Sunday Thoughts Digital Ease or Long Term Focus? In the hospitality business, things are always changing. The digital revolution has brought about new challenges and chances. Today, when we have to deal with the complicated online market, it's even more important to think about the long run. Especially when you think about how long-lasting relationships work and how appealing online providers are, who often have lower prices and can cut margins by a large amount. How travelers find, review, and book their trips has changed a lot since the Internet came along. Platforms that don't spend a lot of money can offer low prices, which often beat out traditional partners who have been investing in the area for years. This change needs a careful act of balancing. We should enjoy the wide reach and ease of use of online channels, but we shouldn't forget the importance of relationships that have been built over time. It's important to recognize that these long-term partners have had a big impact on shaping and promoting locations. Their efforts are more than just transactions; they are deeply woven into the local tourism ecosystem. As we plan our digital strategies, it's only fair to acknowledge these partners and keep them aware and involved. This is also good business sense and strategic thinking. But we also need to remember that the guest is the one who makes the final decision. People who travel today have more options and knowledge than ever before. Our goal should be to make sure that, even with all of these choices, they can easily and quickly get to our objective and services. To do this, you might need to take a hybrid method, where online visibility and traditional partnerships work well together. Giving up the old for the new is not what it means to adapt to the digital game. Instead, it's about finding a way to use the best parts of both worlds together. We want our guests to be able to find us through whichever channels they prefer, and we want to keep and value the relationships that have helped our destinations grow to where they are now. Finally, as we accept the digital transformation, let's do so with a plan that recognizes and includes the important things that our long-term partners have brought to the table. By finding this balance, we can build a long-term business that succeeds through both new ideas and loyal customers. The hotel industry is going digital, and long-term partnerships are being formed in the online travel market.
Konstantinos Santikos’ Post
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Sunday Thoughts From Hype, to Top Tier responsibility This summer has brought mixed results for Greek hospitality. Some places did well, while others struggled with high expectations. August in Athens, however, returned to normal, offering a sense of stability. Greece has gone from being a "hype" destination to a top-tier travel spot, and now it’s our job to live up to those expectations. The hype is gone, and guests are now comparing our prices with other destinations that offer the same sea and sun experience. This means that our prices must reflect not just our hotels, but the entire destination experience. What sets us apart isn’t just luxury hotels or beautiful beaches, it’s the authenticity of our culture. It's how we Greeks enjoy our islands and destinations, and that’s something no other place can replicate. If we focus on this genuine, local experience, we can beat the competition and keep Greece special in the eyes of our guests. As we move forward, let’s learn from this summer’s challenges and continue offering experiences that are real, authentic, and rooted in our culture. This will keep guests coming back and help us stand out, no matter what other destinations offer.
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Sunday Thoughts Timing Demand Hospitality isn't about creating demand, it's about timing demand at the right price. We often launch marketing campaigns or promotions to drive bookings. While these efforts can help, they rarely determine the overall success of a hotel. The key is to stay visible and relevant so we don’t miss out when demand for a destination spikes. For example, when an article or a movie features a destination, people head to Google and Booking .com, the Google of accommodations. If your hotel is overpriced, unavailable, or not visible, you'll miss out on the surge in demand. You might catch some overflow, but you'll miss the main wave of bookings. That's why it's crucial to balance fair pricing, strong visibility, and consistent availability. This mix ensures you can capitalize on demand spikes and secure the bulk of potential bookings. Of course like timing the market, timing the destination demand is not possible, at least its very difficult. Sometimes your main strategy and your actions during the less popular dates, is what differentiates you from the market.
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Booking.com can no longer enforce parity clauses thanks to the EU Digital Markets Act (DMA). I am confused here. So hoteliers can undersell? Why were we in dispute all these years? Are parity platforms obsolete or more necessary than ever?
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Sunday Thoughts Greek Hospitality at a Turning Point We are currently at a crucial turning point in Greek hospitality. Popular destinations like Mykonos and Santorini are beginning to feel the negative effects of overpricing and overtourism. While we are for tourists, it's clear that volume, quality, and high prices don't always go hand in hand. Now is the time to shift our focus. Greece should aim to be a country known for its authenticity, with products and experiences priced sensibly and sustainably for the long term. We need to resist the temptation of being money hungry and instead, be growth hungry. Our goal should be to create lasting memories for our guests, encouraging them to return year after year and create a brand. When we host guests, we should think about their experience and how to make it so special that they can't wait to come back. This means offering genuine experiences and fair pricing, not cheap, fair. By focusing on quality and authenticity, we can ensure sustainable growth and maintain Greece’s reputation as a top travel destination.
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Sunday Thoughts Peer Water Pressure Working with like-minded people is incredibly important. When everyone shares the same ethics, mentality, and goals, it makes everything run smoother and more efficiently. When you team up with people who think like you, you don't have to spend a lot of time explaining your decisions. Everyone understands why you're doing what you're doing, and you can all move in the same direction without confusion. Starting with a shared goal is crucial. It ensures that the organization doesn't get pulled in different directions, which can slow down progress. When everyone is on the same page, you avoid misunderstandings and save time. Innovation thrives in this environment because individuals can focus on taking actions that align with the common goals. There's less need for constant explanations and more room for creative thinking and problem-solving. In short, working with like-minded people creates a positive and productive atmosphere. It simplifies communication, boosts mutual understanding, and drives the organization forward with a clear, unified purpose. This synergy makes it easier to achieve your goals and fosters an innovative culture where everyone is empowered to contribute effectively.
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In the midst of the Greek residential boom, we, at ULI Greece & Cyprus, took a step back to see the bigger picture through our annual conference. - Fay Makantasi & LSE Professor Paul Cheshire set the mood with Greek & European data accordingly - Adamantia Phoca, MRICS, Evangelia Chrysikou PhD & Fay Makantasi under the moderation of Ioannis Orfanos commented on the findings and how demographics affect the real estate industry - Our Case Studies from Will Johnston & Thibault Weston Smith showed us the implementation of innovation towards solving current residential issues. - As always capital markets are the ones defining the trends. Under the moderation of Eri Mitsostergiou, our panelists Konstantinos Sotiropoulos & Pavlos Gennimatas, representing two major international players in the residential space, showed us where the money will take us. Thank you all for contributing and helping us create a conference with meaningful content!
🌟 What an incredible day at the Annual Conference of ULI Greece & Cyprus yesterday! That's a wrap! 🌟 A heartfelt thank you to all our distinguished speakers, enthusiastic attendees, and generous sponsors for making this event a resounding success. Your insights, participation, and support were truly invaluable. Special thanks to our speakers: Adamantia Phoca, MRICS, Eri Mitsostergiou, Evangelia Chrysikou PhD, Fay Makantasi, Ioannis Orfanos, Konstantinos Papadopoulos, Konstantinos Santikos, Konstantinos Sotiropoulos, Paul Cheshire, Pavlos Gennimatas, Thibault Weston Smith and Will Johnston And our Annual Sponsors, Event Sponsors, Media Partners and Supporters: 8G Capital Partners, ANICON. Sustainable Project & Construction Managers, Alpha Bank, Arbitrage Real Estate, DANOS GROUP | International Property Consultants & Valuers, Enterprise Greece SA, OTE Estate, COSTA NAVARINO Residences, Hines, Colliers, Cushman & Wakefield Proprius, Grivalia Management Company, REDS S.A., Santikos Collection, ered.gr - Greek Real Estate & Development Magazine, Association of Greek Valuers, ΕΛ.Ι.Ε., RICS, SBC GREECE (Sustainable Building Council Greece). The insights shared by our speakers were exceptional. We will be highlighting their key points over the coming weeks with more uploads for each session. With this post we share some highlights from the day! Looking forward to continuing these important conversations and collaborations. Let's keep building a better future together! #AnnualConference #Networking #RealEstate #Innovation #Collaboration
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We are thrilled to announce that Santikos Collection is a proud sponsor of the ULI Greece & Cyprus Annual Conference 2024! 🎉 Tomorrow, 28 May 2024 at the Grand Hyatt Athens, we explore the theme "From Boomers to Gen Z: How is Real Estate Responding to Demographic Trends?" 📊🏠 See you there! #ULIGreeceCyprus #RealEstate #Residential
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Sunday Thoughts Last minute correction This season in Skiathos, we've noticed a surprising trend: a significant number of last-minute bookings. This surge can be attributed to last-minute drops in flight prices, showcasing how flight costs can dramatically influence travel patterns, especially during the shoulder months in destinations dependent on package deals. When direct and independent flights from the same destinations compete, it creates healthy competition. This competition pressures airlines to lower prices, making travel more affordable for guests. As a result, hotel discounts can have a greater impact on the overall cost of a holiday, making it more appealing for potential visitors. A key question arises: why were flight prices so high to begin with? While I’m not in the airline industry, we as hoteliers often compare current pricing to previous years and an average of the past five years. This practice helps us avoid overpricing, especially following a record year. By understanding these patterns, we can better anticipate fluctuations in demand and adjust our pricing strategies accordingly. This season’s trend underscores the importance of monitoring flight prices closely, as they play a crucial role in shaping booking behaviors and overall travel affordability.
Boutique Hotel Strategy, Branding & Web | Creative Director at Studio Circa
10moOur approach is to leverage aggregators as search mechanisms, but ideally lead to your website to discover more. A well crafted site, messaging, and connecting to your guest emotionally and building trust should lead to the direct booking, especially that many travellers are more aware of their the impact they can have by supporting the business directly along with their local community post covid. Aggregators are a part of the game, but our aim is to divert traffic from them to the brands directly, which aids in the relationship building you mentioned, higher margins, and longer business sustainability.