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The combination of a housing crisis, credit crunch and high commodity prices are leaving fewer discretionary dollars for travel. Businesses are slashing their travel budgets, and more cash-starved Americans are reluctantly settling for “staycations” — foregoing excursions to Paris and Mount Rushmore in favor of backyard barbeques. Hospitality companies are going to have to make some fundamental changes if they want to adjust in this new business environment.

Highlights:

• Marketing and sales might not have gotten the attention they deserved in the past. Now that hospitality companies are trying to cut costs, why should they begin to take a much closer look at these functions?
• How can hospitality companies take advantage of new marketing channels such as mobile phones, social networks, blogs and video and audio podcasts?
• What does the hospitality industry need to do to adapt to more frugal corporate travel budgets and still make a profit?
• Brand loyalty is essential to a company’s health. Which kinds of brand loyalty programs are likely to be more effective so that they contribute to more customers staying in hotel rooms for more nights?

Guests: 
Ira Kalish, director, Consumer Business, Deloitte Research, Deloitte Services LP
Scott Rosenberger, principal, Tourism, Hospitality and Leisure, Deloitte Consulting LLP

Related Content: 
White Paper: Weathering the Economic Storm — How Hospitality Companies Can Thrive in Challenging Times 
Overview: Tourism, Hospitality & Leisure  

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