I recently returned from an event we organized in Berlin, Germany, called the International Hotel Investment Conference. This is the largest and most prestigious event in the hospitality industry — you won’t find more CEOs of hotel chains in one place anywhere else. The conference gives hotel companies a forum to show off their brands to potential developers and the financial community.
Each year, the buzz seems to focus on a common theme, depending on the state of the industry. With occupancy and room rates at an all-time high, the spotlight was on brands this year. More new brands were introduced, and rebranding of established hotel companies were rolled out in droves.
This made me think about the travel agency industry, which is primarily a small business network of owners and independent travel agents, and look for ways in which it can learn from the hotel industry. Hoteliers spend millions of dollars to understand consumer likes and dislikes, to make sure their brands are current and to maximize revenue growth. All of you are the sales agents of these brands — the revenue generators they need. And this is the evolution that you must follow to keep your and your agency’s brand relevant.
What these hotel companies have segmented into is the antithesis of trying to be all things to all people. A hotel that endeavors to accommodate all types of guests rather than specialize and cater to a specific audience will have the vacancy light on for many a night. (For those younger agents that don’t know what a vacancy light is, e-mail me and I will explain it to you. LOL!) Your future mirrors that hotel brand; you need to get out of the mode of selling all things to all people.
As an agency owner, you should have segment specialists. As an agent, you need to find your specialty and immerse yourself in knowing more than anyone else, certainly more than your clients know, about that specialty. Our Travel Industry Exchange, September 15-17 in Orlando, is being crafted to help you accomplish this specialization. We want to help brand you for the future. We will be certifying you in such disciplines as luxury, cruise, romance and adventure, as well as setting up one to one appointments with suppliers you can partner with. All are welcome. See you in September!