Hospitality Inndustry Experts At Your Service
The Numbers Don't Lie
Consider the following, all picked up this week in networking conversations:
>> Las Vegas: over 350 major meetings and conventions have cancelled since 11/08
>> ORL: hotels in Orlando will make more money this year in ATTRITION clause – penalty revenues than ever before
>> Island destinations: are behing pre-sell bookings by 30% compared to same time last year
The new phrase I offer for this note is this: the days of Business as Normal, are OVER…and so are the assumptions that supported whatever budget guidelines you use for your property. As of 12/1/08, I was still talking to Corporate execs of major brand hotel companies who were still caught up in finalizing 2009 budgets – which usually are confirmed by Labor Day.
SO - the questions are these:
1) what are your numbers telling you? via trends and comparisons
and
2) what are you doing about them all? unless of course, everything is perfect???
Onward and INNward,
Jim
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