While there’s no magic formula for launching new hotel brands, E = mc2 best suits some recent hotel concepts. That’s because the famous physics energy equation reflects new or planned properties and brands, namely Epiphany from Joie de Vivre Hospitality, Moxy from Marriott International and Curio collection from Hilton Worldwide.
Branding was a hot topic at NYU’s International Hospitality Industry Investment Conference this week in New York, where panelists weighed in on the degree-of-difficulty factor, the rationale for launching new offerings and repositioning legacy brands. Names do matter, but they’re only part of the picture. Below are key takeaways.
Creating new brands for the long-haul: “Brand building isn’t for wimps; it’s for the persistent and patient. Most brands grow slowly, and you need to think several years out, since you’re often signing 20-year licensing agreements”, said James Anhut, SVP of design and quality at IHG/InterContinental Hotels Group.
Big hotel companies still have an edge, noted David Kong, president and CEO of Best Western International. “It’s immensely difficult to start from scratch. But it’s easier for larger scale hotel companies to create smart brands that will appeal in the long run.”