Atlanta, June 10th, 2013
Good Revenue Management discipline and principles will play a key part of the hotel recovery in the United States in 2013 and 2014 according to Paul Breslin, Principal of Horwath HTL, USA at the 2103 NYU Hotel Investment Conference in New York last week. Horwath HTL, The world’s oldest and largest hospitality consulting network was appearing on a panel at the prestigious NYU’s 35th Annual International Hospitality Investment Conference.
The panel called “Statistics and Prognostications, a data and research update, first half performance, second half outlook from the forecasters and gatherers of industry data. Strategies and expectations“ was moderated by Karen E Rubin, Senior Vice President, Global Development Policy and Feasibility, Starwood Hotels & Resorts Worldwide, Inc. and featured other industry experts from Expedia, STR, New Brand Analytics and TravelClick.
Paul Breslin said, “As the hotel market picks up, it has become clear that there are some opportunities to be exploited. Group business is still weak, with pickup not expected until 2014, and that means extra pressure on maximizing revenues from Corporate and FIT guests. The new reality is that booking lead times are probably never going to return to pre crisis levels and revenue managers need to adjust their strategies accordingly. It’s still possible for pickup in the last two or a so day to push hotels to near 100% occupancy, but the challenge is to hold the rate with that level of uncertainty. In conjunction to this, new supply levels have never been this low and it would be criminal of hotels looked back on this period wishing they had been bolder. ”