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Executive Watch

'Hospitality the current darling sector.'

By Anthony J. LoPinto | Updated on June 13, 2006
Perspective

Had trouble booking a hotel lately?  There is a real shortage in all categories.  This positive outlook has made hospitality the current darling sector.  Last week the NYU Hospitality Conference broke all attendance records, and the mood was electric.  The pick-up in business travel and the explosive rebound of tourism have spurred demand for the development of thousands of new hotel rooms, resulting in the need for new talent–from operations and development people to portfolio managers–as the pie gets bigger.  However, something entirely new has emerged in this cycle.  Some of the best branding and marketing talent from outside of the industry is being recruited into the hospitality sector, to insure that you not only have a nice night’s sleep, but that you also have an unforgettable “experience.”  This is a shift from the traditional room-and-amenities advertising to a new subliminal, experiential marketing approach.  This interesting and apparently effective strategy evokes an indelible memory of your stay, soothing and calming you, as you experience hefty room rates at checkout.

Anthony J. LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders

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