Why Branding Has Become the Marketing Tool for Hospitality
By Reynaldo Rey Fernandez General Manager, AC Hotel San Juan Condado | August 20, 2017
Of all the latest trends taking over the hospitality industry in 2017, branding serves as the most essential marketing tool allowing hotels to communicate their vision, values and mission.
Branding has evolved past the company's name, slogan, sign, symbol or design. Although it is still used as a means to identify a company, branding has developed into a complex but ultimately necessary concept in the marketing world. The objectives of good branding are to:
- Clearly deliver the message
- Confirm the company's credibility
- Create a connection between the market and the product or service
- Motivate the buyer
- Create loyalty
According to Skift.com, at last year's New York University Hospitality Industry Investment Conference, hotel chief executive officers focused on understanding how branding works and the importance behind good branding. What was concluded from the conference is that in an era when hotel companies are buying each other and the home sharing experience has taken over the online marketplace, the number of brands only seems to be growing and with that comes an increase in competition.
Branding is the future, especially in the hospitality industry. As the number of brands grows at an exponential rate, hotels begin using it as a tool to differentiate themselves and make smart business decisions. Hotels like Hyatt, Trump and Marriot (as seen in the company's new AC Marriott properties) have begun to acquire more brands in recent years as a means to develop their distribution system and build bigger collections that appeal to specific demographics at a lower cost.