more . Over these last few years , we ’ ve tested , learned and identified the power of personalization at scale using AI to drive deeper guest and member connection , and we ’ re really at the tip of the iceberg in terms of how data and AI can help us advance that . We ’ ve spent significant time focusing on “ digital storytelling ” that ’ s unique to the property , giving guests a clear , rich and delightful look at our hotels . We ’ re also making it scalable from a technology and design standpoint , optimizing the user experience to be more inclusive , intuitive and delightful at every possible touchpoint . |
Janine Williams
Williams , Impulsify : The majority of the industry is still inexplicably behind in offering a true frictionless hotel stay with integrated , meaningful solutions that enhance the guest experience . If you remove the thousands of transactional interactions that guests wish they had more autonomy over in the guest experience , you open up a world of opportunity for team members to engage in authentic hospitality that a guest truly values .
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Hiblum , Arlo Wynwood : In the long term , demographic shifts and changing consumer preferences will continue to shape the hospitality landscape . As millennials and Gen Z become the dominant traveler demographics , hotels will need to cater to their preferences for unique experiences , authenticity , and social responsibility . Ritcher , Concord : In the near term , we continue to watch interest rate movements , market projections for those movements , pressures on the banks from a regulatory perspective as well as public sentiment perspective , how other CRE sectors will impact those lenders and what other sources of capital are forming for financings relative to refinances and new developments . Fuentes , Hilton : Employees need to feel supported by an inclusive workplace culture . All companies should ensure they are considering candidates ’ entire professional backgrounds . There ’ s more than one way to develop a career and it doesn ’ t always have to be the traditional shot up the corporate ladder or the stereotypical roles you might think of . I started my career working as a structural engineer in New York City but pivoted to a broader career in business . There were many times where I found myself to be the only woman in the room , but that experience , combined with lessons I ’ ve learned from other leaders and mentors , |
have inspired me to make sure that both personally and professionally , I ’ m doing my part to lift others up so they can have a seat at the table . Taylor , The Pensacola Beach Resort : As a hotel owner / operator , I care both about how the hotel functions for guests and associates and what the financials look like . One of the biggest trends impacting our business is rising labor costs and decreasing talent pools . Another related trend is that at some point the typical business model of the average hotel will be unsustainable for many owners . Hoteliers have had little success defending against increasing franchise fees , distribution expenses and technology costs . Patel , Red Roof : Technology plays a role in DE & I by providing expanded access to training , accessibility , and knowledge , and its role in hospitality is something we are paying close attention to . We are also looking for more business owners with hospitality aspirations , and finding ways to elevate them to become hotel owners . Dinger , My Place Hotels : Recruitment and retaining
Sarah Dinger
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talent will continue to be a challenge for the industry , especially with changing labor dynamics and competition from other sectors . Investing in employee training and career advancement opportunities will be crucial . Leveraging data analytics to personalize guest experiences and anticipate their needs will be key for staying competitive . Richard , M & L Hospitality : The hotel asset class remains high on investors ’ lists . The hospitality market has strong fundamentals that allow investors opportunities throughout the life cycles of the assets . The market has shown strong growth and the lessons of the past crises have helped investors and operators be more flexible . With the stabilization of interest rates , we have already seen some interesting transactions , with expectations for this trend to persist into 2024 and beyond and this is an exciting time for us to look at our portfolio and strategize . Burnett , G6 Hospitality : The hospitality industry has been tested in more ways than one over the last several years — leaving franchise owners strained . As we continue to navigate a challenging economic climate , one compounded by pressing labor issues , ensuring owners access to resources and support should be top of mind . I ’ m proud that hospitality is so resilient . I do believe that we can overcome these obstacles , resulting in a diverse , efficient industry for both hoteliers and travelers . |
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54 hotelsmag . com May / June 2024 |