The holiday season is upon us.
For many hotels, regular business tends to drop off this time of year.
Seasonality takes different forms and depends on several factors, including your hotel’s target market and its location.
In this episode, we find out how hoteliers can leverage the traditional retail sales season as well as the consumer-spending mindset to drive business to their properties.
We talk to Stephanie Sparks Smith, founder of Cogwheel Marketing in Seattle, Washington, and Stuart Butler, COO of Fuel Travel in Myrtle Beach, South Carolina.
Resources and Links
Lodging Econometrics has tracked the hotel industry since 1998. Its global database includes new-hotel pipelines as well as renovations and brand conversions. Hotel franchisers once eager to launch new brands are focused on converting existing hotels because it’s a faster way to recover revenue lost to the COVID-19 pandemic than through new construction. In Episode 346, Lodging Leaders explores the increasing number of conversions in the U.S. hotel industry and what owners and operators need to consider before repositioning an asset.
In the first few months of the COVID-19 pandemic in the U.S., financiers anticipated a swell of distressed hotel businesses. Some raised rescue funds to respond to what they thought was a pending crisis. Though there are financial rescues taking place, the level of such activity is far below what industry advisers and fund managers expected. Commercial real estate investors positioned to act in the early days of the pandemic held off and are now just beginning to unleash their cash hoards totaling billions of dollars. Episode 345 of Lodging Leaders podcast explores the state of capital investment in the hotel industry.