I am honored to serve as your 2024 CHOC secretary, and I want to assure you that I am fully committed to representing your interests and ensuring that your voice is heard. I am extremely proud to have the opportunity to work with this year’s CHOC national board, a team with a wealth of knowledge and experience within the hotel industry. I have enjoyed serving with them and most of all learning from them.
As fall approaches, it is crucial to take advantage of business opportunities. Since this is a national election year, the economy may be somewhat unpredictable, so it is essential that we maximize our revenues as much as possible. We should not miss out on any opportunities to capture each opportunity that comes our way.
Don’t chase occupancy as many of us have done in the past. I believe that if we were to chase ADR and get our rates up as much as possible, even though our occupancy may be lower, our revenues would be better. We can maximize savings through less wear and tear on our properties, saving costs in supplies and payroll. Lower rates may feel like the safest strategy, but they can cost money.
The hotel industry is currently dealing with some big challenges. These include a shrinking employee base, changes in the workforce, economic conditions, or shifts in what employees want. Also, there's an increase in operational and employment costs, because of things like inflation, regulatory changes, or rising labor expenses. Then, there's more competition from other brands, whether they're big players expanding what they offer or new companies bringing fresh ideas to the market. All these things make for a tough and complicated environment for hotels, so they need to come up with smart and creative ways to stay competitive.
In the coming months, CHOC will be hosting our Fall Regional meetings in various locations across the country. These meetings aim to enhance your knowledge of the hotel industry by providing learning opportunities that can help you improve ADR and occupancy rates, as well as offering high-quality training for you and your staff. Attending the fall regionals will also allow you to connect with CHOC national leaders, providing a great opportunity for operators and staff to network with their peers. We encourage you to plan to attend and to send as many of your staff as possible, as the training and knowledge opportunities will be exceptional.
So please make a note of your region's meeting dates.
And register now: ChoiceOwnersEvent
I hope to see you soon!
