External Article13 March 2009
STR Global's Chappell: Discounts lead to ‘doubling up on the pain’
Events themselves can certainly create harm, but it’s often the reaction to those events that are the most devastating, said James Chappell, managing director of STR Global during a general session at the International Hotel Investment Forum Tuesday. For a hotel industry mired by the effects of a global economic crisis, that reaction came in the form of discounting. “If you’re trying to do the same kind of discounting and promotions, and that latent demand isn’t there, then all you’re doing is doubling up on the pain,” he told attendees at the InterContinental Berlin.