WASHINGTON, D.C. According to panelists at the Cornell University Hospitality Industry Strategy Conference here, the future of branding looks bright.
At a panel entitled Managing Tomorrow: A Strategic Outlook, which included speakers Chase Burritt, Ernst & Young; Mike French, PricewaterhouseCoopers; Michael Kay, LSG Sky Chefs; Scott Melby, Marriott International; and Sam Winterbottom, Starwood Hotels and Resorts, most agreed that brands are critical to future success.
“In 2001, where we are expecting a soft year, the world of brands is even more important, because of the consistency of product and the consumer confidence they represent,” said French.
According to Melby, there is still some breathing room in the luxury tier. The new Bulgari brand, which Marriott recently announced, is a result of taking advantage of the opportunities in that market segment.
The panel, which was moderated by Eric Danziger, Carlson Hotels Worldwide, and Tom Cullen, Cornell Hotel School, also emphasized that today s brands are serving multiple generations and that it is important to understand who their consumers are. (3/22/01) Shannon McMullen