The word is personalization and it can have a profound impact on the products we develop for the next generation of guests.
The Crisis and Inns, Part I apparently hit a raw nerve. We had many thoughtful responses and many thank you emails for our news encouraging ongoing financing opportunities.
In truth, there are two financial worlds that function independently of each other, rarely crossing paths.
Sometimes, the macro news obscures counter trends among niches or segments of the larger picture. It appears we are experiencing that phenomenon in relation to the Bed and Breakfast and Inn business.
The larger hospitality industry is faced with well publicized declines in both Occupancy rate and Average Daily Room rates (ADR). Hotels and resort properties rely heavily on business meetings and business travel. These are soft business expenses which tend to get cut early on in an economic downturn. The natural fall off in activity is complicated by a record number of new rooms coming on line; the expansion planned and commenced a couple of years ago when the economy was perceived to be in excellent condition.
It is a very different story for B&B’s and Inns. Our core business is leisure travelers and for the most part, that business has remained strong…