HB ON THE SCENE: Lodging Conference Focuses On Pricing Power

PHOENIX—Participants in the opening panel at the 16th Annual Lodging Conference here said managers now have to concentrate on rebuilding the industrys pricing power.

With travel demand returning in most markets, panelists on the opening days View from the Top panel said the opportunity was there to raise rates across the board, allowing owners to improve RevPAR and generate more profit. To a large degree, many of the problems the industry now faces improving pricing power were self-inflicted, specifically the rampant discounting that began in 2008 and continued through 2009, the panel indicated.

As it has for 15 of its 16 years, the Lodging Conference is being held this year at the Arizona Biltmore, which is part of the Waldorf-Astoria Collection.