HSMAI University kicks off series of market-specific trending webinars with HotelNewsNow.com/STR
Setting Your Market Sights: Los Angeles
Bowers started out the session by setting the stage across the United States. The only place hotels are over performing in 2009 is in supply, and RevPAR has dropped below 2001 levels. Los Angeles sits right in the middle with a RevPAR that has dropped 22.4 percent in the past year. And while the number of rooms under construction in Los Angeles has dropped 28 percent, the planned pipeline is down 32 percent, down 6.4 percentage points from the national average.
Bowers is predicting “meaningful growth” by 2011, and Brennan noted “we have a lot of city convention activity planned for 2011 and 2012, which means creating strong demand needs to be a huge focus for 2010.”
Key points from the session included:
- Get out in your neighborhood and hit your niche markets.
- Clients are asking for lower rates – 10-15 percent lower than 2009; be prepared with ways to raise the rate by a few dollars.
- Many hotels are concentrating on association and SMERF groups and have seen the greatest durability in education, healthcare, government, ethnic and sports groups.
- Adjust operations and services for these new clients.
- As a midscale property, be prepared to compete with four- and five-star hotels for groups that normally couldn’t afford those properties.
- Spectacular site inspections & pre-convention meetings require that your entire team be ready.
- Service is making or breaking meeting planners’ decisions.
This market-specific series is designed to help hospitality professionals gage where their market is today and hear from industry insiders on what key indicators are for the year ahead. This information-packed series is moderated by Jeff Higley, Vice President, Digital Media & Communications, HotelNewsNow.com/STR/STR Global. Upcoming sessions will cover New York (Sept. 22), Orlando (Oct. 6), and Chicago (Oct. 20). An archive version of the Los Angeles session is also available. Visit for more information on these webinars.
Launched in 1996, HSMAI University is the organization’s most comprehensive and ambitious initiative in the realm of education for sales and marketing professionals in the hospitality and travel industry, entailing a wide-ranging schedule of course offerings and learning experiences in public venue, private label and online formats.
HSMAI is a global organization of sales, marketing, and revenue management professionals representing all segments of the hospitality industry. With a strong focus on education, HSMAI leads the way in identifying and communicating trends in the hospitality industry. Operating as a leading voice for both hospitality and for sales, marketing, and revenue management disciplines, HSMAI connects its members with customers. Founded in the United States in 1927, HSMAI is membership organization comprising 5,000 members from 35 countries and chapters worldwide. HSMAI operates regionally around the globe via Regional boards of directors and staff. There are three regions: the Americas, Asia Pacific, and Europe, and a chapter in the Middle East. Each region has geographic chapters and signature programs and services for association members. HSMAI has a Global board which is made up of delegates from each Region.