Whether you are an owner, industry executive, general manager or aspiring industry leader, 2017 is going to be a very solid year as we have forecasted. We have also covered the Top 10 Trends of the year to help us stay ahead of the game. But one of the additional keys to success is team member satisfaction. Without a satisfied hotel staff, we have no foundation upon which to build.
This year’s ALIS Conference in Los Angeles was very interesting because nobody knew going in whether or not it would be upbeat. The elections were contentious to say the least and there are still some hard feelings around the country but at ALIS it was all business. STR came out with their 2017 forecast, Hilton added Tapestry, Marriott set up an “innovation lab” and Kalibri Labs announced insightful findings about how much share the OTAs take from the pie.
Just 10 years ago, Facebook morphed into a mainstream business tool, Twitter arrived, the iPhone exploded on the scene and Android phones were born. Today, the pace of change has accelerated dramatically. In his new book, Thank You for Being Late, Thomas Friedman explores this very age of acceleration. Our trends this year do not include every trend, just what we believe are the Top 10. Certainly we could add the Internet of Things (IoT) but we cover some of that in our technology trends below.
According to Geoffrey Moore in his book Living on the Fault Line: Managing for Shareholder Value in the Age of the Internet, stock price is a measure of future potential based on present competitive advantage. Competitive advantage consists of two components, GAP and CAP. The first, GAP, is the distance between your hotel offerings and your nearest competitors or the competitive advantage gap. The second is CAP, the competitive advantage period…