1998
ART OF THE DEAL
Tand immediate access to social
events and lifestyles , consumers are no longer blind to what they previously had been missing . Fully 78 % of Americans have a social media profile , up threefold since 2008 . Each individual person is now a brand .
Living like a local has become easier and easier through technology . Before we visit a new city we already know the best bars and restaurants , how to experience the various neighborhoods and where best to spend our time .
With constant and immediate access to information , the consumer demographic is becoming more efficient in their decision-making and far more specific in their qualifying criteria . The flight to quality experiences and discernment will continue as consumers grow in their travel literacy and sophistication – this is more than a demographic trend ; it
In 1998 , Starwood Hotels & Resorts outbid Hilton Hotels Corp . for control of ITT Sheraton , a marquee deal that became a harbinger of deals to come such as Fairmont ’ s acquisition of Canadian Pacific , Starwood Capital ’ s deal for Societe du Louvre , Blackstone ’ s acquisition of Hilton , Expedia ’ s deal for TripAdvisor and today Marriott-Starwood and AccorHotels-FRHI . With the proliferation of dealmaking and industry investment conferences , in 1998 HOTELS launched HOTELS ’ Investment Outlook to profile the dealmakers and analyze the big transactions , including the launch issue featuring Saudi Prince Alwaleed , who today remains a prolific hotel owner-investor .
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