There is No One-Size-Fits-All for Hotels

Staying ahead of guests’ travel demands and expectations is crucial for the competitive lodging industry, panelists said.

DEL MAR, CA—Each hotel in each market is unique, and owners and operators must know who their customer is at each hotel and figure out how to meet their needs, speakers at RAR Hospitality’s 10^th Annual Lodging Industry Forecast here told attendees Friday. The second panel of two, “Evolving Travel Expectations,” tackled factors such as Airbnb and Millennials’ expectations and how hoteliers can develop the strategies necessary to compete in a challenging marketplace.

Moderator Cameron Lamming, partner and chief development officer for RAR, talked about the changing landscape of lodging and asked the panelists how different generations choose between different types of hotels. Paul Sacco, president and chief development officer for TPG Hotels & Resorts, said the big, branded hotel companies have focused on brand experience in their marketing, but the industry is now about creating experiences for travelers. “We are in the infancy stage” of a sea change in the lodging industry. “The big branded companies will look very different in 15 years than they do today.”