NASHVILLE, Tennessee—Adam Sacks, president of Tourism Economics, kicked off the Hotel Data Conference on Wednesday by saying the past five years have been a “veritable party for this industry.”
That buoyant theme continued throughout Day One of event, where data and statistical analysis suggested the party will continue for the foreseeable future.
Randy Smith, co-founder and chairman of STR, summed up the vibe rather succinctly: “Our best times are still in front of us.”
Photo of the Day
From left: HDC attendees Holly Stevenson, Amy Turner and Magdalena Goss enjoy a lighter moment during lunch on the first day of programming at the Hotel Data Conference. (Photo: Jeff Higley)
Quote of the day
“There’s a lot of people trying to view where the world’s going to be and saying the end is near. I think there are a ton of reasons to feel continually good about our business and where we’re going. And for all those who want it to end, tell them to go to hell.”
—Tom Corcoran of FelCor Lodging Trust on why he’s optimistic.
Slide of the day
Tourism Economics’ Adam Sacks shared information showing that current demand trends have “exceeded what we consider to be norms.”
“If you look at the history the last seven years, we’re seeing different phases of the cycles. There was strong recovery in 2010 and 2011, the catch-up years. But then GDP and room demand move pretty much in step together and that’s been historically the case. But then the last two years, room demand has said, ‘to heck with it’ and has outpaced GDP markedly over this period.”
Our takeaways
After a day of sessions at HDC2015, it’s never been clearer that technology and data go hand in hand. While data is the obvious thread that connects all of the panels and presentations at the seventh annual version of the event, the thorough and liberal mentions of technology were a pleasant surprise. From the opening leadership panel talking about the importance of distribution strategies to White Lodging’s Deno Yiankes saying technology has had an impact on the CapEx process to keynote speakers Michael
Tchong and Ron Swidler taking a serious dip into the innovation pool, the first day of the conference made it crystal clear that the Tech Generation is having an impact on hotels.
—Jeff Higley, Editorial Director
@jeffhigley1
Optimism is truly unbridled. Often we hear a few grumbles about worries, like oversupply or the sharing economy. On Day One of HDC, I don’t recall hearing a single word of warning.
—Stephanie Ricca, Editor at Large
@HNN_Steph
Data, data, data—and I wouldn’t expect anything less. But it’s not just about showing the data, the conference is about how to use it. From refining your comp set to using the data to effectively forecast, the 515 attendees, including many revenue managers, are learning how to best utilize the good times right now.
—Alicia Hoisington, Managing Editor
@HNN_Alicia