keep focusing on conversations with what we are learning and doing. And the biggest point – “WE MUST BEGIN TODAY!” CHANGE IS GOOD!