Archive for May, 2008
Hospitality Strategies for Current Market Conditions
Vice President and chief strategist David Ralls shared his top strategies for the hospitality industry in a recent article entitled “Keeping Market Share During a Down Economy.” Following is an excerpt:
In the “what do we do now?” Case-scenario, hotels with courage will win market share by focusing on the customer and keeping advertising budgets strong, in fact they may spend more. Eliminate marketing that is not working and be aggressive with value added offers that differentiate your offering from the competition. These efforts will capture the customers that are traveling who have a strong chance of staying with you again in the future when the market improves.