November 25, 2014
As we enter into the Holiday season, we wanted to look back over the past year, to think of all of the things we are thankful for that help us successfully market hotels. Here are our top 5:
1. The Good Economy: The economy is continually improving, which means business travel is back and consumer/leisure travel is steadily increasing. As economic growth continues here in the US and abroad we will see ADR growth increase. Moreover, STR predicts that in 2015 we will see the highest hotel occupancy rates in years.
2. The Mobile Explosion: 2014 was the year of mobile adoption. According to the 2014 Expedia Mobile Index more than 78% of business travelers have used a smartphone in some travel-planning capacity. With consumers increased use of smartphones, hotel markets have been able to successfully streamline bookings (with fewer clicks to book), provide faster check-ins, communicate in-stay offers, and overall enhance the guest experience.
3. Ambassadors and Evangelical Customers: Evangelical customers are those who spread their love of hotel properties via social media and word of mouth. These repeat visitors have the ability to influence perception, opinions and behavior through tweeting, posting, sharing and sending photos of their favorite places to friends and relatives; all with no cost to the hotels marketing budget.
4. Digital Intelligence: Websites are smarter, ROI tracking is better, we can personalize emails and offers and have a massive amount of data at our finger tips. These insights are a gold mine for marketers and have allowed for better content and communications.
5. TripAdvisor: Consumers have become savvy to most marketing techniques and no longer believe what companies tell them. Now they only truly listen to each other, which is why TripAdvisor has been so successful. This unbiased portal helps consumers validate hotels, while still allowing hotel marketers to direct relevant consumers straight to the property website. While negative reviews can hurt a property, those that are handled properly can also demonstrate honesty and authenticity.
August 22, 2014
Richfield Hospitality Ranks No. 2177 on the 2014 Inc. 500|5000 With Three-Year Sales Growth of 182%
Inc. magazine ranked Richfield Hospitality NO. 2177 on its annual Inc. 500|5000 list, an exclusive ranking of the nation’s fastest-growing private companies. This is the second year in a row Richfield Hospitality has made the list, with revenues growing from $4.4 million in 2010 to $12.6 million in 2013.
“It is an honor to make the Inc. 500ǀ500 list and be among some of the fastest-growing companies,” said Will Loughran, president of Richfield Hospitality. “Richfield has been undergoing many changes in the last year, but our focus is always been providing exceptional hotel operations; which has helped support our continued growth pattern.”
Richfield was also ranked 17 on the top 20 Travel & Hospitality Companies list. The company is poised to continue to grow within the industry, with a three year growth of 182%, while the travel and hospitality industry growth rate is averaging 82%.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at http://www.inc.com/inc5000/list, Richfield’s company profile can be viewed at http://www.inc.com/profile/richfield-hospitality.
The 2014 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2010 to 2013. The minimum revenue required for 2010 is $100,000; the minimum for 2013 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
August 14, 2014
Did you know that in the next five to ten years millennials will be the core consumers in the hospitality and travel industries?
Understanding how to market to this sector is critical as they enter into their peak earning, spending and travel years. We compiled a few different insights that hotels can begin implementing now, as millennials start becoming the dominate consumer.
First it is important to know the demographics of this target audience. Hospitality Times has put together a detailed infographic showcasing the statistics of this group.
Now that we know a little about them, below are some examples of how we can use our knowledge of this group to attract them:
Millennials are looking for a unique experience and are usually willing to pay more for that better experience. As they soon become the leading group of business travelers, it is important to know what factors can influence their decisions on where they choose to stay. For example, “foodies” (who are a prevalent subset of this market) are looking for a gourmet experience and are willing to spend 42% more company money on higher end meals, compared to only 26% of non-millennials. This means hotels will need to revamp their lobby bars, restaurants and food service to meet the expectations of this sector.
Millennial travelers are also highly tech savvy and expect to have access to the web at all times. This means hotels are going to have to invest in improving wi-fi and bandwidth to ensure its guests can be constantly connected. Make sure that logging on to wi-fi is easy by removing obstacles like faulty passwords or low connectivity, but do not compromise security in the process.
A final insight to this group is that sustainability is an important component in the lives of these socially responsible travelers. Creating and maintaining hotel policies around recycling, composting, reusing linens and towels can enhance a hotel’s reputation and give it a distinctive edge among these environment-friendly jet-setters.
For more insight about how to market to millennials contact us.
May 21, 2014
DENVER, Colo. – - Richfield Hospitality, a leading hotel management company, today announced that Will Loughran, the company’s senior vice president of sales and revenue strategy, has been named president.
“Will has been a consistent source of innovation and leadership during his tenure with Richfield,” said Sherman Kwek, CEO of City e-Solutions Limited, Richfield’s parent company. ”Over the course of his career, he has proven himself in the various disciplines that he has undertaken and his background comprises a strong blend of operational and sales experience, not to mention his exceptional teamwork abilities. I am confident that his passion for the hospitality business will enable him to deliver outstanding results for both Richfield and the owners of the properties we manage.” (more…)
April 28, 2014
DENVER, Colo. —Richfield Hospitality, a leading hotel management company, today announced that Peter Nichols has joined the company as senior vice president of business development. Nichols will head all business development efforts for the company, including third-party management and investment opportunities.
“Pete has a tremendous history in this industry and brings a strategic discipline to our development processes and team.” said Will Loughran Richfield Hospitality senior vice president, sales and revenue strategy. ”His leadership and experience will be a great asset to the company and our aggressive growth strategies.” (more…)
April 24, 2014
DENVER, Colo. —Richfield Hospitality, a leading hotel management company, today announced that Alan Baer has been named chief financial officer, responsible for directing the day-to-day operational finance activities of the company’s hotel portfolio. Baer joins Richfield from HRI Lodging where he served as senior vice president finance and chief financial officer for MetWest Terra Hospitality.
“Alan has a successful track record of financial leadership, and we look forward to him joining us in this critical role,” said Will Loughran, senior vice president sales and revenue strategy. “With significant experience, Alan will play an instrumental role in leading Richfield as it transforms the financial disciplines to provide owners and other stakeholders with the superior operating results they’ve come to expect.” (more…)
April 17, 2014
DENVER, Colo. —Richfield Hospitality, a leading hotel management company, today announced that Jeanne Lynch has joined the company as vice president of human resources. She will guide all Richfield portfolio hotels to attract, motivate and train high-performance employees.
“Having worked in a variety of industries in numerous countries, Jeanne brings great perspective on the human resources challenges and opportunities facing the hospitality industry,” said Will Loughran, Richfield Hospitality senior vice president of sales and revenue strategy. “I am confident that with her guidance, our team will develop top notch recruitment strategies, innovative professional development, and associate retention strategies that will propel Richfield as a leader in talent engagement. We are thrilled to have her onboard.” (more…)
November 22, 2013
Committed to positioning the eclectic resort as Santa Fe’s finest leisure destination
SANTA FE, N.M./DENVER, Colo., November 22, 2013—Richfield Hospitality, a leading hotel management company, today announced that it has been retained by a venture sponsored by 1754 Properties LLC to operate La Posada de Santa Fe Resort and Spa in Santa Fe, N.M. Led by new ownership and operator, the hotel will undergo repositioning activities to establish the property as the premiere leisure destination in the heart of downtown Santa Fe in the Plaza district and the closest full service hotel to Canyon Road. (more…)
October 18, 2013
The International Hotel, Kahler Grand Hotel, Kahler Inn & Suites, Marriott Rochester Mayo Clinic Area and Residence Inn by Marriott Rochester Mayo Clicnic Area Under New Management
ROCHESTER, Minn./DENVER, Colo., October 18, 2013—Richfield Hospitality, a leading hotel management company, today announced that it has been retained by Kahler Hotel Group to operate five hotels in Rochester, Minn. Kahler Hotel Group whose board of directors is chaired by Javon R. Bea, who is also president and CEO of Mercy Health System, a vertically integrated health system with 69 medical facilities in southern Wisconsin and northern Illinois. All the hotels, totaling nearly 1,300 rooms, are located in the downtown district and are the closest to the renowned Mayo Clinic. (more…)