ASFONA Owner Board Members confer with Hyatt management team members to explore opportunities within the hotel giant’s impressive global brand portfolio
CHICAGO — MARCH 2, 2020 — ASFONA, the hotel industry’s only independent non-brand affiliated hotel owner/operator association, held its first Board Member meeting of 2020 in Chicago with a focus on Hyatt Hotels and the company’s impressive global brand portfolio. The February meeting, which took place at the Hyatt Regency Downtown Chicago, included a morning session, in which ASFONA Owner Members had an opportunity to meet with management team members of Hyatt Hotels. The Hyatt team was led by Mark Vondrasek, Chief Commercial Officer and the other Hyatt executives included their global brand leaders, information technology executives, SVP global sales, SVP development and owner relations and the global loyalty program SVP’s. During the afternoon session, the Hyatt team presented the entire Hyatt brand portfolio, along with each brand’s positioning, to the ASFONA Owner/Operator Board members and Associate members in attendance. The ASFONA Owner/Operator Board currently represents over 1,530 hotel properties collectively, with some Board Members operating a number of Hyatt branded properties.
The meeting with Hyatt is the continuation of ASFONA’s “Diversification Strategy” which began with the inclusion of Marriott Hotels at the ASFONA meetings in 2017. This was followed at subsequent meetings by the attendance of executive management from first Virgin Hotels and then Wyndham Hotels & Resorts. “It’s wonderful for our group to have the opportunity to meet and to secure firsthand brand-related input from the management teams of these outstanding hotel companies, from which we have developed many mutually beneficial relationships,” stated John Shingler, president of ASFONA.
Hyatt Hotels Corporation, which is headquartered in Chicago, is one of the world’s leading global hospitality companies with a portfolio of 20 premier hotel, resort and spa/wellness brands. Hyatt also operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its members. As of December 31, 2019, the Hyatt portfolio included more than 900 hotel, all-inclusive, and wellness resort properties in 65 countries across six continents, and has plans to open nearly 200 additional properties in the Americas by 2022. The company’s overarching mandate, which they presented at the ASFONA meeting, is to “care for people so they can be their best.”
“As ASFONA continues to diversify its focus on the hotel industry’s leading hotel organizations, it was an honor to welcome the team from Hyatt Hotels to meet our group,” said Shingler. “With over 20 outstanding brands in its portfolio, Hyatt represents extensive opportunities for our Owner/Operator and Management Company Members, as we move into 2020 and beyond.”
In addition to its focus on Hyatt, the ASFONA Owner Board Meeting was also provided with an exclusive overview of the North American hotel market and current market characteristics by Bobby Bowers of Smith Travel Research (STR). Despite some prevailing issues suggesting a possible softening of the hotel market worldwide, the presentation showed cause for optimism in the North American sector.
“The ‘State of the Nation’ for the hotel industry presented at the meeting by the ASFONA Owner/Operator Board Members, together with the STR presentation, is a much-anticipated segment of the meeting, comprising valuable information on market conditions that ASFONA members have come to expect,” continued Shingler. “This detailed market-specific performance data and projections provide intelligence and guidance regarding potential business and growth opportunities. Included in the discussion was the recent news that Brand USA has been reinstated and funded through 2027, a decision that will have a significant and positive impact on the future prosperity of the hospitality and travel industry.”
Shingler continued, “It appears that current global economic indicators are such that we should expect a reasonably robust market, going forward. However, we will continue to face some threats, such as the Coronavirus, which is a serious concern and, although the challenge will pass, the full impact is still unknown at this point in time.”
