H : Again , coming out of COVID , how is the TMC Hospitality platform pivoting ? PB : I do not think we are making any major pivots , but are making a lot of minor refinements . We have been able to adjust our property organization charts to be slightly leaner and more guest focused . We also were about to double-down on our growth team and we are anticipating a lot of growth over the next five years . Lastly , we enhanced our brand messaging and technology offering to better cater to social groups during COVID .
H : What were the biggest learns through the past 18 months ? PB : Haha , it feels too soon to be entirely clear on how to answer to this , but I would say a few lessons are :
Stay nimble yet focused . What I mean is that we have to stay flexible and responsive to the market to capitalize on opportunities , yet at the same time be the best in class at what we do . During COVID , we doubled down on all things social groups and that is really starting to pay off for us . That often meant that we had to say ‘ no ’ to opportunities that seemed promising at the time but were a divergence from our core offering .
Double down on your team . Our team is what enabled us to survive COVID . We have great people and they really showed up when things were most challenging . Everything we have invested in our team has paid dividends and I hope we get better at it in the coming years .
Partner with like-minded people . We weathered very challenging times rather well and that is largely because we have great partners . Great partners are most important in the challenging times , and I am proud that we made it through COVID without losing a deal and with our partner relationships even stronger than before .
H : What is the way forward ? PB : In the near term , we are cautiously optimistic and are staying nimble as opportunities that fit our model arise . We give a lot of thought as to how travel will change post-COVID and hope to position ourselves well for it .
H : What are the biggest opportunities ? PB : Social group hotels in drive-to leisure markets .
H : What are your biggest challenges ? PB : Seller pricing expectations along with general market uncertainty .
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