9 October 2012
Phoenix rising? Sentiment at the Phoenix conference?
Please forgive the play on words, but given the location of The Lodging Conference and the continuing ascent of lodging industry fundamentals, I was simply unable to restrain myself on the title of today’s post. I am also an ardent student of mythology, so once I looked up “phoenix rising” in Wikipedia, I had to go with the title. My “research” on this subject is at the end of this article.
But the metaphor may be appropriate. Harry Javer and Morris Lasky have done it again. Another great annual event at the Arizona Biltmore, with more than 1,400 attendees, matching the all-time record set in 2007. I have usually found that conference attendance is something of a barometer of the mood in the lodging industry, so this showing bodes well.
What is the take of the lodging industry “think tank” on the state of the industry?
Three times a year, the Lodging Industry Investment Council (“LIIC” pronounced “lick”) gathers leaders of the industry for formal think tank sessions on various topics of importance. The approximately 70 members of LIIC represent approximately $20 billion of hotel properties from all segments and locations. The most recent meeting was held last week in conjunction with The Lodging Conference.
I am privileged to be one of the three co-chairs of the Lodging Industry Investment Council, along with Mike Cahill and Sean Hennessey. Mike is CEO and Founder of Hospitality Real Estate Counselors or HREC based in Denver, Colorado, and Sean is President of Lodging Advisors LLC in New York City.
After a special State of Industry briefing by Vail Brown of Smith Travel Research, and a robust discussion of what the LIIC members are experiencing right now, Mike Cahill provided this summary of his take on the environment.
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