Choice Hotels International CEO and President, Stephen P. Joyce, Shares Global Perspective of the Hospitality Industry
SILVER SPRING, Md., March 14, 2013?– Today Stephen P. Joyce, President and CEO of Choice Hotels International, Inc., (NYSE: CHH), gave an insightful keynote speech at this year’s MIPIM conference in Cannes, France, the world’s leading property market conference that brings together all the key players in the real estate business — investors, developers, end-users, architects, hotel groups, public authorities and property associations.
In the keynote speech, Joyce highlighted how these days, maintaining competitive success in the hotel business has become increasingly complex. Hotel teams have to continually scan the environment, recognizing changes in the economy, markets and society, and then accurately forecast how those changes will impact the industry and its guests.
[quote]Addressing the global audience, Joyce spoke on the importance of technology in today’s society and hospitality industry. “I’ve been in the hotel industry for 30 years?..and lately, I’ve come to understand I’m not just in the hotel business, I’m in the technology business. And that’s pretty exciting,” said Joyce. He also went on to say, “Success in the hotel business requires knowing your customers. It demands a ubiquitous Internet and mobile presence, easy electronic booking, robust loyalty programs and a focus on meeting the increasingly universal demand for value.”[/quote]
While the economic impact has affected all markets and industries, Joyce noted the travel industry has been extremely effective in contributing billions to countries’ gross domestic product. Development in real estate and hotels has slowly started to gain momentum again, with hotel franchising attracting new players and individuals who want to own something for themselves.
Joyce stated that the key market Choice is focused on is Europe, noting that Europe is a market that is ready to be branded, is full of opportunities to support independent hotels, and is where Choice Hotels is aggressively focusing its international expansion.
[quote]”For Choice Hotels, we see a big opportunity in Europe, with the fragmented European hotel landscape consolidating,” Joyce said, “European hotels have historically been unbranded. That trend is changing. Competing in e-commerce, social media, loyalty rewards, and broader distribution to drive traffic to your hotel is expensive and labor intensive. Affiliating with a brand company allows operators to focus on the day-to-day challenges of running a hotel while capitalizing on the many benefits afforded by a recognizable brand and robust distribution platform.”[/quote]
[box type=”tick”]About Choice Hotels
Choice Hotels International, Inc. franchises approximately 6,200 hotels, representing more than 499,000 rooms, in the United States and more than 30 other countries and territories. As of December 31, 2012, 394 hotels, representing more than 31,000 rooms, were under construction, awaiting conversion or approved for development in the United States. Additionally, 88 hotels, representing approximately 7,800 rooms, were under construction, awaiting conversion or approved for development in more than 20 other countries and territories. The company’s Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands, as well at its Ascend Hotel Collection membership program, serve guests worldwide.[/box]