ATLANTA—At the Hunter Hotel Conference here on Thursday, the “Presidents Panel” offered insights from industry leaders about timely issues such as brand proliferation, oil prices and the effect on travel, the increasing impact of OTAs, and the much-talked-about Millennial generation. Panelists included Roger Bloss, founder, president & CEO, Vantage Hospitality Group; David Kong, president & CEO, Best Western International, Inc.; Jim Merkel, president & CEO, Rockbridge; Dave Johnson, president & CEO, Aimbridge Hospitality; and Michael Medzigian, chairman & managing partner, Watermark Capital Partners LLC.
The participants shared their perspectives on what they each felt was the most important takeaway from the panel and, perhaps, the conference. In brief, here’s what they had to say:
• “Right now, rate opportunity is extraordinary. People should take advantage. I’m not too concerned about supply, but I am concerned about brand proliferation and what that will do to supply.”—Medzigian
• “Money is available now. We all need to be disciplined in our businesses so we don’t go down a bad road again.”—Johnson
• “We’re in a really special time in our business, fundamentally. Take advantage of it, remain disciplined, expect the unexpected—and prepare for it.”—Merkel
• “We all want to be more self-sufficient, want to be less reliant. We want to find a defense against the Airbnbs of the world. The best thing we can do is enhance the guest experience of the hotel. That’s something you absolutely control 100%. You own that. No one can touch that. Let’s find a way to improve that experience.”—Kong
• “We see the Millennials getting a great amount of attention. Respect the Millennials but embrace the Baby Boomers. They’ve got the dollars.”—Bloss