STR conference to analyze data inside and out
"In this kind of economic environment, it’s especially important to understand what the data is telling you," Lomanno said. "In a down market, you really need to understand where there are pockets of strength."
The inaugural Hotel Data Conference, presented by Magnuson Hotels, will be held 4-5 August 2009 at the Renaissance Nashville Hotel. Registration is US$695. General sessions include:
- "U.S. Hotel Industry Overview" by Lomanno;
- "Market Trends Affecting the Hotel Industry," which is scheduled to feature Brian Ferguson, Vice President - Lodging Demand & Analysis, Expedia; Webster O'Brien, Vice President, and Gary Portuesi, Vice President - Lodging Account Development, American Express Establishment Services; and
- "U.S. Hotel Industry Outlook," which will feature Lomanno; Mark Woodworth, President, PKF Hospitality Research; and Scott Berman, Principal, PricewaterhouseCoopers. This session will focus on forecasts for the remainder of 2009 and beyond.
Topics for breakout sessions include: Global Hotel Performance; Consumer Leisure and Business Travel Trends; STR Chain Scale and Segment Trends; Top 25 U.S. Market Performances; Hotel Pipeline and Development Trends; Hotel Operating Statistics; Hotel Industry Demand Drivers and Economic Industry Cycles; and Best Practices in STR Data Usage.
Lomanno said the event is geared toward operators, analysts, owners, developers and anyone who touches revenue-management procedures.
"In this economy, every hotel seems to react equally to what every other hotel is doing," Lomanno said. "A better understanding of the data and how it affects each hotel is important to maximize the opportunities that do exist. This is about how to make numbers your friend. There are things to learn and ways you can react."
The conference will allow attendees to look inside market trends that can help them focus on driving revenue, according to Lomanno.
"Sometimes during a severe downturn, people are so focused on their own property that they don’t see the larger picture and how they can utilize current trends to their benefit," Lomanno said. "Because of that, they can miss how those trends are affecting and formulating larger trends that affect the future."