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PERSONAL STORIES

As a recipient of the ALP Fund Scholarship Grant in the first few months of my innkeeping experience, I can truly say it made a huge difference in how I do things. I was able to get so much knowledge, make great contacts, and take away things that have made our business very successful. I also learned the importance of getting involved in the industry and taking part in the state, regional, and national conferences.

Leslie Drake, Innkeeper, Fleur-De-Lys Mansion, St Louis, MO

Attending the 2022 ALP Conference was really beneficial for us. We were able to learn about upcoming technologies and meet lots of vendors. We especially loved meeting other Innkeepers and making those connections. We’re very grateful that we received the Scott Bushnell Grant, which helped make our attendance possible!

Brenda and Peter Beznoska, Innkeepers, Andon-Reid Inn Bed and Breakfast, Waynesville, NC

Session

 

Takeaways

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An Intermediate Understanding of Creating Satisfied Guests - Providing the "Ultimate" Guest Experience

How to become a “Needs Anticipation Specialist.” Hear from seasoned lodging professionals about the tools and techniques they use to discover why guests are visiting, how they leverage automation tools to capture information, and then utilize that information to enhance a guest’s future visit. Thus giving them the best experience at your property and creating ‘raving fans’!

Takeaways

  • Defining your target guest so that you can speak to them directly through marketing.
  • Creating a vacation guide to capture guests during the planning/dreaming phase.
  • Leveraging automation tools to assist with the lodging professional’s workload.
  • Using the data for repeat guests.

Universal Analytics vs GA4

GA4 is right around the corner for many small businesses. Knowing the differences between the comfort of Universal Analytics and the new look and feel of GA4 can be intimidating. We’ll go over the key points you’ll need to be prepared for the next steps.

Takeaways

  • This change will happen on July1, ready or not
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    We need to think about users and events vs page views
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    You can better your GA4 by turning it on now – so AI can learn your market
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    It will take time for all of us to comprehend all the new data and how to use it
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    The more hard data we have about our guests the better to target and better ROI
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    Change is hard, but not to be feared when it comes to GA4

A Beginners View at Creating Satisfied Guests

The independent segment of the hospitality industry is built on the foundation of crafting experiences for guests from the initial point of contact with your brand by website, social media post, or by word of mouth. This session draws on the experience of three hospitality owner/operators in different regions of the US who have worked to craft and market their own brand of hospitality and engaged their guests as a constant feedback loop to ensure their success in the long term. We will help attendees to understand how to view complaints as gifts and discuss the importance of ongoing education and personal experience as owners to inform our relevance as operators in a constantly evolving market. Every decision you make as a hospitality owner or operator should be prefaced by the impact on your current and future guests. Begin with experience, follow up with personalized service and satisfied guests will follow.

Takeaways

  • Crafting and Selling a Transformational Hospitality Experience. Learn how to create a need or desire for potential guests to make them eager to make an initial reservation, then a return reservation, and then refer friends and family to your property.
  • Feedback Loop. Your guests are the greatest source of information. Learn when and how to listen and respond to your guests and you will be rewarded.
  • Complaints as Gifts. After finely tuning your senses to preempt your guests needs, complaints make us better owners, managers, and Innkeepers. Learn how to handle complaints and turn them into opportunities to improve the guest experience.
  • Remaining Relevant. Your continued experience of your property and other hospitality models and markets will help you to stay on the cutting edge.

Introduction to Photography & Décor - First Impressions Are Everything

Just like staging a home in residential real estate, you need to set the stage for your guests’ experience – and it starts long before they arrive at your property. In this introductory session, our panelists will discuss how to set yourself up for success for your first photoshoot. From arranging decor to budget expectations to putting your investment into action on your website, we’ll help you get the ball rolling on this critical piece of your marketing.

Takeaways

  • Setting a budget and project expectations
  • Tips for arranging your rooms and common spaces
  • Setting realistic timeline expectations and goals
  • How and what to shoot for your website and beyond
  • Beginner tips on food & beverage staging preparation

 

 

Sponsored Spotlight - Unlocking Your Full Potential: Discover How ThinkReservations Can Transform the Way You Operate Your Business

The lodging industry has continued to evolve. It’s more important than ever to analyze the way you are operating your business, pricing your rooms, and the way you are interacting with your guests. At ThinkReservations, we have worked with thousands of businesses and created a professional and comprehensive platform that will enable you to take advantage of these new opportunities. Join Alfred Aday, the CTO and Principal Engineer of ThinkReservations, as he walks you through features that will change your business. This is guaranteed to be a presentation you will not want to miss!

Are Google Hotel Ads in Your Future?

Learn from a panel of certified Google Hotel Ads providers about the benefits, strategies, technical requirements, and cost of including Google Hotel Ads as part of your property’s marketing plan. Understand the differences between Google Pay Per Click, Google Hotel Ads, and Google FBL. See how Google Hotel Ads compare to traditional online travel agency platforms.

Takeaways

  • Understand the benefits of Google Hotel Ads compared to other Google marketing such as Google Pay Per Click and Google FBL and to online travel agencies
  • Learn how the Google Hotel Ads platform interacts with your Google Business Listing and Website.
  • Know if your property qualifies for Google Hotel Ads
  • How to get started with Google Hotel Ads
  • How to select among various cost options such as commission vs. pay per click

 

A Conversation About Artificial Intelligence – What is AI & Why it Matters

  • Join a panel of seasoned industry experts as they have a lively discussion about the latest disrupter to search. They will be discussing how they think AI programs such as ChatGPT will affect our businesses. How it might change our marketing strategies, and is this the death of Google?

Outdoor Lighting Perspectives Sponsored Spotlight - Architectural and Landscape Lighting: Property Essentials

This session will discuss architectural and landscape lighting techniques for the hospitality industry. We will explore why lighting is essential for a fantastic guest experience

Takeaways

  • Finding you: Lighting helps distinguish your properties curb appeal and influences potential guests in readily choosing your location. Lighting helps your guests physically find you when traveling to your destination.
  • Enjoying You: The first thing a guests sees is the exterior of your property. Set the “WOW” experience right then and there. Guests also like to enjoy well-lit public spaces and you can enjoy the guest experience knowing you have reduced any potential for accidents and liability on your property.
  • Remembering You: A wonderful guest experience will result in the 3 R’s, Reviews, Referrals and Return Visits. Lighting sets the magical tone form the onset. Lighting public spaces for family gatherings, weddings, corporate retreats and any special occasion create memories that your guests will talk about and share for some time.
  • Why to partner with a professional lighting company-what is the value? Superior product selection, design expertise and continued service.

Acorn Marketing Sponsored Spotlight

Details and Takeaways Coming Soon

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Google Ad and Google Hotel Ads: Optimizing Marketing ROAS

This session will discuss how to utilize Google Ads and Google Hotel Ads paid search channels to drive traffic and bookings to your website. Attendees will learn how to determine return on ad spend (ROAS), set budgets, and analyze the performance of their ads through reporting tools. Tips on optimizing campaigns and identifying underperforming ads will also be covered. The session aims to provide a comprehensive understanding of effectively using these channels to maximize return on investment.

Takeaways

  • Determining a good ROAS
  • Determining performance based on reservation pace
  • Determining reporting frequency
  • Determining budget based on business factors/seasonality
  • Deciding when to tweak or adjust campaigns

An Intermediate Level View of Revenue Management, Booking Pace, and Yield Management

Details and Takeaways Coming Soon

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An Advanced Lesson in Revenue Management, Booking Pace, and Yield Management

Details and Takeaways Coming Soon

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Google Search vs. Google Travel and How it Impacts the Way You Market Your Property - Advanced Level

Details and Takeaways Coming Soon

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Maximize Your Use of GA4

This will be one of the most timely and best attended sessions of the conference.  On July 1st, with the sunsetting of Universal Analytics, many property owners are going to be faced with a new way to review their marketing initiatives and site traffic.  With the newness of GA4, there are bound to be a number of questions.  This session will be a deeper dive into GA4 following a presentation by Pat McCauley the day before which reviewed the differences between Universal Analytics and GA4 at the beginner level.

Takeaways Coming Soon

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Mastering Forecasting Tools for Data-Driven Success

Maximize your profitability and success as a new property owner with a practical guide to forecasting tools for your property. Learn how to find, interpret and apply key techniques and tools to optimize your room rates, staffing, and more.

Takeaways

  • Understanding the key forces that can impact your business, such as seasonality, local events, and competition.
  • Identifying the most relevant forecasting tools for your business, such as demand modeling and reports.
  • Implementing forecasting tools and developing a process for regularly tracking and analyzing data to inform your business decisions.
  • Using your forecasts to make informed decisions about marketing, rates, staffing, and other key areas of your business.

Expert Strategies for Creating Satisfied Guests

 Guests want the moon with a side of charcuterie and wine, and you want to give it to them. But is it what they really want? Are you able to really provide it? The final panel in the three-part series on creating satisfied guests will focus on strategies to create amazing experiences for your guests. We’ll talk tools and ideas but also how to evaluate the effectiveness of these experiences, for both the guest and your business.

Takeaways

  • Tips to effectively communicate with guests
  • Techniques to calculate returns and evaluate impact
  • Strategies for managing difficult or dissatisfied guests
  • Best practices for using customer feedback

A la Carte Pricing Strategies

The hospitality industry has been moving toward “a la carte pricing” for several years. From cruise ships to hotel chains, guests are now able to personalize their experience more than ever as business models try to balance staffing and inflation issues with customer preferences to create win-win experiences for their guests.
The session will focus on why and how to effectively develop, implement and market this product. We will share a real life success story using this pricing strategy detailing how it created an even better guest experience while at the same time increased profitability.

Takeaways

  • “A la carte” pricing is about customizing the guest experience, not taking away amenities.
  • Key considerations as to what items might work best for your Inn for “a la carte” pricing
  • How to effectively implement and market this pricing strategy
  • Real life success stories

 

Financial Benchmarking to Improve Your Business Results

This 60 minute interactive session is a round table forum helping experienced hospitality professionals to recognize, develop and use financial benchmarks for their business. Work with successful hospitality property owner/operators and industry consultants to get your questions answered. Understand tools and techniques that are available to you going forward. Focus in the areas you want to master to advance your business to the next level. Hear what others may be doing that could benefit your business.

Takeaways

  • Understanding benchmarking for top and bottom line management
  • Getting your financial house in order, creating and working your plan
  • When and how to grow your business based on financial viability
  • Ownership and Exit Strategies that fit your unique business model
  • What your peers are doing that works.

Photography and Décor - The Proof is in the Returns - Advanced Level

This session will dive deep financially into the ROI calculations of photography and renovations.  Budgets need to include the alterations to websites, marketing firms, and calculating how often owners should re-do their images, especially if there is rebranding or renovation of the property.

Takeaways Coming Soon

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Free Marketing Apps, Tools, and Software to Simplify Your Marketing Efforts

This 45 minute discussion will leave attendees with a list of exciting free products they can use to help manage and market their business.  There will be some emphasis on the cost savings by comparing the “paid” versions to the “free/open source” options.  

Takeaways Coming Soon

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Expanding Breakfast Offerings for Your Guests

Have you felt that it is time to kick your breakfast offering up a notch but are coming up with nothing? Maybe you are just in a breakfast rut and are looking for something different to make it fun again? This session will cover important considerations with regard to your current as well as your future menu. The presenters will also discuss how and why their enhanced breakfast offerings have been so well received.

Takeaways

  • Understanding how the size and type of property dictate what you serve and how you do breakfast.
  • Consideration of costs in your offerings
  • The importance of proper planning and guest expectations
  • What is important when considering expanding your offering.
  • Sharing breakfast ideas that the presenters have incorporated that their guests have absolutely loved.

Instagram for Business Owners

Buckle up, Buttercup, this is the Instagram foundations+ session you will regret missing. From strategy to stunts to slick tricks, we will lay it all out for you in easy terms using our favorite KISS method.

Takeaways

  • How to choose the account type you need.
  • Difference in content and data for Post vs Reel vs Story.
  • Easy apps and tools to create and repurpose content.
  • In-session live demo: Create a Reel and a Story.

Smart Tech for Your Guests

Will McQueen will lead the panel in a roundtable discussion about the various tech products that can be useful in the lodging industry to enhance the guest experience. The panelists will exchange ideas on how some products may work in various lodging settings with regard to different markets and demographics.

Takeaways

  • Attendees will be able to decide what smart home features can be useful in lodging.
    -Cable vs streaming
    -Smart TVs-suitable solutions for a lodging setting
    -Smart home products for enhanced guest experience
  • -Smart home products for enhanced guest experience
  • What other tech tools are available to can enhance the guest experience when staying at a property.
    -Guest communication using texting
    -Digital welcome guides
  • Other tech tools that can help lodging professionals be a more effective host.
    -Noise Monitoring solutions (like a smoke alarm but for noise)
    -WiFi solutions that also act as a contact data capture solution

 

Expanding Your Revenue Reach to New Demographics

This 45 minute roundtable session will enlighten lodging owners with the possibility of dramatically increasing revenues by simply looking to add a few new demographics into their marketing schemes.  

Takeaways Coming Soon

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The Tech Used by Successful Operators

This 45 minute session will cover tech tools available to owners to automate some time consuming facets of their lodging business.  Unlike our other session, “Smart Tech for Your Guests”, this session will focus on the benefits of technology that owners can embrace to automate their business. 

Takeaways Coming Soon

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Understanding Revenue Management, Booking Pace, and Yield Management for Beginners

This session in the Beginner session leading up to an Intermediate and Advance session on the subject.  Attendees will leave with a solid understanding and the positive impacts which can come from use of the concepts.

Takeaways Coming Soon

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The Tech You Didn't Know You Needed

This session will enlighten attendees with technology, software, and online presence they will need to propel their business and profits forward.

Takeaways Coming Soon

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A Lesson in Insurance for New Lodging Property Owners

This session will walk new owners through the most common coverages and terminology of an insurance policy enabling the owner to methodically evaluate their current policy and determine if changes should be considered.

Takeaways

  • Participants will understand the impact of market value and replacement cost as it applies to building coverage.
  • Participants will understand the most common coverages included in the average insurance policy.
  • Participants will understand the most common amendments (i.e., liquor liability, and non-owned auto) that are added to the insurance policy.
  • Participants will understand the most common exclusions in an insurance policy.
  • Participants will understand their responsibilities, the adjuster’s responsibilities and the brokers responsibilities via the presentation of claims case studies.

KEYNOTE : Your Attitude for Success – Choose Your Attitude for a Better Perspective on Life and Work

What separates the successful businesses from the rest? It’s not ideas or money, it’s the attitude that they bring to the table, every day. Do you have what it takes to succeed? It’s there, inside of you.
There never seem to be enough hours in a day, so what can you do? The good news is that there’s a lot that you can and should be doing, you just need a little help, a little perspective or maybe a big nudge. Attend this session to recharge your inner power to reach greater heights, personally and professionally. You’ll leave feeling empowered to take the actions necessary to move your business forward.

Takeaways

  • How to understand the power of your perspective
  • How your time is more in your control than you may believe
  • How you’re not alone in what you’re feeling
  • How you can use this power to succeed in business and in life

 

Insurance Questions to Ask Before You Buy

This session will guide prospective hospitality owners to understanding the insurance needed for hospitality venues.

Takeaways

  • Participants will understand the impact of market value and replacement cost as it applies to building coverage.
  • Participants will understand the most common coverages included in the average insurance policy.
  • Participants will understand the most common amendments (i.e., liquor liability, and non-owned auto) that are added to the insurance policy.
  • Participants will understand the most common exclusions in an insurance policy.
  • Participants will understand their responsibilities, the adjuster’s responsibilities and the brokers responsibilities via the presentation of claims case studies.

Using Meta Business Suite Like a Boss

Meta Business Suite provides property owners with a management tool for both Instagram and Facebook. We’ll look at how to use the platform to post content to both IG and FB at the same time, schedule content – posts, reels, carousels, boost posts, and review Insights into how the content is performing. All this is done from one spot, accessed right from your Facebook Page, saving you precious time.

Takeaways

  • How to access Meta Business Suite
  • How to schedule content to both Facebook and Instagram at the same time
  • How to use the Meta Suite Planner
  • How to check Insights to see how the content is performing

Using Social Media to Grow Your Newly Acquired Business

This session will give audience members a taste of the importance social media plays in today’s marketing schemes.

Takeaways

  • Understand your social media audience
  • Select the right Social Media Networks for your audience
  • Figure out a realistic social media budget
  • Plan the content you wish to share
  • Set up your accounts, and establish the best times to post

Email Marketing Best Practices and CRM's

Join us for a comprehensive overview of email marketing best practices. In this session, we’ll cover everything you need to know to get started with email marketing, including how to develop a strategy, build a targeted email list, and track the results of your campaigns. Whether you’re new to email marketing or looking to improve your existing efforts, this session is a must-attend for anyone looking to maximize the effectiveness of their email marketing efforts.

Takeaways

  • When to use email marketing
  • Email marketing benefits
  • Picking a CRM
  • Creating an email marketing strategy, avoiding writers block
  • Building your email list, and measuring your results.

Protecting Your Critical Business Information and Personal Identity in Today's Digital Wild West

We don’t know what we don’t know, and data security’s constantly emerging threats can feel a lot like playing an unending game of whack-a-mole. This session will finally explain – in plain English – how to secure your data to prevent costly breaches, protect your Personally Identifiable Information (PII), and prevent ransomware; and what you can do right now to protect your business, customers, family and yourself from hackers, phishers, extortionists, and other cyber miscreants.

The information presented applies to and is valuable for everyone at all levels. Even many CEOs of major corporations don’t really understand the true level of risk exposure to the pervasive data security threats facing them, because no one can be an expert at everything. Attendees will learn the best practices you can easily employ to protect your data and by extension your business and personal life from hacker incursions.

Questions from the audience are encouraged throughout this interactive session and attendees leave with a newfound understanding of cybersecurity and associated best practices.

Takeaways

  • Get cyber (breach) insurance.
  • Use layered security: tokenization, encryption, EMV, multi-factor authentication, smart passwords, and PCI compliance.
  • Add CAPTCHA to all online payments pages to stop card-testing attacks, and segment your inn’s network so malware downloaded by guests can’t infect your administrative systems.
  • Use complex passwords and safely store them in a password manager app.
  • Make sure all systems are up-to-date, including anti-virus, firewall, your operating system, and all software and programs.

How to Connect Influencers with Your Business​

Hearing the term “influencer” brings up a lot of different definitions in the hospitality marketplace, but most aren’t sure how to navigate these opportunities — until now. We’ll explore why and how influencer programs work, details on how to best leverage these partnerships, which performance metrics actually matter and how to measure a return on investment (ROI). There will also be a live Q&A session where the Visit Phoenix Media Relations team will field questions from attendees using real-life examples that cater directly to your business.

Takeaways

  • Insight into how to identify the right influencers for your business.
  • Best practices to communicate and work with influencers.
  • What to do with content that an influencer produces.
  • How to maximize your reach by connecting with community and your local CVB/DMO.

Planning to Maximize your Business Success!

How do you take advantage of the information and sources from this new owner conference to create and execute a plan for success when you return to your property? Carol and Linda will lead a discussion and offer suggestions to attendees as they reflect on their takeaways from two days of sessions.

Takeaways

  • What ideas resonate and apply to your property?
  • How can you formulate your plan and implement these new ideas?
  • What tools and services are needed to support your plan?
  • How do you measure your results while adjusting as necessary?
  • What sessions in the main conference will help you meet your goals short and long-term?

 

Selling Lodging is an A.R.T.

If you’re just selling heads in beds, you’re missing an opportunity and you’re missing out on profits. Before guests come to stay with you, or celebrate their occasion at your property, they already need a bed to sleep in or event space, but what else do they want? What else do you offer?

Takeaways

  • A – Aspiration & Authenticity
  • R – Responsiveness & Reduced Friction
  • T – Transparency & Tenacity
  • How to use A.R.T. to sell and profit more!

 

Own Your Business Success! Create Your Plan and Understand the Tools to Implement and Execute for Success

A deep dive into making the most of your precious time and talent while developing your staff and constantly finding ways to wow your guests in the face of change.

Takeaways

  • Planning when time permits insures effective execution when time is at a premium
  • As a small business Owner and/or Manager you either manage the business or others will. How to own the job.
  • Delegation of planned tasks when, to whom and how
  • Tools that speed the process and support your follow through
  • Harnessing the “Super Power” of being a small independent hospitality business

Google Search vs. Google Travel and How it Impacts the Way You Market Your Property - Beginner Level

Google Travel is dominating our industry, but so many property owners don’t even realize there is a difference between Search and Travel. Search is where you find doctors, plumbers and lawyers, but only the beginning of a guest finding your inn. Traditional SEO (Search Engine Optimization) no longer has the impact for location specific searches as it did before Google Travel emerged on the scene. You don’t want to miss out, so please plan to join us for this information packed session!

Takeaways

  • What is the difference between Google Search and Google Travel?
  • Why do I need to understand Google Travel?
  • How do I list my property in Google Travel?
  • How does Google lure my guests away from Google Search and into Google Travel?
  • Why doesn’t Traditional SEO work the way it did before Google Travel emerged on the scene?

 

Creating an Editorial Content Calendar

How to organize digital marketing efforts to optimize business goals is the focus of this session. Attendees will be shown how to develop a content calendar consisting of essential communication formats such as articles and blogs, email newsletters, and social media posts. The session will also share which mediums are best suited for each of these communication types and how the various mediums work together in delivering the marketing message. The goal of these content communications is to optimize direct guest bookings, achieved through increased website traffic and engagement with prospective and return guests. Details like editorial frequency and dates, types of content topics, and most effective mediums will be covered.

Takeaways

  • The essential elements of a content marketing plan / editorial calendar
  • The types of content and mediums used to reach business goals
  • How to effectively plan an integrated communication approach across various mediums
  • Format, frequency, and sequence of content communications

 

Creating a Winning Business Plan

A detailed look at creating a working plan that takes you from business concept/purchase to your ultimate goal.
Find out who and what you need to create a plan that creates excitement for potential investors/lenders and at the same time keeps you on track to meet your goals.

Takeaways

  • Who are your stakeholders and how do you create your “Fantasy Board of Directors”
  • What are the specific elements of a hospitality business plan, step by step, and where to get industry data for your chosen location(s)
  • What matters to lenders, investors and other stakeholders and how to give them what they need to say yes.
  • How successful independent business owners use their plans as a living, growing and changing tool for success
  • Balancing day to day business activity and a focus on the future. The difference between surviving and thriving.

 

Photography and Décor - Where the Images are Used

This session covers the usage of the website imagery and images used in a lodging owner’s marketing plans. The timing of the images (seasonal marketing), the location of the images (OTA’s, website, social media, blogs, etc.), and using the images in online profiles. Attendees then need to be aware of how to protect their images from re-usage by unauthorized parties.

Takeaways

  • The importance of images in the guest decision process
  • Driving direct bookings
  • Choosing images with a purpose
  • How images can help your SEO
  • Investing in quality images

 

Rebranding What is Now Yours

This session will help new owners decide whether or not it makes sense to continue the legacy of a lodging property or to rebrand or a mix of both.

Rebranding may encompass parts of the business or it may be an entire rebranding of the property, top to bottom. We will review the keys steps both in the digital world and the physical side of the business

Takeaways

  • Attendees will understand a framework to assess your business & property to understand the various situations that can be encountered
  • Attendees will understand the aspects to evaluate for each of the situations and the risks/opportunities to make changes
  • Attendees will be provided examples / case studies to understand the different options and focus areas to make a change – and the outcomes
  • Attendees will understand the options for getting assistance in evaluating and executing changes – How do I / When do I / Who do I engage
  • Attendees will understand how to measure success and insights from properties that successfully executed a pivot in their business model

ADA: Pitfalls to Avoid & Best Practices

This session will cover the importance and challenge of both physical and digital ADA accessibility and potential liability. Join two industry experts and advocates on what you need to know to reduce ADA liability and the first B&B owner charged with an ADA 3rd party OTA lawsuit. Expert knowledge and experience will be shared.

Takeaways

  • You’ll learn that just because you are a historical property does NOT make you exempt from the ADA. You’ll learn if you are exempt or not!
  • You’ll learn if you are required to provide accessible accommodations under the ADA. Both property requirements & individual room requirements will be explored.
  • You’ll understand what it means for your website to be ADA compliant regardless of your properties’ status.
  • You’ll understand if your booking engine is ADA compliant or what you need to do to ensure compliance.
  • You’ll hear first hand about a real-life B&B case study on OTA Compliance and what you should do if served with a lawsuit for OTA Compliance.

 

Successful Marketing & Pricing Strategies for New Owners

In this session, we will cover key strategies for successful marketing and pricing for new owners in the hospitality industry. You will learn how to set the right price for your property using variable and dynamic pricing to account for occupancy, seasonality, and your competition. Doug and Nathan will also discuss the importance of having a strong online presence through a well-designed website, and the role of high-quality photos in attracting new guests. Additionally, we will cover the value of a good property management system in streamlining operations and the benefits of seeking out professional marketing assistance as a new business owner. By the end of this session, you will have a clear understanding of how to effectively market and price your property to drive revenue and maximize profitability.

Takeaways

  • Pricing – through key talking points, understanding the multiple strategies available to strike a balance in
    driving both revenue and profitability
  • Web Site – driving revenue begins with having a well built web site and & “search engine optimization”
  • Pictures & Videos – A picture paints 1,000 words! How professional photos and videos can drive more business
  • Property Management Systems – an excellent booking engine connects the on line prospective guest to
    a booked guest and can provide channel management with OTA’s, better communications with guests,
    yield management & upsell opportunities
  • Marketing Support – a marketing company will provide guidance on everything from web site design to
    photography to booking engines. They can assist with marketing campaigns, search engine
    optimization, social media platforms, google analytics and much, much more

 

ALP and AHLA Advocacy Update

Are you operating under the radar? Learn the many legal issues in the lodging industry you may encounter every day without being aware.

Takeaways

  • Understand your obligation under ADA Title III to accommodate food allergies.
  • Discover how different states handle short-term rental regulations and how that may apply to your locality.
  • How to play music in your lodging establishment without violating copyright law.
  • ADA website compliance – summary of the legal landscape.
  • Legal trends in the hospitality industry.

 

Sponsored Spotlight Session - Optimize Your Business with ResNexus

When it comes to award-winning property management software, efficiency counts. That’s why ResNexus is an all-in-one solution, helping thousands of hospitality businesses balance all the plates that come with the job, from online bookings and revenue management to powerful reporting and digital marketing. Plus, ResNexus provides industry-leading customer support that brings all these important tools together with a personalized and caring approach that is dedicated to helping your business grow.

Takeaways

  • Digital Marketing – A property’s website is often the first point of contact with new customers; that’s why ResNexus provides professional website design to leave a lasting first impression.
  • Property Management Software – ResNexus makes property management easy, from adjusting rates and making reservations to collecting payments and managing retail items.
  • Travel Protection – One thing that sets ResNexus apart is its built-in Travel Protection service which protects your business from lost revenue from last-minute cancellations due to illness.
  • Best Online Shopping Experience – Provide the best experience to your guests who book online with a frictionless booking process and sidebar add-ons.
  • Customer Support – Even first-rate software isn’t worth much without industry-leading support. That’s why ResNexus provides annual account reviews and coaching for subscribed properties, as well as quality phone support.

 

The Rewards of Owning a Lodging Business

This session will explore the commitment, joys and challenges of owning your own lodging property. No two independent lodging properties are the same. This preliminary session will touch on day to day operations, industry margins and marketing to allow you to see the different types of lodging business models there are. Combined with your unique skill sets, this will help you to determine the right lodging business model for yourself.  

Takeaways

  • You will learn some of the basic joys and challenges of owning a professional lodging property.
  • You will learn industry margins of different profit centers within the lodging industry.
  • You will start to explore the different lodging business models that exist.
  • By identifying the different business models, you will gravitate to the lodging business models which may fit your particular skill sets and goals.

 

Build, Convert, or Buy – The Decision of a Lifetime

This session will provide some thoughts, both pros and cons on the approach to buying an existing Inn, building an Inn from scratch or converting a property to a commercial Inn.

Takeaways

  • How do I determine what I want to do? Do I want to buy an existing Inn, build from scratch or convert a property?
  • What are the advantages and challenges of each option?
  • What are some of the steps in each option?
  • What are the cost considerations for each? Know your financials
  • Provide some good examples of each alternative to getting into innkeeping.

 

How to Conduct Due Diligence, Patience, and Perseverance

How To effectively manage the Due Diligence Process and mitigate downside risks, protect your interests, and verify the stability and profitability of the purchase of a hospitality property.

Takeaways

  • he acquisition timeline and the Benchmarks to follow for a successful transfer into a new business, property, and lifestyle.
  • Deliverables (from Seller) necessary to make the most informed initial decision on your next Inn or B&B acquisition
  • How to uncover facts and circumstances that may impact the value of the property being acquired.
  • Have a due diligence checklist of specific important factors that can be adapted to any size property in any location.
  • How to navigate final negotiations and steps prior to the purchase.

 

The ABC's of a Lodging Property's P&L

This session will help attendees understand the workings of a hospitality property’s P&L and how it can be used to value a property one may be interested in purchasing.

Takeaways Coming Soon

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Organizing Your Personal Finances for the Lender

This session will give an opportunity for aspiring innkeepers to gain a better understanding of how to prepare and what options they might have as they navigate financing with their purchase.

Takeaways

  • Clear sense of borrower’s assets, liabilities, financial statement and overall buying power. How much can I afford?
  • Items that would be needed for a lender to consider partnering with the buyer. This includes all the documentation a lender will typically need to make an educated decision on the borrower’s financial viability
  • Different options for financing your Inn purchase. A review of the options for purchase and when each option is pertinent to the transaction.
  • Different injection options to account for down payment and working capital after closing. Discussion about personal injections, ROBs funds, seller held financing, gift funds and more.
  • Understanding of the overall timeframe from property target to final acquisition. How long should the borrower realistically expect the overall financial process to take

 

Creating a Smooth Transition of the Property's "Intellectual" Assets Between the Buyer and the Seller

This session will help prospective buyers understand the intricacies involved with the transition of the intellectual property of a lodging business. These are valuable assets and are critical to ensuring your marketing success.

Takeaways

  • Attendees will understand the main phases of the buying/selling cycle
  • Attendees will understand the key intellectual property considerations at each phase of the buying/selling cycle
  • Attendees will understand the key intellectual property items to include in a Letter of Intent and Sales Contract
  • Attendees will understand better the aspects to consider in getting control of key intellectual property items – media, social, booking engines, website/hosting, etc.
  • Attendees will understand various risks and approaches when working with sellers (not all sellers are the same)

Lodging Marketing Basics and Valuating the Marketing Program You'll be Purchasing

Learn why marketing is important to your new business and how to evaluate prospective property readiness and required investment. Get a strategy tool kit that includes brand evaluation, identifying marketing goals, developing a marketing plan and approach, selecting marketing and technical tools. We will also explore how to put a value on a marketing program for a target property.

Takeaways

  • Get a toolkit for evaluating potential properties
  • Identifying marketing goals based on the property’s needs
  • Developing a marketing plan and approach
  • Selecting marketing and technical tools
  • How to value on a marketing program for a target property

Buying and Rebranding a Property

This session will explain the processes involved if a new owner has intentions of changing the branding of the property they are looking to purchase.

Aspiring Lodging Professionals will be given the opportunity to expand their property search by realizing they can change the branding once they purchase. The physical structure, location, and size may be the perfect fit, but the prospective owners may feel the property is antiquated. This is not a reason to give up. It’s a reason to be excited about the possibilities. It will be your session which can show real examples of properties who have changed direction with parts or all of the business.

Takeaways

  • Attendees will review the steps involved in searching/ purchasing a property and how to identify and evaluate the opportunities to grow the business
  • Attendees will understand the aspects involved in evaluating if a rebrand is needed – and how significant should be the rebrand
  • Attendees will understand all the details involved in rebranding, the risks, the steps that must be taken and how to evaluate whether to DIY or get professional help.
  • Attendees will get an overview of the data & assets to be handed over as part of the purchase process and the importance of assessing / identifying / including in contract / having proper handover
  • Attendees will understand how to assess what/where/when/how to rebrand

Food & Beverage Options to Explore When Evaluating a Property to Purchase

This session will help prospective buyers focus on the F&B aspects of their potential new business – for good or for bad.

Takeaways

  • Do you really want to own a property that offers F&B options, from breakfast, to amenity add ons, to more than breakfast meals, to events?
    You should leave understanding
    – your options and
    – what owning a property with F&B offerings entails, from not offering anything to owning a restaurant and hosting events.
  • What does the property you are considering offer and does that meet your expectations, skill set and anticipated target guest?
    You should leave with a good understanding of how
    – the talent you bring to the property may fit or not fit into what was previously offered,
    – how the property you are considering may or may not meet the type of offering what you envision on a go forward basis, and
    – whether or not the current offering will meet the type of guest you plan to target for the business
  • What will you inherit from the previous business? Will it be helpful in meeting your vision or a hinderance?
    You should leave with an understanding of
    – what will and will not convey equipment, staff, menu, setup, systems, etc.
    – how to do a deep dive into what is on property and whether or not it is up to code
  • So now you own the property, what’s next?
    You will leave with an understanding of
    – meeting existing contractual events,
    – connecting with all service providers, distributors, etc.,
    – learning systems,
    – meeting with, understanding roles of and establishing new hierarchy with staff, and
    – learning existing menu, pricing, food preparation steps and method, and timeline of all tasks required for successful completion.
  • Now that you have survived the purchase and the first few months to a year, what options do you have for the future?
    You will leave with an understanding of
    – the importance of status quo and what you may consider changing during the status quo time and what can wait
    – how to deal with staffing challenges, such as those that come along but create a toxic environment
    – whether of not the F&B options you offer are profitable,
    – what you may consider adding and removing from offering
    – pricing and moving forward to meeting your dream F&B offering