Coming off the heels of an intense election season, this Thanksgiving will be unlike any other. No matter who won your vote or where you stand personally, let’s come together as members of the hotel community and give thanks to all the things that make us happier, more productive and more successful in our jobs and our industry.
We asked hotel marketers what they’re grateful for right now… here’s what they said:
#1: A President Who Understands the Hotel Business
Whether you love or hate him, one thing is certain: President-Elect Donald Trump understands the hotel business. As Katherine Lugar, President and CEO of the American Hotel & Lodging Association noted in her recent email to members after the election: “…President-elect Trump has a unique understanding of the significant contributions that travel and tourism make to the economy and in communities around the country.”
#2: A (Still) Strong and Stable Economy
Despite growing hotel supply and the threat of Airbnb’s success in driving leisure and corporate business, demand and RevPar are still steady. Based on low inflation rates, a solid labor market and stronger consumer spending, STR predicts hotel demand to remain strong throughout 2017. We’re still experiencing an unprecedented period of record results in the hotel industry. And, for that our gratitude is high.
#3: The End of Election-Fueled Uncertainty
For years, the question of future government leadership has been top of mind for businesses across the country. Presidential elections tend to spur a lot of economic uncertainty and 2016 was no exception. According to a September 2016 report by Bankrate, a majority of Americans consideredthe presidential election the biggest threat to the nation’s economic health.
This made many businesses hesitant to spend money on business travel and related expenses. Now that the votes are in and the election is over, industries across the country can start resetting their new normal and planning meetings and events with renewed confidence.
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