4 Industry Trends You’re Sure to See at Hotel Data Conference 2016
As we prepare for Hotel Data Conference (HDC) 2016, we’ve uncovered four high-level industry trends we expect to cover at the conference in September. While there are a number of sub-plots and directions comprising those trends, following are the big umbrella topics:
Trend #1: Consolidation of Hotel Brands
Consolidation will be a big topic at HDC 2016. We saw it with the mergers of Destination Hotels and Commune Hotels, AccorHotels and FRHI Holdings and most recently with the pending Marriott International and Starwood Hotels & Resorts Worldwide deal. Industry consolidation impacts independent hotels and hotel chains at every level of their operations, from distribution strategy to day-to-day business plans. If you’re not sure how consolidation will affect you, don’t miss this panel at HDC 2016.
Consolidation also affects one of our most popular topics: the pros and cons of independence. Is it better to be branded, independent or a hybrid of the two? It’s an often-debated subject that we expect to stay relevant at HDC 2016 and beyond.
Trend #2: The Sharing Economy
Sharing economy accommodations like AirBnB, HomeAway and VRBO have been the single biggest challenge for the hotel industry in recent years. Expect to hear updates at HDC 2016 about regulatory oversight for these alternative accommodations and their impact on the industry as a whole. We know guests’ preferences will play a big part of the conversation as we talk about how hotels can coexist with these new players.
Trend #3: Innovative Revenue Management Techniques
Budgets are always a hot topic at HDC, and this year we expect the conversation to focus on managing a tight budget and dealing with an unpredictable economy. We look forward to hearing ideas on how to get the most bang for your buck, where to take shortcuts, how to use technology to help your bottom line and why accurate forecasting is essential for the budgeting process.
We’ll also talk a lot about revenue management during a downturn. We’ll revisit lessons learned from previous downturns and cover strategies to keep future top-line revenue expectations in check.
Trend #4: Technology, Technology, Technology
Technology plays a leading role in most parts of almost every industry, and hotels are no exception. Technology affects everything from finding additional ancillary income to examining customer analytics. Whether you what to optimize room service operations or social media marketing, you’ll see technology as a consistent thread throughout HDC 2016.