Hotel & Motel Management - March 3, 2008 - (Page 16) 16 Travel Trends IN THE details Traveling will continue Cheaper alternatives sought Discounts will be big draws Marketing plans should shift H&MM March 3, 2008 | HotelMotel.com www.HotelMotel.com/digital_edition Economic slowdown to change travel patterns authored with the Travel Industry Association of America) lend credence to this concern. As revealed by the data (and confirmed by historical demand patterns), the adverse effect of an economic slowdown most likely would be the transformation rather than cancellation of future travel plans, the intended outcome of which for consumers is a reduction in the overall cost of the trip. Stated simply, increasingly value-conscious consumers are likely to “trade down” and seek less expensive alternatives for transportation, lodging, entertainment and recreation. They might also reduce the length of their trips in an effort to save money. Very few, however, are likely to actually cancel their travel plans. Nevertheless, the current economic environment has amplified another consumer sentiment profiled in our 2007 National Travel Monitor, which has grown steadily in recent years (now embraced by about 90 percent of all adults): It’s usually not necessary to pay full price for most goods and services because you can find whatever you want on sale. Perhaps ironically, the fact that consumers embrace this belief now comes as good news because those concerned about their finances remain heartened by the belief their efforts to find a deal on lodging accommodations will be rewarded, assuming they know where and how to find one. The convergence of concern about personal finances and the belief that everything is on sale has significant implications for marketing strategy in the months ahead. Specifically, there is a strong case to be made for more retail messaging that communicates the benefits of specific offers or premiums tied to purchase. There is an equally compelling argument that the prominence of such retail offers should take precedence over messaging that is simply intended to establish and/or modify a brand message devoid of any retail call to action. Some marketing strategists would argue that adopting a short-term retail strategy will tarnish the image of your brand, yet the reality is that today’s savvy consumers understand that the laws of supply and demand affect the pricing of lodging accommodations, and that even the highest of high- Have done during the past six months because of personal financial concerns 29% 16% 12% Taken fewer trips Selected less-expensive hotel accommodations Stayed fewer nights on a trip Source: Ypartnership By Peter C. Yesawich H&MM Columnist R ecent economic headlines have, understandably, raised the anxiety of many hoteliers because of speculation about how a recession (assuming we’re not yet in one) might affect consumer behavior. The results of our most recent travelhorizons survey (co- end properties occasionally adjust prices to reflect the reality of market dynamics. For more information on the results of travelhorizons, visit the Publications section of www.ypartnership.com. hmm@questex.com Peter Yesawich is chairman and c.e.o. of Ypartnership. He can be reached at Peter.Yesawich@ypartnership.com. CIRCLE NO. 104 CIRCLE NO. 110 http://HotelMotel.com http://www.HotelMotel.com/digital_edition http://www.ypartnership.com http://www.ypartnership.com http://www.americasbestfranchising.com http://www.americasbestfranchising.com http://www.communitysouthlending.com http://www.communitysouthlending.com
Table of Contents Feed for the Digital Edition of Hotel & Motel Management - March 3, 2008 Hotel & Motel Management - March 3, 2008 Contents Embassy Suites Refreshes Look, Service F&B Concept Set to Take Off Conference Promises Perspective Letter to the Editor Legally Speaking Guest Column HSMAI Consultant's Corner On Finance Travel Trends Energy Star Update Trends & Stats Transactions Property Management Systems Carpet: Mixed Media Planting Greener Greens Transportation Vacation-Ownership Update Ad/Editorial Index Marketplace Classifieds Checking Out Hotel & Motel Management - March 3, 2008 Hotel & Motel Management - March 3, 2008 - Hotel & Motel Management - March 3, 2008 (Page 1) Hotel & Motel Management - March 3, 2008 - Hotel & Motel Management - March 3, 2008 (Page 2) Hotel & Motel Management - March 3, 2008 - Contents (Page 3) Hotel & Motel Management - March 3, 2008 - Conference Promises (Page 4) Hotel & Motel Management - March 3, 2008 - Conference Promises (Page 5) Hotel & Motel Management - March 3, 2008 - Letter to the Editor (Page 6) Hotel & Motel Management - March 3, 2008 - Letter to the Editor (Page 7) Hotel & Motel Management - March 3, 2008 - Guest Column (Page 8) Hotel & Motel Management - March 3, 2008 - Guest Column (Page 9) Hotel & Motel Management - March 3, 2008 - HSMAI (Page 10) Hotel & Motel Management - March 3, 2008 - HSMAI (Page 11) Hotel & Motel Management - March 3, 2008 - Consultant's Corner (Page 12) Hotel & Motel Management - March 3, 2008 - Consultant's Corner (Page 13) Hotel & Motel Management - March 3, 2008 - On Finance (Page 14) Hotel & Motel Management - March 3, 2008 - On Finance (Page 15) Hotel & Motel Management - March 3, 2008 - Travel Trends (Page 16) Hotel & Motel Management - March 3, 2008 - Travel Trends (Page 17) Hotel & Motel Management - March 3, 2008 - Energy Star Update (Page 18) Hotel & Motel Management - March 3, 2008 - Energy Star Update (Page 19) Hotel & Motel Management - March 3, 2008 - Trends & Stats (Page 20) Hotel & Motel Management - March 3, 2008 - Trends & Stats (Page 21) Hotel & Motel Management - March 3, 2008 - Trends & Stats (Page 22) Hotel & Motel Management - March 3, 2008 - Trends & Stats (Page 23) Hotel & Motel Management - March 3, 2008 - Trends & Stats (Page 24) Hotel & Motel Management - March 3, 2008 - Transactions (Page 25) Hotel & Motel Management - March 3, 2008 - Transactions (Page 26) Hotel & Motel Management - March 3, 2008 - Transactions (Page 27) Hotel & Motel Management - March 3, 2008 - Property Management Systems (Page 28) Hotel & Motel Management - March 3, 2008 - Property Management Systems (Page 29) Hotel & Motel Management - March 3, 2008 - Property Management Systems (Page 30) Hotel & Motel Management - March 3, 2008 - Property Management Systems (Page 31) Hotel & Motel Management - March 3, 2008 - Carpet: Mixed Media (Page 32) Hotel & Motel Management - March 3, 2008 - Carpet: Mixed Media (Page 33) Hotel & Motel Management - March 3, 2008 - Planting Greener Greens (Page 34) Hotel & Motel Management - March 3, 2008 - Planting Greener Greens (Page 35) Hotel & Motel Management - March 3, 2008 - Transportation (Page 36) Hotel & Motel Management - March 3, 2008 - Transportation (Page 37) Hotel & Motel Management - March 3, 2008 - Vacation-Ownership Update (Page 38) Hotel & Motel Management - March 3, 2008 - Vacation-Ownership Update (Page 39) Hotel & Motel Management - March 3, 2008 - Vacation-Ownership Update (Page 40) Hotel & Motel Management - March 3, 2008 - Vacation-Ownership Update (Page 41) Hotel & Motel Management - March 3, 2008 - Vacation-Ownership Update (Page 42) Hotel & Motel Management - March 3, 2008 - Vacation-Ownership Update (Page 43) Hotel & Motel Management - March 3, 2008 - Vacation-Ownership Update (Page 44) Hotel & Motel Management - March 3, 2008 - Vacation-Ownership Update (Page 45) Hotel & Motel Management - March 3, 2008 - Ad/Editorial Index (Page 46) Hotel & Motel Management - March 3, 2008 - Ad/Editorial Index (Page 47) Hotel & Motel Management - March 3, 2008 - Marketplace (Page 48) Hotel & Motel Management - March 3, 2008 - Classifieds (Page 49) Hotel & Motel Management - March 3, 2008 - Classifieds (Page 50) Hotel & Motel Management - March 3, 2008 - Classifieds (Page 51) Hotel & Motel Management - March 3, 2008 - Classifieds (Page 52) Hotel & Motel Management - March 3, 2008 - Classifieds (Page 53) Hotel & Motel Management - March 3, 2008 - Checking Out (Page 54) Hotel & Motel Management - March 3, 2008 - Checking Out (Page 55) Hotel & Motel Management - March 3, 2008 - Checking Out (Page 56)
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