This article originally appeared on Tambourine.
This Independence Day, hoteliers are not only celebrating a long weekend bustling with holiday travelers, but all the other indicators that prove there are more sunny skies ahead for the industry:
1) A Winning Trifecta: Thriving Group Business, Stable Economy & A Positive Hotel Market
The hotel industrys up cycle has exceeded expectations. Occupancy rose 1.5 percent, driven by an increase in demand of 3.4 percent. ADR increased 2 percent and RevPAR rose by 3.6 percent making May 2017 the 87th month of consecutive RevPAR growth.
Even after two months with a declining pipeline of new rooms, the number of new room construction reached 192,000. This is a small increase (April 2017s count was 189,000) and shows that the pipeline of new construction is flourishing, but at a slower pace.
Most of the new construction focuses on select-service hotels without substantial meeting space, which is a boon for hoteliers overseeing full-service properties who continue to see an uptick in their booking pace as large groups compete to lock in venues.
2) Owners Investment in a Remarkable Product
You can be out-of-this-world creative. You can have the wittiest, most clever and memorable hotel marketing concept. You can even have a generous hotel marketing budget to pay for massive exposure in front of all the right audiences.
Yet, all of that means nothing without a truly differentiated hotel product.
New hotels with bold concepts and fresh guest experiences are springing up in all directions, so hotel owners need to invest in their properties to keep up with modern expectations. Thankfully, more and more hotel owners are realizing that the best hotel marketing investment they can make is in enhancing their property, the experience and the service.
3) The Lowest Summer Gas Prices in Years
The start of summer is not normally a time for low gas prices, since so many people are taking to the road and creating demand. However, with the recent drop in oil costs, travelers are elated to find some of the lowest summer prices at the pumps for the first time in 12 years. In fact, this holiday weekends prices could be the lowest 4th of July gas prices since 2005. According to AAA, gas prices have been falling every day since June 2nd and are expected to keep dropping. Consider us pumped for all the road travelers ahead.
4) Expanding Awareness of Book Direct Benefits
Fueled by affordable digital marketing tools and increasing comfort in deploying them, hotel marketers are feeling more confident and emboldened to push for direct bookings instead of relying on OTAs to fill their rooms.
In April, Hyatt Hotels became the latest brand to offer a discount to guests who book directly from the Hyatt website, following similar programs by Marriott International, Hilton Worldwide and Starwood Hotels & Resorts. These moves by the major chains are heightening public recognition of the benefits of booking direct and are chipping away at the myth that OTAs save money. With the stage set by industry titans and all the advanced marketing tools and metrics available to hoteliers, we expect this momentum to continue to swell.
5) Social Media Evangelists
Hotels now have small, private armies of unpaid marketing staff: guests who Instagram, Snap, Facebook and Tweet while eating breakfast in bed, lounging by the pool, and watching the sunset from their balconies. Each post boosts awareness for your hotel and bolsters your hotels reach all without your staff lifting a finger or spending a dime. And, even after checking out, guests continue to post photo albums and videos of their vacations.
When guests gush about their travels, theyre creating content that is hotel marketing gold. You can even easily discover and collect Instagram photos posted by your guests using a tool like our new Tout.
Tambourine uses technology and creativity to increase revenue for hotels and destinations worldwide. The firm, now in its 33rd year, is located in New York City and Fort Lauderdale. Please visit: www.Tambourine.com
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