By: Brad Plumb, CMP, Senior Sales Manager, Visit Overland Park
The experts gathered along with over 90 Chapter members and guests for Heartland’s annual “State of the Hospitality Industry” program this past November at the Sheraton Overland Park. The meeting was insightful, informative and maybe even a little frightening. After all, who could have predicted the sudden success of Airbnb…or Uber? What is the next big seismic shift to shake the hospitality industry?
- Sherrif Karmat, CFO – PCMA
- Roberta Kravitz, Education Director – ISMRM
- Stuart Lyon-Ruff, VP Events and Education – RIMS
- Tina Wehmeir, CEO – AMC Institute
- Derrick Johnson, Director of Meetings – Council of Insurance Agents & Brokers
The panel held court and kept the audience spellbound and here are just some of the topics that were explored and discussed:
- The current seller’s market in the hospitality industry is predicted to change to a buyer’s market in 2018.
- How do nimble suppliers react?
- Since that time customers purchasing habits have changed, using Google and online reviews as the first point of education and advice.
- Millennials are leading us down a new path of how business is transacted.
- Technology (apps instead of paper at conferences).
- Safety (more security companies on site and crisis plans for venues).
- Mergers (Marriott/Starwood)
The experts are excited and positive about the future of the hospitality industry, but this is no time to sit back and relax. Change is happening fast and the pace of change is happening even faster. Let’s find out just how many of their predictions come true at next year’s state of the industry meeting.