The hotel industry is changing. Every year, it seems like the expectations of guests increase. For 20 years, JD Power has been conducting a survey to measure guest satisfaction among different categories within the hotel industry.
Rates of satisfaction have been improving. For four consecutive years, the survey demonstrates that guests have been increasingly happy with their stays. However, the increase for 2016 was only two points, which is smaller than in prior years. This has caused some concern within the hospitality industry.
One sector that has bucked this trend is the luxury segment. Guests perceive luxury hotels as providing value that is out of proportion to price. This may be due to a reduction in fees and costs.
Other trends noted in this survey include the discrepancies between generations. Younger guests are more likely to use social media in rating their stays. Overwhelmingly, guests post about positive experiences more than negative experiences. Older guests are much more likely to belong to a loyalty program than their younger counterparts.
As an entrepreneur in the hospitality industry, Terry Baltes follows such research closely. In order to effectively market and sell properties, he knows he must understand trends among consumers. As the founder and head of Baltes Commercial Realty, Ltd, he is responsible for hotels in Ohio, Louisiana, Kansas, West Virginia, and Indiana. Baltes is known throughout the Midwestern region for his real estate dealings.
Baltes specializes in selling properties. Although he works with many types of commercial real estate, hotels and self-storage facilities are something of a specialty for him. Baltes is a graduate of Ohio State. He has almost 40 years of experience as head of Baltes Commercial Realty.
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