Detroit’s Draft Week Success: Hotels Can Bank on Event Tourism by Working in Conjunction with Major Events
Cities hosting major sporting events unlock substantial revenue streams by positioning their hospitality sectors as essential partners in delivering memorable v
This story was produced through MarketScale. See how Hospitality teams put it to work with Executive Thought Leadership.
Key takeaways
Cities hosting major sporting events unlock substantial revenue streams by positioning their hospitality sectors as essential partners in delivering memorable v
During the NFL draft week in Detroit last month, the city achieved an unprecedented spike in hotel revenues, marking a significant milestone in its economic landscape. This surge is a reflection of a broader trend seen in other major cities during major events. It further demonstrates just how impactful event-driven tourism is on local businesses and the urban economy. Such opportunities help cities also solidify a name for themselves as a go-to locale for major events.
Event-driven tourism is significantly impactful on local businesses and the urban economy.
What does this record revenue mean for Detroit and cities like it?
Addressing this subject is Sarah Dandashy, renowned travel and hospitality expert. Dandashy examined event-driven tourism and how integrating local events can substantially benefit hotel industries, and by extension, the broader local economy.
Several points Dandashy raised were:
- Hotels must become deeply integrated with local events to maximize their revenue potential. This strategy not only boosts occupancy rates but also allows hotels to charge premium rates.
- Successful hotels often collaborate closely with local tourism boards. This partnership helps them stay informed about upcoming events and effectively position themselves in the market.
- By aligning with high-profile events, hotels can implement a premium pricing strategy. This approach is justified by the high demand during such occurrences.
- Hotels that are actively involved in the community and contribute to local events tend to attract more guests. This engagement enhances their reputation and visibility.
- Dandashy emphasizes the importance of catering to a wide range of events—from sports games to concerts—to ensure a steady influx of guests throughout the year.
Dandashy highlights the success seen in Detroit can be used as a blueprint for other cities and hoteliers to harness the power of event tourism.
About the author
With over 18 years of luxury hotel experience, I've been proud to work at some of the top hotels in the country--from The Peninsula, Four Seasons, Fairmont Hotels, and The London West Hollywood. For 15 of those years, I was a hotel concierge and part of the prestigious organization Les Clefs d'Or International. In 2015, I earned a special award from the organization created to help foster future generations of concierge, the title equivalent of "Best Young Concierge" in the world. My biggest lesson from being a concierge: you are as great as the team, colleagues, and connections that surround you. Hospitality is a team effort!
