The hospitality world is forever changing as is nearly every other business model. Indeed, to think of it any other way would be ludicrous. Oh, if I had been clairvoyant, look at what I could have earned at the stock market since I started writing these columns:

Company                                Price/Share (approximate, average of range)

                                                June 2012                                August 2018

Amazon                                   $215                                                    $1,850

Apple                                       $82                                                      $200

Expedia                                   $42                                                      $130

Hilton*                                      $44                                                      $75

Marriott                                    $38                                                      $120

* 2014

As they say, hindsight is always 20/20. What is most interesting is not our view of history, but rather, where we believe our industry is heading. Will the past six years be an indicator of the next same period? Will the rise of the sharing economy eclipse traditional accommodations providers? Who will be the winners and who less successful?

I remain optimistic. Despite all the political issues facing travel, and even with the challenges hoteliers face, somehow we’re not going the way of horse and buggy manufacturers. There are a lot of good brains out there and I’m confident that we’ll find a way. The following are what I’d like to see us focus on.

1. Take back our customers. In French, it’s called ‘maitre chez nous’, or colloquially, living in our own house. The OTAs are an important part of our distribution system. The only way to effectively compete is to offer the same: why can’t we book air, car rental and excursions on our own websites? The technology exists and the first step is to form partnerships with these sister industries.
2. Meaningful loyalty programs. We need to get our best minds to look at how loyalty can be turbocharged. To many customers, the current perception is that loyalty is only a way to get free, high speed WiFi. Loyalty has to count for something and deepen the personal connection with the brand. I know many will now hide behind GDPR requirements. Make it worthwhile and customers will opt in, gladly sharing a few shallow details in order to attain more bespoke rewards.
3. Room configurations that make sense. The general classifications of queen, king, double, twin and suite, while not outdated, are certainly not tantalizing guests. We can be more inventive, especially if we hope to upsell during the sales process. How often are you fully sold out? Product differentiation within your property, as well as any marketing or sales efforts to help promote these new subcategories, may be the key to both growing occupancy and driving RevPAR.
4. Real guest centricity. Why does the concierge stand behind a counter? And why can’t I access the concierge before my trip and afterwards? We should all be taking voice-activated technology and using it to create a real support system. Moreover, such advanced guest-facing devices are only as good as the back-end components that properly integrate them into the overall technology ecosystem, so ensuring that you have a robust network and a unified CRM are just as important to keep pace with the modern expectation for personalization.
5. Recognize food and beverage is a pivot point. I’ve said it before and I’ll say it again. Everyone eats! Yet, we still silo our business segments to the determent of the F&B department, forcing decisions that imperil quality or creativity as well as the efforts necessary to make guests fully aware of all the great options available just downstairs or in the room. Accountants running your kitchen is a guarantee of mediocrity. Nowadays, the food is emotionally linked with how well perceived your bedrooms are, so if the food isn’t wowing your customers then don’t expect many repeat visitors.
6. Love your community. It can’t be just lip service. Customers are too smart these days and they intrinsically know when your brand has holistically embraced the local spirit. Being authentically local means more than just superficial partnerships; it means making your property the center of activities with the support of the community. Give and you will be rewarded many times over. There is so much that can be done here, and you don’t need an expensive PR department to make it dent. Instead, look to cross-departmental programs that bring together F&B, unique experiences and currently buzzy banner of wellness.
7. Loosen up a bit. Sorry, but we live in an era where we all want to be treated as equals. There is nothing wrong with a general manager who is working the bar poolside to talk to guests. You learn a lot more on the frontline than in the office, so return to your roots as a hotelier and be a people person!