Angela Wu, Director of Revenue Management, W Hotels
Automatically Generated Transcript (may not be 100% accurate)
How very different months of the people they think we've heard from dearer the club friends and made it experience and perspective on this matter is extremely predictable these sell. Very global lashes and very realistic. In Nigeria we went up about big deal and the only extend. Three saving for me back and I'm the having level we're playing in a panel at acts as. And L one of the things that have been an Avant upper management from as tragic prospective ground. You know I DR you know they'll take Altadena come up with one business strategy and buy it you are the hotels interesting area. And site easily end up that the one size fits all solution that doesn't always. For a just more high tax I'm Edward Howell acted to end seventeen room with our financial district locations that few corporate travel midweek. And difficulty with ouija on the cans. We look stupid like sad and likely cross the street front the a serious rejuvenation and over the past back euros at least. Anyone here really. On and so there's one of expectation that this area. And side Kazuo on or about five or six years ago when two people that budget feasibility study is. That sent as the coal mine and sell we built the budget hotels. And in a point five mile radius of my hotel from December 20 point teens. To the end to December 37. The number of rooms in the market has double. Welcome double by the end of the year and so this is an extremist supply growth cheese. And if you look at these DF brown the business improvement district. Just for a lower Manhattan's unlikely to happen now Almon happen and happen about just make immediate area. Than highest growth. Employee. Against new jabs in the area. Is coming from the hotel sector. And you see there would not recommend is growing this night and then easy tax fine yet Mike if you. And so law. Thune Romney is the yen prospective unknown that keeping up yet and it's now area this isn't one macro picture is visibly are near Sidi off eyebrows. And the powerful buyers you're looking at here our number put whole rooms in the market forces answered how we sixty. And then the Orange Line is the and Brad power percentage change rather put up that year. Seem very clearly see and you know that you recessions we've experienced than last twenty years. The venue senior debt the world the zero line and we'll need fifteen. As a for a time near exit he had experienced a rapid decline driven by ER. During a nine reception area and sell this supply had these significant impact I individual hotels and how we're performing. Am and howarth racing. So I'll I will say the biggest thing for me is to set expectations especially hiring one point like our secure there's. It's supply growth. End dominion rose plans you're going to lose rat pack. Avoiding negative. Our and that it could vary depending on your strategy you can choose if you want to save our growth you minor thievery and nanotech put how you'll have more expansive that the won the act. But it's going to be negative sill like you're on is now why everyone her. Our net it's true end. The strategy is higher and how do we grow because that's why you end those strategies have caught the strategy is how do you well as the weeks. And Freddie medically. The biggest thing is protect your price and plastics tapped segmented hedge fund is a little bit. Buyer dot go down the rabbit hole with people that are still coming insult travelling with the here. And identified that segment of the customers and you don't need to just cap it down that's not going to drive incremental market since it. And second week keep harmful. N and keep other directors were no Clark sealed power when he said again with people doing crazy thing than jumping up declare. It's kind of their hysteria and Halle Allen and it only takes one person for a car on the whole group to be effective. By. It's good to know that it's a temporary situation rate the gym and in your city is constantly growing so I don't doubt that one day there's a catch up. You know instances late Sochi Russia and maybe not as much different issue by. I would say it is trying to recover. And it is to grow cells. Disney canning fifty Eisenhower to get that same argument is going to take you know we don't have a right back where we acted as separate from nearly ads and so that's huge. And earn advertising giant have customer retention and satisfaction. The Argus feedback loops and sounds like customer. And the willingness recommend. And now we're about advertising doesn't cost any money. Is extremely ignorant during these trends that Euro going to have. Last flexible lead spanned iron marketing dollars because the allies going to be lower because the business is still down over. And the last thing is just by way just sad day do you think you also need to try aid you can decline about a budget tightening effects. Am I think I'm glad weak Euro every year if you do the same strategy that was successful or previously here I'm actually not going to be successful. And he is something different Ukraine also. Beltway. It's your only chance at that's.