Craig Karmin
speaker
99 appearances
1 recordings
1 series
first heard Aug 2021
last heard Aug 2021
Craig Karmin’s voice in public audio — every appearance, attributed to the second.
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Yeah, I think the owners are watching very closely.
Just to step back for a minute, the way most hotels operate these days is you have a hotel owner, which could be a big investment firm.
You have a hotel brand like a Marriott or a Hilton or one of their brands.
And then you have a management group.
And the management group could be a third party or could also be the hotel owner, could be managed by a Hilton or a Marriott.
So the hotel owners themselves, I think, are watching this closely and like the idea of this succeeding.
They see this as a way to boost revenue.
The big brands themselves, however, have been pretty cool to the idea so far.
And I think a lot of that is because they're sort of like, well, you know, if someone else tries this first, I'm going to market my brand against my competitors saying, hey, you got to pay for the pool and the gym there.
Mine, swim all the laps you want, work out all day if you want.
It's absolutely free.
So I think there is a little bit of I'm not going to go first on this.
However, I think if you see a couple of the brands go in, you would probably see the other ones eventually followed.
I think it is.
And I think that's one reason why you're seeing it getting a more receptive audience among the owners than it might have been before.
Say in 2019, when the hotel industry had a very strong year, when revenue was right around its record high.
But as you know, in 2020 was one of the worst years for hotels in the history of lodging that we've been keeping track of.
And right when 2021 looked like things were getting better again and leisure travel was coming back much stronger than anticipated, this new Delta variant is cooling things off again.
Add to that the labor shortage you mentioned.
They're having a hard time finding people to deliver room service, to do housekeeping, to man the restaurants and bars, which is making it harder for them to do business and sometimes getting nasty reviews on online message boards.
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