Bobby Bowers Keynote HSMAI Travel Internet Marketing Strategy Conference

Kathy Barta | 25 April 2008 |

On Monday, April 8, 2008, Bobby Bowers with Smith Travel Research (STR) presented to an enrapt audience as a keynote speaker at the HSMAI’s Travel Internet Marketing Strategy Conference. His topic: “The U.S. Lodging Industry … What’s Next?” Bowers shared some interesting travel statistics and his insight (and foresight) with the attendees. Data specific to your region, as well as global statistics, is available in your STAR Report or by subscribing to their services.

Nationally, leisure travel is down and may continue decreasing due to rising transportation costs. Hotels that cater to the corporate crowd, however, have escaped the downward trend nearly unscathed. Corporate travel has remained steady as businesses continue to be reluctant to pull in the reigns. Luxury travel should also continue to thrive as they have the discretionary funds to offset the rising costs of travel.

International travel is also an area that has the potential to remain vibrant during this period of rising costs. According to Bowers, the international visitor enjoys an economic advantage when visiting the states. In fact, the USA has become a bargain for them! We are already seeing an increase in visits as touring America has become a viable economical alternative. Take advantage of the opportunities Search Engines provide for advertising to the international market.

A slower growth in demand often accompanies a slower economic environment. Supply growth remains high as much of the building was planned before the implications of fuel and travel costs became evident. Supply growth, therefore, is expected to remain healthy, but demand may very well decrease as travelers choose to stay closer to home. This is where dual-use properties may have an advantage. Providing and advertising both long and short term options can give hoteliers an advantage over their competitors with more shortsighted perspectives.

Bowers recommends utilizing analytics to discover hidden opportunities and to focus on the marketing opportunities that are currently working. Analytics can also help predict areas in advertising that may become valuable in the future. Rather than allowing current conditions to force them into a more conservative approach, many attendees agreed this is an excellent time to become more aggressive.

Take a close look at the data you have available. One of the tremendous advantages of online marketing is the ease and detail with which it can be tracked. Bring in an expert if you’re not confident in effectively analyzing the data yourself. Be prepared to make adjustments directly based upon the findings. Be creative in your solutions; reacting quickly and effectively will be imperative in this changing economic time.