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Cos. must come to terms with hotel expansion cycle: OP-ED: Hyatt Hotels Corp. senior vice president of Sales Ty Helms.

Publication: Business Travel News
Publication Date: 09-OCT-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
The hotel industry, unfortunately, is all too consumed with keeping track of who's got the upper hand when it comes to negotiating group and transient rates for the future. Post-Sept. 11, we often read advice throughout industry journals to buyers to "strike while the iron is hot" and renegotiate all deals for the future because the hotel industry is hurting and looking for any business with a pulse. In today's current economy, the negotiation advice is more geared to limiting year-over-year increases due to the strength of demand outpacing supply.

Might I suggest a compromise? Pay attention to the economic cycles and allow...

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