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THE PANDEMIC HAS ALTERED THE WAY WE LIVE AND GIVEN HOTELS A NEW RAISON D ' ÊTRE .
By DAVID EISEN
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The pandemic was an epochal inflection point , working its pernicious tentacles around the collective global throat and squeezing it for two-plus years . It ’ s finally relented , but its impact is indelible — and that includes on the hospitality industry : the way it operates , the way it functions , the way customers engage with it . The change may be immutable , but according to some hospitality folk , speaking at the Bisnow Lodging |
Investment Summit , there is — finally — some reversion to dependability .
“ Things are returning back to the way they were ,” said Michael Blank , a principal at hotel owner and asset manager Woodmont Lodging . “ There are changes in technology , but we are seeing a creep back to the status quo . What sticks and what doesn ’ t .”
Though the pandemic and its attendant consequences were far different from black-swan events of the past , hoteliers
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were far more prepared , thoughtful and intelligent about handling the situation . Revenue management is a stratagem , a mano a mano duel : how much is a customer willing to pay to stay at a hotel ? And , as a hotel , how far up to the edge can it go to not turn the customer off and onto a competitor hotel ?
SMARTER COURSE Revenue per available room , or RevPAR , is the default go-to , sign-of-health metric in the hospitality industry , an
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38 hotelsmag . com June 2023 |