Apparently, the top performers were more efficient in the marketing of their properties. Remember, these hotels also achieved occupancies and ADRs greater than the overall averages. What brings success to any individual hotel is a wide variety of controllable and uncontrollable factors. Some are internal, while others are external. The lessons to be learned from this analysis is that hotel operators need to challenge conventional wisdom.
Creativity is often the catalyst of success in business.
In the hotel industry, we often rely on tried and true methods of operation. Maybe it is time to be different. To put down the cookie-cutter. Maybe it is time to be more profitable. Patrick Quek is president and CEO of PKF Consulting, an international hospitality consulting firm headquartered in San Francisco.