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Hotel Investment Conference Asia Pacific
The Ancient Rituals of the Orient session is the perfect way to relax after the annual Hotel Investment Conference Asia Pacific
By: Mary Gostelow
The 90-minute Ancient Rituals of the Orient program at the InterContinental Hong Kong's spa culiminates in a chakra-balancing Shirodhara, with oriental head massage.
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This entire treatment, at the InterContinental Hong Kong, starts, as a soothing oriental odyssey, with a Thai foot ceremony. This is followed by a cleansing Japanese green tea and ginger body scrub. Chinese acupressure therapy, with a contemporary hot stone massage, then realigns the body’s energy, rebalancing from within. You conclude the ritual with the Ayurvedic finale.
The Ancient Rituals of the Orient session was the ideal way to relax after the annual Hotel Investment Conference Asia Pacific, HICAP, which took place at the InterContinental Hong Kong, October 15-17, 2008. What will be the current world economic crisis on the luxury travel and hospitality industry? Alex Kyriakidis, Deloitte's Managing Partner Hospitality & Leisure, says Asia-Pacific comes out as a winner worldwide but growth in hotel revenue in the Asia-Pacific region, which was at 18 percent in 2007, will probably be single digit in 2008. Right now there are some additional 500,000 new hotel rooms in the development pipeline, 40 percent of which are in China, and up to 18 percent of these may be delayed.
Alex Kyriakidis moderated a powerful panel of top hoteliers. On the stage were, in alphabetical order, Andy Cosslett, CEO of Intercontinental Hotels Group; Ed Fuller, President/MD Marriott International Lodging; Gerald Lawless, Executive Chairman Jumeirah Group; Frits van Paasschen, President/CEO Starwood Hotels & Resorts Worldwide.
Andy Cosslett said that because Asia-Pacific has been through such tough times in 1997 it is not panicking as the USA is. But what is going to happen is the effect of Western market consumer confidence slipping. Looking ahead, he foresees more thoughtful customers, demanding value rather than price. There could well be a number of opportunities for hotel companies to flip from real estate (apartments) to hotels. A major challenge is that in Asia-Pacific alone, Intercontinental Hotels Group will need 125,000 additional employees in the next four years. For the last 20 years the industry has stolen from each other and everyone needs to do things to make this industry more exciting and attractive - this is every company's biggest strategic issue. IHG now has 24 training academies in China, which will produce 5,500 graduates a year.
Ed Fuller said that 'brands' are more likely to be winners in challenging economic times. They have experience in judging what to do in a crisis. Marriott, for instance, is focusing right now on ensuring its
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marketshare and it is looking at each market differently rather than assessing one global picture. Meanwhile, of course, the company is still expanding. It will be opening another 25 hotels in China by the end of 2009 - though there is normally a one-year lag on any openings there. Looking longterm, he thinks the main demand will be more local and regional than international. Marriott now has 21 different brands, three of which he considers luxury (in alphabetical order, Bulgari, JW Marriott and Ritz-Carlton). But it still feels it needs an addition. Edition, the forthcoming joint venture with Ian Schrager, will be the brand leader in its sector, says Fuller, and already five developments have been signed. Edition hotels will each have about 200 rooms, without obvious facilities for big meetings. Looking ahead, Ed Fuller says there will be even more new travelers coming from China and east Europe and these will require changes in what the hotel industry offers. Marriott has already been concentrating on actually observing its new customers, as a result of which some lobbies have been replaced by residential-type 'great rooms'.
Frits van Paasschen said it is essential to focus on innovation in difficult times. Integration of innovation and operations is, indeed, crucial to success. Everyone needs to keep their nerve. Those who keep focussed will benefit - but at the same time it is essential to look at expenses. Starwood needs to be yet more focussed on the guest experience. Starwood has a portfolio of distinctive brands, says van Paasschen, and its forthcoming Aloft will have fabulous check-in and fabulous check-out and guests will want to come back again and again: the first Aloft in Asia-Pacific opens in Beijing soon.
Hotel Investment Conference Asia Pacific, HICAP, was organized by Burba Hotel Network BHN and Horwath HTL and there were 775 delegates. The event opened with a splendid welcome cocktail and reception in the ballroom of InterContinental Hong Kong, hosted by IHG CEO Andy Cosslett and the hotel's charismatic GM, Jean-Jacques Reibel, and - delegates to the 2009 conference, please note - much subsequent networking during the conference took place in the luxury hotel's spacious mezzanine-level Club Lounge, www.hongkong-ic.intercontinental.com.
InterContinental Hong Kong, Hong Kong, S.A.R., China
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