Hello everyone on Huzza on facebook on periscope on down on Dasher and Blitzen where multi casting from everywhere i am your host Loren Gray for This Week in hospitality Digital Marketing with my ever-present , --> , co-host mr. Robert Cole from RockCheetah hello , --> , mr. robert how are you doing Loren I am , --> , good I I actually feel good about the , --> , technology today I i got everything , --> , kicked off and redone and synchronize , --> , just like synchronized swimming I have , --> , all three players starting at the same , --> , time Im feeling like Im getting this , --> , somewhere close to being controllable , --> , which is good after months one would , --> , hope that would eventually occur up up , --> , unfortunately the pain is the truth , --> , right exactly how was your weekend so , --> , far good i have been keeping busy , --> , most certainly so excellent excellent , --> , excellent ive had a fun fun week myself , --> , recapitalization from I understand , --> , its always best to or out cuz im doing , --> , the translations now on the show so that , --> , the text box runs on the bottom of this , --> , show and it says that in order to get in , --> , a good first capture people watching on , --> , facebook live talk about what the show , --> , is about first so that it texts that at , --> , the beginning so people wont want to , --> , continue to watch excellent so I todays , --> , recap is were going to talk about fun , --> , whatever that we want to on anything we , --> , want to talk about for whatever we want , --> , to talk about four , --> , no actually we talk about tools news and , --> , techniques associated with hospitality , --> , digital marketing only for hospitality , --> , digital marketing and we keep ourselves , --> , focused on that and to that end I send a , --> , whole Pandoras box of news features out , --> , this week and i also have a tool i want , --> , to share that I talked about on last , --> , weeks podcast which is a to make simple , --> , graphs and if we remove that will talk a , --> , little bit about it but its a way to , --> , make one for free which is always the , --> , best price tag to have if you like , --> , playing with that kind of stuff it gives , --> , you some interesting visualization tools , --> , for everything , --> , are they anything like Cinnabon , --> , I wish they were that good I would do i , --> , wish to thank you but no no this is this , --> , is a bowl talk about I want to keep it , --> , as a surprise is actually really cool , --> , tool because if you ever had was here , --> , mr. sandwich from flip to you just were , --> , only his eyes like dont let the masses , --> , have the tools they dont know what to , --> , do with the spaceship have a , --> , professional fly it you know and im , --> , kinda like no give me the keys but can , --> , they do they can just record what could , --> , go wrong , --> , yeah possibly could go wrong you seem , --> , like youre just my camera a little bit , --> , so its not and its a little bit of an , --> , echo always there okay lets see what i , --> , have on that still around i might , --> , because im doing the podcast via the , --> , live show on the same computer doing , --> , facebook on the same computer that were , --> , doing the house of presentation because , --> , that pairs well with the other one it , --> , might be causing it back audio how bad , --> , is it , --> , well lets see its about a one second , --> , too late for me okay Im not here , --> , youtube and is because Im doing all , --> , the talking right , --> , ok so I actually threw into the agenda , --> , item something that was for mr. Peter , --> , who apparently has decided that he cant , --> , join us actually mentioned last week , --> , until I think until or something like , --> , that so thank you very a little bit , --> , little bit late , --> , ok ok well we could save his still top , --> , of amazon go till he gets with us , --> , because uh that the key , --> , oh my gosh his podcast he he interrupted , --> , his normal broadcast which was a series , --> , on content development simply to over , --> , and talk about Amazon go and how he , --> , thinks thats the best thing since , --> , sliced bread , --> , yes and IMA for any way that doesnt , --> , know mr. Peters with computer , --> , associate he does a podcast i do pockets , --> , hes on episode im on episode , --> , actually are but I did have a podcast , --> , before me so i get to create to rub that , --> , I remember was well but if you got a , --> , week you can catch up really quick , --> , thats true because mom just what i need , --> , more fun time doing live shows yeah Eric , --> , hey by the way Eric thank you again for , --> , joining us as always and we never got a , --> , chance to talk when the fetus together , --> , do you feel like you want to join the , --> , show for a little you want to point your , --> , camera that means is we are waiting for , --> , him anyway we could always use a third , --> , pretty face , --> , or beliefs one pretty face and the rest , --> , of us bus did that the other thing is , --> , that you probably didnt see I add , --> , another topic with some morgan stanley , --> , research on airbnb which is very very , --> , insightful stuff do you want to wait , --> , until we have another on eid the , --> , participant in our conversation or do , --> , you want to throw that up first so we , --> , might as well throw it out first so , --> , lets do that , --> , its big stuff ok so and work Morgan , --> , Stanley obviously tracks a lot of equity , --> , is a real does a lot of equity research , --> , so they follow Internet stocks of which , --> , Airbnb would certainly follow fall into , --> , that as well as expedias priceline , --> , online travel agencies they also follow , --> , hospitality shares like marriott hilton , --> , as well as real estate investment trust , --> , so this this particular one was focusing , --> , on a tracking study that theyre doing , --> , on Airbnb and basically whose Airbnb , --> , impacting so some very very interesting , --> , these guys are asking absolutely the , --> , right questions which I really wish I , --> , gotta go talk to focus right guys about , --> , housing these sorts of questions on a , --> , tracking skills across all of a larger , --> , span of a of the industry but ok so , --> , starts off with traveler penetration , --> , last year when they did the study Airbnb , --> , had twelve percent basically twelve , --> , percent of leisure travelers and twelve , --> , percent of business travelers had tried , --> , Airbnb on this year its now and Im , --> , sorry and % nineteen percent of , --> , leisure travelers and eighteen percent , --> , of of business travelers have used , --> , Airbnb at least once so thats a pretty , --> , dramatic jump a lot in terms of , --> , penetration in one year than they , --> , expected to rise for both groups next , --> , year to twenty-five percent for leisure , --> , and twenty-three percent for business so , --> , thats a doubling of you see now again , --> , thats within two years thats , --> , astronomical growth even an identity for , --> , my program , --> , right right so that and again this isnt , --> , just go were adding a bunch of units , --> , out there in boise areas or honest berg , --> , this is people who have tried it at , --> , least once , --> , ok so you go wow and on the business , --> , side notice business is very close , --> , yes leisure is outpacing it but i think , --> , if you ask most hoteliers what it would , --> , be that say oh its all leisure theres , --> , no business no its right now its about , --> , yes leisure will outpace a little , --> , bit but its still still still pretty , --> , dramatic , --> , now the other question though its ok , --> , lets people who have tried it , --> , what about awareness right so last year , --> , awareness of Airbnb was fifty percent , --> , this year , --> , awareness is seventy-five percent wow ok , --> , why dont you just read everybody knows , --> , a great square that just joined us as , --> , Erica door but I dont think eric has a , --> , camera or at least the cameras on air , --> , can years , --> , yes yes I can excellent Eric thanks for , --> , joining us at last Im sorry mom , --> , probably probably kind of video , --> , yeah okay yeah most excellent rabbit im , --> , sorry i dont exactly thats a thought , --> , Lord you know perhaps if we lost the , --> , video maybe viewership would go up , --> , I dont know but actually got maybe , --> , maybe later you actually but ok now , --> , well ask this consensus is a question , --> , of do this on the posting as well I was , --> , the most splintering the audio of our , --> , show off now I do a podcast every week , --> , already , --> , I try to keep it about minutes max , --> , minutes and there is a recap of the show , --> , in there and I just kind of hit the , --> , highlights of our conversations and , --> , after I do them in the minute notes for , --> , the show but I just didnt think there , --> , would be people who want to listen to an , --> , hour and a half two hours our of the , --> , audio but if you know who knows because , --> , it is a fun ue between people , --> , might want to listen to it in the , --> , background who knows i love and people , --> , as everybody has an opinion about it , --> , errors included please let me know , --> , because its easy enough to split off , --> , and not go into podcasts and making , --> , parallel so everybody okay well back to , --> , the morgan stanley stats so we talked , --> , about penetration so penetration is up , --> , in terms of actual usage or experience , --> , with the product , --> , awareness is up you know fifty fifty , --> , percent higher the last year up to , --> , seventy-five percent of people are now , --> , aware of it and then the big question is , --> , user satisfaction , --> , well last year it was ninety percent , --> , which is pretty pretty damn good this , --> , year again okay you you have to imagine , --> , the numbers are going up more people are , --> , using it so you can imagine ok maybe the , --> , shine is starting to wear off a little , --> , bit , --> , no satisfactions up to ninety three , --> , percent now , --> , wow I dont know last week for those are , --> , pretty powerful pretty powerful trends , --> , huge trends now last week we didnt get , --> , to any of the news features that we had , --> , thrown into the queue because we had our , --> , time without a couple of all today for , --> , today is updating the one of the , --> , articles was about what Airbnb grand , --> , strategy is and i was asked if article , --> , and I had just reached viewed in the , --> , podcast and it really is a scary , --> , perspective of Airbnb and in the larger , --> , grand scale first youll be think that , --> , like Derek was saying first was no big , --> , surprise that theyre getting into the , --> , tour operator space and the answer for , --> , services and makes sense because theyre , --> , trying to create that that connection of , --> , destination value proposition but then , --> , it kind of bread and monetization for , --> , the hosts yes I monetization for the , --> , most yes and that but then it did raise , --> , eyebrows when they get into the car , --> , rental airline rental our Airlines sales , --> , space because then now what youre , --> , talking about is is this a new breed of , --> , OTA are they looking to be instead of , --> , the provider of going to someplace the , --> , provider getting over being there but , --> , you know what kind of got it of reverse , --> , of the perspective of saying we provide , --> , all that you need within one echo system , --> , from the from from from our platform , --> , rather than you having to rediscover and , --> , discover what all connections you need , --> , to create this process , --> , Eric we have been talking over this , --> , entire time we had the pleasure finally , --> , to get you on the show with us please , --> , you but would you feel about all this , --> , cuz that were gonna throw some things , --> , around on tonight i think its a its , --> , difficult to impact it starting impact , --> , Phoenix more than I had before it was , --> , you know big city centric I thought but , --> , recently im here more and more are here , --> , in the valley this on and , --> , in smaller areas like even denver and , --> , such that it starts on the ripple , --> , through now down to the you know tier , --> , two tier three cities and other people , --> , who dont know Eric door is based on , --> , feelings he is the president of the hdmi , --> , chapter out of Phoenix which had the , --> , pleasure of joining what has it been now , --> , about a few weeks ago for - weeks ago , --> , we got to see him briefly you were busy , --> , man you you were there but then you , --> , disappeared you take up so were going , --> , to have with you after all the time we , --> , got to spend on the show together and , --> , you dont get on with it that flew out , --> , and Ill be proud to announce ill be , --> , joining the team from mentality writing , --> , in his backyard in orlando tality mobile , --> , tablet joining Greg Hopkins and and , --> , jennifer and on and team over there i , --> , start on the so i had to fly out for , --> , for that in and begin the interview , --> , process and easy to say it worked out , --> , and and i started a couple weeks so , --> , excited to kind of take it for you know , --> , take the next several years with , --> , intelligence so actually a great team , --> , and Gregs are really smart guide , --> , oh yeah did I dont know what his last , --> , adventures question to ask if you ever , --> , lived in florida before or tropical , --> , tropical temperature thing you know , --> , where to I no no Im im used to draw , --> , heat and so but i have family in the , --> , tampa area but now Ive never never , --> , never lived there but look if you wont , --> , have to check your shoes for scorpions , --> , but you might check the backyard for , --> , gamers it i was just thinking about all , --> , the different artifacts story thats , --> , only always worried about the different , --> , perfect because for me I was like in the , --> , toy store when I was going through , --> , amarillo which of course is not on , --> , Phoenix but the same day or temperate , --> , when it was super dry super hot , --> , I was trying to put the squeegee on the , --> , windshield and i was i was just like a , --> , kid because as Im putting the water on , --> , the windshield its so dry was , --> , evaporating before i can flip it over to , --> , do the squeegee which doesnt happen in , --> , florida for is usually like youre part , --> , of the squeegee you need the wipers on , --> , all the time to get it all the time , --> , board so this curious about it anyway I , --> , well very good day one at last , --> , comment on that is we had overall , --> , consensus from art , --> , after we just had the leadership retreat , --> , here in Arizona but one of the , --> , innovative ideas that we can have come , --> , up with and we need to kind of put some , --> , thought to it is bringing the black , --> , caste and and this weekend hospitality , --> , digital marketing alive but streaming , --> , from our chapter potentially if , --> , everywhere March timeframe and so work , --> , out the details but would love to have , --> , you all you know three or four you and , --> , and maybe Holly kid uh you know moderate , --> , or something like that since shes out , --> , there and well figure out the details , --> , but Im look well be coming back at you , --> , for potentially bringing the show on the , --> , road , --> , so although although if we do that Holly , --> , will have to stay backstage the way she , --> , always does he know shes the queen of , --> , fact checking if anybody can max how he , --> , ever does it , --> , shes the one that keeps us straight in , --> , line we know we do not go off at taking , --> , place with her right now hotels are , --> , going to run full next year although , --> , they are sorry but yes and actually , --> , where they just know there are some , --> , other editions with HSN is getting on , --> , more bored with our show uh were going , --> , to have scheduled participation from all , --> , of the board and council members over , --> , the course of the upcoming season , --> , where we will actually have revenue , --> , council or revenue for come on for , --> , revenue session where they might be two , --> , or three of them cuz i guess they want , --> , to have strength in numbers and also to , --> , for marketing institute from sales and , --> , of course the digital council so forth , --> , so we actually have scheduled , --> , participation because I kind of was , --> , stomping my feet a lot that we do this , --> , for the proud of the purpose of , --> , improving HSN the eyes content yet very , --> , its very challenging a lot of , --> , participation from the boards accounts , --> , course theyre there theyre busy people , --> , and its easy its an additional effort , --> , to try to be on the show and take the , --> , time to do it but it looks like were , --> , gonna get that and theyre gonna start , --> , featuring this more in their newsletters , --> , and on were going to get our own , --> , webpage on the SMS I great little yeah , --> , and now we might prevent to we might try , --> , to the road in Erica for working will do , --> , Phoenix first guaranteed phoenix right , --> , when ideas have was we wanted , --> , chapters to be able to join in where we , --> , can have a camera facing the whole , --> , chapter and they participate in the , --> , process so outstanding but you guys , --> , thought of that and that would be , --> , able to do that with your that be , --> , awesome excellent thank you , --> , why we have a bunch of people on , --> , periscope holy crap sorry Leslie is not , --> , getting all these little heart see , --> , things on periscope and were doing , --> , pretty good weekend , --> , nice well ok back to Morgan Stanley , --> , because theres nowhere you back at the , --> , ranch with Grandma be nothing but still , --> , Im still trying to get this thing down , --> , to an airlord your luck with that , --> , thats all ok just to recap where where , --> , we left off was seventy-five percent of , --> , the people now are aware of Airbnb , --> , -percent of them have actually tried , --> , it and of those who tried at , --> , ninety-three percent really like it so , --> , pretty pretty daunting numbers but then , --> , the next obvious question as well so , --> , people who whos losing if Airbnb is , --> , winning big right wall , --> , forty-nine percent of Airbnb users are , --> , substituting away from traditional , --> , hotels and that is up basis points , --> , from last year so the guys and and yes , --> , Airbnb has done the kind of hey we are a , --> , competitor dont yell nothing to worry , --> , about here these are not the droids , --> , youre looking for , --> , which is exactly what travelocity did , --> , when they started ill never forget , --> , Terry Jones standing up in front of one , --> , of the last saber world conferences , --> , which was this massive trade show your , --> , raw session that saber would help and , --> , and with a straight face basically tall , --> , travel agents at travelocity was not a , --> , competitor currently without was pretty , --> , gutsy and and they bought it you know , --> , sort of thing which are highly political , --> , system will buy anything these days , --> , yes exam so this is not a new thats not , --> , the approach on this stall while still , --> , small heres the assessment we believed , --> , Aaron B has been almost double the , --> , threat to hotels in than previously , --> , believed and the threat is growing , --> , so notice that is designated market so I , --> , mean thats been part of the argument is , --> , that the the real Airbnb thread is not , --> , just it doesnt global are not general , --> , its a specific markets and its a , --> , specific seasonality is a demand is that , --> , is that the smoking mirrors and even , --> , thrown up , --> , yes and no I would say youve got to , --> , look at Airbnb the same way that you , --> , look at the quote millennial market you , --> , know everything all youve got a market , --> , to Millennials do it well that is its , --> , turning out most people kind of realized , --> , yes Millennials are a little bit , --> , different than the older generations , --> , things like that but everybody pretty , --> , much wants the same sort of thing yes , --> , Millennials were the first ones , --> , certainly on facebook but now certainly , --> , boomers not sort of thing of adopted , --> , facebook and rose are actually , --> , Millennials and maybe even fallen off a , --> , little bit on the platform so there , --> , early adopters and so with Airbnb , --> , something like that its what early , --> , adopters want what Airbnb is providing , --> , our authentic unique travel experiences , --> , where you have a high degree of , --> , hospitality which means host-guest , --> , engagement which is going back to the , --> , the fundamental underpinnings of of , --> , hospitality itself and most of that , --> , really came from after they hired chip , --> , conley who really gave them the , --> , hospitality focus the other thing you , --> , mentioned was going into other sorts of , --> , things and diversified very very smart , --> , strategic move for audience for Airbnb , --> , expedia had their partner conference , --> , this week and in Las Vegas and what did , --> , they come out with some research which , --> , was the oh shit moment youve seen it on , --> , paper going , --> , while people travel for experiences and , --> , doing things in the destination , --> , who knew it sits like right now the , --> , hotel people are not traveling across , --> , the country to stay at the super eight , --> , at the north end of dfw airport as nice , --> , as the property maybe I never stayed , --> , there but you know thats not exactly , --> , that theyre traveling there for some , --> , other reason and they need a place to , --> , stay right so , --> , as we said on the last show my my big , --> , point now is the differentiation of , --> , hotels and the ability to get you know , --> , premiums in terms of rough part in terms , --> , of higher occupancies in terms of , --> , Greater ADR comes from how far you want , --> , to differentiate yourself from a lodging , --> , mini storage warehouse thing you can , --> , just put people in there overnight and , --> , do like yes we are still were doing , --> , providing temporary shelter for you to , --> , work really providing a great experience , --> , in helping your travel be better and , --> , more memorable and just generally having , --> , a greater sort of time so Im just we , --> , dont get the privilege of having your , --> , presence so much on this what you think , --> , one of them i was just one thought that , --> , just came to mind was I i know from , --> , seeing on a couple of the conferences , --> , that theyre there are some free tools , --> , and reporting or some tools out there , --> , and I dont know exactly how to achieve , --> , them but now perhaps we can we can post , --> , a link there theres you know area by , --> , area reporting for me thats no helpful , --> , support on you know for those Hotel , --> , yours and and venues at a want to really , --> , get a good sense of what whats whats , --> , happening out there but im sure you , --> , guys may have talked about this in the , --> , end past cast before I dont know we , --> , happen to be a bad thing to go doing , --> , backup we we threw some links up this , --> , goes back a few months where we throw up , --> , some Airbnb track links word each other , --> , be mandatory market and and what the , --> , actual inventory was based on type and , --> , uh pricewaterhouse did some stuff with , --> , that for a while to I think Robert that , --> , they big debate some tool functions on , --> , that uh you know that Im a good ones , --> , air DNA which is around i mercy oh , --> , theyre pretty much later i will i will , --> , post the link managers to give it that , --> , mean this is that the fingertips me and , --> , youre like oh crap unless you know that , --> , when Im gonna dignify ok so now and , --> , they have they have some good data that , --> , but still the problem for that is with , --> , Airbnb you have dynamic supply so you , --> , can look at of like whats going on , --> , right now but and Airbnb is being much , --> , better at providing better tools for for , --> , the hosts , --> , similar to away at expedia with on the , --> , other their partner center really helped , --> , hotels understand what was going on I , --> , mean it was revolutionary when Im , --> , expedia started producing reports the , --> , hotel ears could go into and go oh , --> , heres how I stack up in the sort order , --> , damn mind my rates are too high , --> , well what did that do have an immediate , --> , effect that these hotels trying to boost , --> , themselves lowering rates and doing , --> , exactly what you expect youre gonna , --> , want you to do to generate more , --> , businesses provide better value for the , --> , traveler and then it the selling part , --> , sees I said love no doubt head while he , --> , was out doing this debacle in expedia , --> , land and buying is this past week I want , --> , to find out more about Rev plus its an , --> , open platform of revenue management , --> , tools now tell you that goes beyond just , --> , the optimization of your internet , --> , relationship with experience this , --> , actually you can do revenue management , --> , on all channels with them and Im really , --> , curious whether its just reporting tool , --> , but not a functional connectivity or is , --> , it in for also providing connectivity , --> , chance because the best case management , --> , land administration connectivity and and , --> , that opens up a whole nother realm of , --> , holy crap of experience starts , --> , regulating that and having the data , --> , format that changes the game landscape , --> , for them as well so well ill tell you a , --> , little story from Woody from years , --> , ago , --> , oh wait was this committee is this when , --> , you were four seasons , --> , no it wasnt nobody just after you left , --> , cornell you left cornell wasnt it was , --> , well after both sorry box for those who , --> , are new to the show we always have to , --> , mention seasons in cornell everybodys , --> , like a shot game would go were not , --> , drinking but but some watching maybe , --> , shot im so so in well about years , --> , did it in around nineteen ninety seven , --> , ish we put together a strategy for for , --> , saver which unfortunately wasnt adopted , --> , due to the know i can send now the , --> , ignorance of the CEO at the time who , --> , master-release didnt really think , --> , hotels were that big thing , --> , who , --> , yeah yeah I do think that the the , --> , brothers were doing quite well with , --> , their search engine either background , --> , yeah yeah so on but in at this point in , --> , time we were looking at certain , --> , acquisitions things like that and one of , --> , the things we looked at was Pegasus and , --> , we did a fairly deep dive and i , --> , discovered we did not want to buy it , --> , because theyre only doing about , --> , million dollars a year in sales from the , --> , switch itself and vast majority of their , --> , revenues were coming from Commission , --> , collection now sort of thing so Im , --> , didnt like didnt like that business , --> , model so but what we just what we were , --> , going to do was not going to look too , --> , many of the details but vertically , --> , integrate the GDS platform thats saber , --> , had very robust and fast and reliable , --> , which did not have really any database , --> , to speak of was very very poor so we , --> , actually wound up doing a deal Hyatt and , --> , their spirit central system nice , --> , unix-based database to kind of handle , --> , the crs level that never really got , --> , developed although that deal was done , --> , and then third was to acquire property , --> , management systems to vertically , --> , integrated we looked at acquiring a , --> , micro stelio which we could have gotten , --> , at that time for about a tenth of the , --> , cost the Oracle on pay for but didnt , --> , didnt wind up doing that that cash , --> , registers things like that so basically , --> , vertically integrate that but the , --> , strategy was as you bring up metasearch , --> , we didnt certainly didnt call it many , --> , search then was we felt if we could , --> , vertically integrate that and get the , --> , core data of the hotel the true deep , --> , rates and inventory that then we would , --> , provide if you have access to that then , --> , you can share it to others for free you , --> , dont charge them because thats your , --> , data and/or you have kind of fur trim , --> , off first usage of that and you know the , --> , core deep information if you expose that , --> , thats great and then all of a sudden , --> , boom Pegasus winds up becoming , --> , completely inconsequential because why , --> , would you pay them to do you guys you , --> , just put your stuff and saber and it , --> , goes out everywhere , --> , get dominators giving out which people , --> , thought was oh my god we would never , --> , want to give them the information like , --> , oh no its your information you control , --> , and youre the point where theyre , --> , loading it and you are part of the DNA , --> , of that that hotel then hey you you win , --> , so fast forward years , --> , whats expedia do him whats booking.com , --> , doing what are a variety of the group , --> , stood there trying to become part of , --> , that underlying DNA either by providing , --> , web sites by providing revenue , --> , management tools , --> , the key is how do you get that , --> , underlying core data the deep you know , --> , the deep web content which drives all of , --> , those web pages the core unit by unit , --> , room category rate plan type stuff that , --> , drives the industry , --> , how do you get access to that and hes , --> , gonna have it on your platform natively , --> , than everybody wins , --> , say goodbye to the great barbecue , --> , leaving us okay bring a lot of good haha , --> , hey listen thanks for company for the , --> , time that you had no problem first yeah , --> , yeah Im gonna be ill be back for sure , --> , Im get that new laptop here in a week , --> , and I appreciate the time you guys are , --> , all stay on listening but the Phantom , --> , the Phantom remains the greenboxes you , --> , leave , --> , yeah well and Robert keep on pluggin man , --> , i love it if you consider if youre , --> , considering buying a new laptop oh no , --> , im sorry mr. gus I think hes going to , --> , look because of his new community I , --> , think hes gonna be okay guys oh and , --> , soon as you got extra soft surface the , --> , surface book is very cool very welcome , --> , to this week in hospitality marketing , --> , and harder but what I but the body by , --> , our last sponsored by groups who arent , --> , paying us grab onto your vegas that , --> , brings up to other aspects of this new , --> , items news items that we didnt get to , --> , last week that can carry easily over to , --> , this week as well which was see trips , --> , purchase skyscanner well which we didnt , --> , talk much about me right , --> , and of course our Airbnb settling its , --> , New York lawsuit and ill try to be , --> , putting pretty nice with the , --> , hey you know where were here to support , --> , cities were not to over and take money , --> , out of your pocket were happy to talk , --> , about taxes and other stuff to , --> , legitimize their relationship with the , --> , cities that we should we can just lets , --> , just cover that one real quick , --> , I mean thats inevitable and theyre , --> , being has realized that thats been , --> , inevitable for months , --> , I dont know so yes they they want to , --> , they want to pay hotel taxes when it is , --> , a full unit rental and its be and that , --> , unit is behaving like a hotel and thats , --> , great and they want people to be safe , --> , and no they dont want to have all of , --> , the various rules that apply to hotels , --> , apply to a persons individual apartment , --> , because thats nonsensical right and , --> , then thats certainly been where a lot , --> , of lobbying by hla and some really , --> , ridiculous counterproductive stuff has , --> , been has been going on so now if you , --> , just take a rational approach to it , --> , thats good thats good and you even , --> , look at what some of the cities are , --> , doing , --> , I cant remember who it might be new , --> , york it was Boston camera read an , --> , article that they want to take the the , --> , fines and then allocate that to , --> , affordable housing right so the people , --> , who cheat , --> , yeah basically put in apps the real key , --> , for Airbnb success is to really be , --> , conscious of undermining affordable , --> , housing in these cities because that is , --> , their Achilles heel if they kill these , --> , communities and these cool little , --> , neighborhoods by turning them all into , --> , glossy hotels then you basically , --> , destroyed the cool cool think of why why , --> , you should exist right and I dont I , --> , really dont think those guys are are , --> , looking at this is a short-term lets , --> , wrap this thing up and exit make afford , --> , I think theyre really looking at this , --> , is a movement this is highly disruptive , --> , how do we do this and not screw you , --> , screw things up in the product again he , --> , goes back to an underlying conversation , --> , i had with some clients that are in the , --> , limited service filled with service , --> , hotel field and so forth they feel that , --> , Airbnb is is , --> , nothing for them to be concerned with , --> , and its a destination based interest , --> , that people are using their beer for the , --> , exponential im traveling to enjoy , --> , myself its leisure based I want to , --> , experience things im not there for , --> , functionality and and in the contrary is , --> , very true its like no dude wake up , --> , this is you if you think youre a little , --> , factory of you know heads in beds and , --> , rates and and occupancies thats exactly , --> , what Airbnb can provide as well as the , --> , glass to place to imagine i needed to be , --> , in very reasonable location reasonable , --> , cost even a better location , --> , yeah right because you cannot sink into , --> , the department right yes right and and , --> , well and when I was all bring up another , --> , old company journeys end , --> , yes with what we did very radically in , --> , was we built a unit property , --> , about a block from the new york public , --> , library so its fortieth and fifth avenue , --> , very tall slender cower on us small , --> , portion of land of the carlyle group , --> , project it was great we made front page , --> , of the New York Times you know sunday , --> , real estate section because it was , --> , brand-new construction at that time we , --> , opened up a hundred and five bucks a , --> , night sort of thing it was really cheap , --> , it was new it was a great its now the , --> , courtyard , --> , its the AmeriCorps and I believe ok , --> , down there so its a great little , --> , property but it was really inexpensive , --> , because we were stacking motel units , --> , vertically in urban locations , --> , yeah and you know people didnt really , --> , do that before but it was it was it made , --> , a lot of a lot of sense but for all , --> , those economy properties it doesnt , --> , matter if youre out at the airport , --> , wherever you need to be very concerned , --> , about Airbnb because it depends on if , --> , your are you a first fill property or , --> , you somewhere in the middle or you down , --> , at the longtail somewhere and if Airbnb , --> , is yell siphoning off demand those full , --> , meal full days are going to be fewer the , --> , stat oh boy I dont know if I have the , --> , stat l Scott Galloway had a great had a , --> , great statistics on the number of sold , --> , out dates , --> , for hotels or kind of piqued occupancy , --> , periods and I dont have the underlying , --> , on that but anyway this year down , --> , dramatically versus last year and that , --> , is not a good indicator for the hotel , --> , industry because this years occupant , --> , Caesar are a little bit off of last year , --> , not much i mean were talking maybe a , --> , less than a point but that plateauing of , --> , kind of maximum occupancy when you start , --> , getting around the seventy percent mark , --> , thats a problem so all the sudden , --> , youre going wait a second those peaks , --> , where we could really have some nice , --> , aggressive yell rate grow things like , --> , those are disappearing right so you , --> , shaved off the top and andy and lea and , --> , the even a the bottom line lesson on the , --> , morgan stanley thing is that they their , --> , forecast because of this this research , --> , is that theyre low in lowering their , --> , lodging even estimates by one two three , --> , percent and the price targets , --> , accordingly for their stock so all of a , --> , sudden if youre takin no one to three , --> , percent off of the bottom line of hotel , --> , profitability in a period where you have , --> , record rest part all time historically , --> , high rev pars it is , --> , watch out for the next downturn now , --> , because its gonna get ugly real fast as , --> , in your deeper because theyre not but , --> , within this and this goes back to , --> , marketing strategies as Im building , --> , them for some clients to support for , --> , theyre blind eyeing the the impact of , --> , what market strategy they have for this , --> , dilution of demand cycle that they well , --> , theres mr. Tim hey fellows our I had , --> , them we saved your ear of your your , --> , trail your your favorite topic for when , --> , you got here which is the Amazon go , --> , which I know you you you change your , --> , entire broadcasting program for your , --> , podcast simply because you were so , --> , excited about you have corrupted entire , --> , series but i like so we talked about , --> , Morgan Stanley I dont Robin had some , --> , great stats I mean he wrote were all , --> , recap very very quickly so Morgan , --> , Stanley stats on airbnb theyve been , --> , doing tracking your over here so started , --> , off that with awareness of Airbnb last , --> , year was fifty percent this year is , --> , seven , --> , eighty-five percent how many people have , --> , used Airbnb last year was about twelve , --> , percent and equally split both , --> , leisure and business channel seven , --> , percent actually used that on this year , --> , up to nineteen eighteen percent which is , --> , a pretty dramatic growth next year , --> , forecast to be and twenty-three , --> , percent while actual thats usage at , --> , least once , --> , right so thats actually trying the , --> , product so i have a question about that , --> , specifically and I dont know if this is , --> , clear the data Ive not seen this data , --> , before but are these of people who are , --> , frequent travelers these people who are , --> , travelers is this of being you know a , --> , representative Tommy ill have to look , --> , at this sample on i think its general , --> , travelers I general travelers ok ok , --> , theres so so then you go too well , --> , whats the satisfaction obviously usage , --> , is increasing things like that so last , --> , year on the satisfactions ninety percent , --> , which is pretty damn high terrible know , --> , and with all this growth you know i , --> , think i would assume well its going to , --> , drop off a little bit because you have , --> , people trying to go out its not for me , --> , no its % so its going up up up and , --> , write so well they are and then the , --> , question is whos this coming from and , --> , they said Oh what do you know , --> , forty-nine percent of Airbnb users are , --> , substituting away from traditional , --> , hotels up basis points from last , --> , year im im shocked shocked to hear , --> , those numbers , --> , yeah yeah here youre with sir thank you , --> , exactly so this over all sorts of thing , --> , is that updated room analysis Airbnb , --> , proves to be a tips drag on rough , --> , par in and thats more than they , --> , thought it was going to be basis , --> , points you last year so its almost more , --> , than double right or its the eighty , --> , percent more more impact so the bottom , --> , line is there even is , --> , thats for hotels are down one two three , --> , percent and their price type theyre , --> , going on this is a direct hit on EBITDA , --> , and so thats you know and and oh sorry , --> , Lauren we didnt cover off how does this , --> , hurt who does this hurt yes it hurts , --> , hotels so theyre saying underweight , --> , groups like IHG and what are they , --> , overweight priceline because this is not , --> , in the acting OTAs at all really , --> , maybe helping them has been saying oh , --> , come on oh yeah this whole direct thing , --> , yeah go ahead you guys have fun with , --> , that , --> , yeah yeah so again the OTA channel ok , --> , OTA user penetrated again this is just , --> , such great great stats are too geeked , --> , out a little bit here but OTA user , --> , prenta tration is it % now its going , --> , to fall a little bit they think it will , --> , fall to maybe fifty four percent you , --> , know that that sort of thing but this is , --> , far better than expectations of users , --> , using hotel websites right now its , --> , -percent penetration right so about , --> , the same as OTA expected to fall to , --> , -percent to were gonna have to ask , --> , you to let the the show because my , --> , periscope the audience went down since , --> , you joined sorry its just oh sorry okay , --> , that hurt , --> , it always does backup freaky you know , --> , probably get again as Ive been told , --> , many times well i need freddie you dont , --> , know but it , --> , yeah okay the last just a couple more , --> , steps guys I know youre tending to , --> , wonder here but this is this is , --> , critically depressing stuff for the , --> , hotel so then the other step and of , --> , course masks all the hotels going hey , --> , things are coming online and this is , --> , great look at our online penetration the , --> , hotel call and walk in demand was , --> , thirty-four percent thats expected to , --> , fall to twenty-six percent so when you , --> , have a drop like that yeah , --> , the people are walking in they arent , --> , using the call center but where they , --> , going yes theyre going online so thats , --> , kind of artificially got Hey look at , --> , whats happening without , --> , those arent new travelers those are , --> , just the same guys coming through a more , --> , efficient channel which is great i mean , --> , thats thats a good thing but really , --> , different than whats happening with the , --> , center so it went from % to , --> , cents a big oh well , --> , so anyway they said basically the OTA , --> , channels are are resilient second the , --> , OTAs are continuing to build out their , --> , non hotel inventory which they think , --> , that that actually gives them maybe an , --> , advantage over Airbnb because if you , --> , have all the stuff then its like well , --> , good i can go there because just going , --> , to give me this and then I got to go , --> , hotels just for that , --> , lets go ta get both and then third the , --> , search marketing expertise and sheer add , --> , dollar spend which is about billion , --> , dollars is a difficult barrier for , --> , anybody including Airbnb to just you , --> , know take over so basically theyre , --> , there overweighting the bottom line of , --> , this is their overweighting groups like , --> , Priceline theyre under waiting the , --> , hotel brands so back last well i think , --> , yeah and they had they havent they , --> , havent really come out i mean last , --> , summer they were kind of like we dont , --> , know theres a thirty-three percent , --> , chance that the OTAs when theres a , --> , thirty-three percent chance the hotels , --> , when theres a thirty-three percent , --> , chance theres a price war and then all , --> , hell breaks loose , --> , they dont they didnt really know um I , --> , think theyre starting to figure it out , --> , as we might never mention earlier that , --> , when this this downturn happens as , --> , inevitably as we discussed it does its , --> , gonna go fast its going to hard and , --> , theres gonna be a lot of people that , --> , did not have the contingency of , --> , marketing strategy with the the would be , --> , against a project group with the market , --> , creep of demand , --> , were being confused and I did ask , --> , Robert before you join us you know it , --> , always has been as a statement saying , --> , that Airbnb isnt as pervasive in all , --> , markets as it appears to be its , --> , primarily in specific destination , --> , markets and its also leverage to , --> , seasonal high demands is that just a , --> , smoking mirror of these arent the , --> , droids youre looking for mentality , --> , and and robert this is ben disproving , --> , that with these stats saying no actually , --> , its a prevalent issue that isnt based , --> , on those kind of things existed be , --> , influenced by those but it isnt driven , --> , by those and write in fact you have to , --> , consider your inventory dilution market , --> , and the market demand for what youre , --> , not providing and as and then theres , --> , also get inspired from the Airbnb , --> , article we didnt get you last week , --> , which was what is Airbnb is grand demand , --> , and it looks like the way theyre the , --> , article was a skiff article it talks , --> , about how it was no big surprise they , --> , get into the tour operator space in the , --> , ancillary services and so forth and to , --> , improve the model for the hosts it did , --> , raise eyebrows then getting into the car , --> , rental and air transportation section , --> , and now is Airbnb getting into the , --> , potential new generation of OTA where , --> , theyre the ecosystem service provider , --> , from the recipients point of view not to , --> , set the providers point of view its a , --> , reverse of the amount of reverse but , --> , aava coming at the model from a , --> , different angle kind of respect was an , --> , interesting perspective on that I , --> , thought well I i posted a little couple , --> , links over on the on the chat , --> , you know I havent done this in a couple , --> , weeks so I figured out I was doing was , --> , already a clown four seasons in the , --> , conversation so we already done two , --> , shots its not venture by me , --> , there are you alright so so but it , --> , theres a post I wrote back in August , --> , that the really came from an interview , --> , that Joe Gebbia did I javi a co-founder , --> , of Airbnb I where he was talking to skip , --> , specifically and you know he really , --> , talked about the fact that they really , --> , see themselves in the hospitality , --> , business you know Im reading a quote , --> , from skiff that is in the blog post , --> , where he says we didnt come up with , --> , anything new , --> , hospitality has been around forever and , --> , there are many websites like ours , --> , why did ours eventually take off luck , --> , and timing aside what Ive learned is we , --> , can understand the components of trust , --> , and designed for that trust is still and , --> , will always be the foundation of our , --> , company and one of my main objectives , --> , have been to find new ways to understand , --> , that innovate all aspects of trust in , --> , our service our company and our , --> , community right now you ask me that , --> , sounds a lot like providing a good , --> , hospitality expect it , --> , well I think its time I think its two , --> , different , --> , things i think those are two of the , --> , foundational pillars very be one is is , --> , gabby and those guys figured out really , --> , early that yes if youre going to stay , --> , particular in their original business , --> , model before the pivot of stain in , --> , somebodys house on an airbed Yeah right , --> , right now which was the original which , --> , wasnt all was an airbed the crime is , --> , not a separate room it was like youre , --> , in my living room separate of thing that , --> , yes trust is critically important with , --> , us right , --> , the second one though was the hiring of , --> , of chip conley right rod in the , --> , hospitality dimension right and then i , --> , would argue the third pillar was their , --> , investment their investors who brought , --> , adult supervision so yeah clearly strap , --> , as and grow this and and certainly the , --> , cat cheap capital to go ill make this , --> , global well and I mean a i certainly , --> , agree with the third and i dont mean , --> , this to to diminish that in any way but , --> , to me the third is table stakes in the , --> , sense that you know the best strategy in , --> , the world if you can execute you know , --> , all you are is a really good idea you , --> , know and and you know we talked to alex , --> , from Alice last week you know and a lot , --> , of what their focus on is how to help , --> , hotels execute more effectively because , --> , if you dont do that well it doesnt , --> , matter who youre competing against , --> , youre going to lose right here it can , --> , fail so in this specific case I I , --> , certainly dont diminish the importance , --> , of that but but to me execution kind of , --> , his part and parcel of anybody doing it , --> , well I think that where theyve been , --> , really smart is in addition to executing , --> , well is being focused on you know i mean , --> , how many times we had this conversation , --> , on the show that the hospitality , --> , industry has increasingly become a real , --> , estate play and so whatd you run into , --> , is that you know there arent great , --> , operators you know because the the focus , --> , becomes less about the operation and , --> , more or less about the experience and , --> , more about best , --> , not only wield how do we yield an extra , --> , couple of bucks per square foot out of , --> , this box that you actually cant help , --> , design of new hotels , --> , I mean they used to be old hotels and , --> , you can tell us we work in being an old , --> , hotel that was built i should say at a , --> , earlier time not an old hotel but an , --> , earlier time versus the new hotels where , --> , the maximization square-foot yield of , --> , revenue is paramount , --> , they used to be back of the house there , --> , is no back at my house in new hotels , --> , that everyone wanted the staff is is , --> , operating in the very clean view of of , --> , the guests and that is so much against , --> , the old way of doing things were like , --> , they got maids carts into the elevator , --> , yeah thats always a great at keeping it , --> , used to be that the day you had a back , --> , of the house and back hallway for came , --> , back home for service of housekeeping to , --> , work that people would magically appear , --> , and take care of everything you need , --> , just like Disney people pop up and take , --> , care of things that you didnt know , --> , where they came from because a while , --> , another world that existed around the , --> , world that was being created for you and , --> , that has gone to the wayside say no , --> , thats just wasted space we need to , --> , maximize our square footage were gonna , --> , put more rooms in were gonna have less , --> , service space and its taken away , --> , service quality you its no fun having a , --> , car you gotta work around with you , --> , really does suitcase because theyre in , --> , the hallway I mean right so yes well , --> , actually actually ill tell another , --> , needs from that since I love to tell old , --> , stories involved in the in the , --> , redevelopment of the all of the st. , --> , Georges Hospital project which nobody , --> , remembers st. Georges Hospital Hyde , --> , Park Corner but its now the , --> , lanesborough hotel right so we have one , --> , that was being redeveloped have a little , --> , bit of a problem in the way they laid , --> , everything out number number one there , --> , was no area for like purchasing , --> , receiving it wound up being way the hell , --> , away and that that are looking ok but , --> , they had a lot of interesting structural , --> , columns and they had a nice nice , --> , elevator core and there was basically a , --> , three and a half foot gap between what , --> , was going to be a downstairs there der , --> , meeting space which wasnt really big , --> , but it was kind of in the basement on , --> , one side and on the other side would be , --> , the kitchens but in between was the , --> , elevator , --> , well basically for the service , --> , now service going up and down for for , --> , everything for the service staff and a , --> , structural column three and a half feet , --> , away so all the traffic of the waitstaff , --> , and food and everything having to go can , --> , write littles very very constrained , --> , space was very interesting how to deal , --> , with up with that but now , --> , yeah and actually i was always a problem , --> , with that with that property anyway to , --> , operate because they couldnt really , --> , blow up the structural walls but yes , --> , they worked they worked for held up but , --> , you know thats thats something that , --> , used to be very important of not having , --> , stuff cross the traffic that you didnt , --> , see right back of how I mean certainly , --> , you look at meeting space and things , --> , like that people setting up and youve , --> , got all the service staff and theyre , --> , rolling stuff out and setting up in the , --> , middle of things that used to happen , --> , from how did you stage all of that all , --> , of that flow in the background so there , --> , was a door at the end of the corridor , --> , and they could just come down and kind , --> , of set this stuff up and go there and , --> , not cross anything else , --> , well I had that part of hotel , --> , development is gone what weve had , --> , conversations we had a conversation , --> , years ago with that one of our hotels at , --> , one of our competitors actually and , --> , since were playing bingo , --> , this was during my time at leading but , --> , it was it was a competitor of some of , --> , our member hotel so luxury property , --> , well-known brand etc promise Im gonna , --> , buy you know hide the names to protect , --> , the guilty and alkaline give us a kiss , --> , give us give us some clue you can give , --> , us a room count you can give us as a , --> , city and no no it was a shame it was a , --> , it was a luxury change but it was , --> , somebody who was a about you know big , --> , partner of the chain one of the major , --> , developers who owned the number of the , --> , properties in the life and our chief , --> , marketing officer at the time asked the , --> , developer because he was talking all , --> , about how they maximize yield per square , --> , foot , --> , I mean it was very straightforward and , --> , everything that they did etcetera , --> , etcetera etc and our chief marketing , --> , officer said what about intangibles like , --> , brand and you know experience and , --> , service and things along those lines and , --> , his response , --> , was one of the most telling things ive , --> , ever heard and he said oh thats easy we , --> , pay for those with intangible dollars , --> , uh-huh thats a good one , --> , yeah it was like to the performance , --> , hospitality days where when theyre in , --> , that huge accusation mode they were , --> , swallowing up so many hotels are buying , --> , the swaths of hotels back in the lit map , --> , the late nineties and the acquisition , --> , crew who was being paraded around in , --> , there like a victory square like theyre , --> , going to hotels and you know I go we , --> , just bought this one and welcome to the , --> , team and so forth was caught and this is , --> , before social media so couldnt blow up , --> , to probably level should have been as , --> , theyre walking through the hotels it , --> , was overheard by the staff was all very , --> , proud to think theyre joining a big , --> , organization theyre all dressed up , --> , their lineup number the days we used to , --> , do lineups uh youre walking in and one , --> , of the the team that was being what , --> , walked in was overheard saying where we , --> , dont know where those some fun times , --> , and towns or something like that but , --> , hotels i dont know who cares and it got , --> , overheard by the staff and I get spread , --> , around like they do is just turned into , --> , this we dont care who it is its just a , --> , set is by this by that and it really , --> , would turn into a big scuttlebutt within , --> , the organization look two years after , --> , that performance property was dissolved , --> , because they basically got we cut by , --> , other organizations that carved out of , --> , them because they didnt operate well , --> , they didnt operate for hospitality , --> , safety operated as a resume property , --> , ownership group and they couldnt , --> , understand I hotels that they bought , --> , that were successful after theyre , --> , buying it went into this downward spiral , --> , because they were cost saving themselves , --> , out of service and its like theyre , --> , trying theyre trying to shrink their , --> , way to greatness , --> , yes the constants of possibility yes all , --> , gassed up , --> , yeah well hey we can benchmark we use , --> , the effort today I did anyway so thats , --> , good , --> , well you might buy one by one comment on , --> , that and you know thats a conversation , --> , weve had a number of times like I dont , --> , want to knock people who are asset , --> , managers I dont want to knock people , --> , who are in this is a real estate play by , --> , any stretch that there is value in that , --> , theres merit met and the like what i , --> , would say is you know if youre real , --> , estate investor , --> , you know and you keep buying hotels , --> , hoping to yield the most out of the real , --> , estate by cutting costs of things along , --> , those lines , --> , youre better off investing in part and , --> , apartment buildings where their owners , --> , are going to put those assets on Airbnb , --> , in a couple years because thats where , --> , youre driving those governors to anyway , --> , write your name and where you dont have , --> , all that labor and where you dont have , --> , all that pesky labor comment right ok , --> , parking garage parking guys are , --> , incredibly profitable so yeah we can , --> , self-driving cars come along another has , --> , enough about it i still maintain , --> , mini-storage mini-story old self store , --> , LOL store and again and and in the , --> , States for this is now legal weed farms , --> , reforms that I im investigating didnt , --> , yes anyway , --> , yes but yeah I mean you can invest in I , --> , think its a great investment , --> , like there would be there be any part of , --> , it also we jumped over today I was , --> , talking to Robert between the show that , --> , because we had doubts unless he was such , --> , a great conversation with him and we got , --> , so delved into what i would Alice was , --> , all about and the service models and so , --> , forth that represented didnt get to the , --> , news Id so I we kept them in my podcast , --> , last week and I invoke my inner Robert , --> , on one of the articles which was the new , --> , iteration of marriotts classification of , --> , their branding yes and the segmentation , --> , of what differences between the distinct , --> , and luxury and and and I requited a , --> , little bit too anytime a company takes , --> , over another company their first thing , --> , they say is dont worry were gonna keep , --> , everybody and nothing changes , --> , we just want to melt together which is , --> , really saying in doublespeak you know we , --> , dont know what you do yet exactly to , --> , know how were gonna replace you , --> , so until then we dont want you to leave , --> , us before we know how to do that so , --> , were going to tell you to calm down , --> , until we figure out how to replace you , --> , and I went on this little angle on how , --> , theyre going to have to reabsorb , --> , branding brand saturation market and so , --> , forth but I love to hear you guys , --> , continued thoughts on yet another , --> , storyline from marriott about how the , --> , brands are going to be able to co-exist , --> , and they made the next step which is , --> , well these ones are over here and those , --> , ones are over there there thats your , --> , buddy hang out so so maybe we should , --> , recap what this this little amalgamation , --> , looks like and out how theyve , --> , stratified these very light entire group , --> , ok so they basically taken their , --> , brands , --> , Im very similar to baskin-robbins , --> , flavors i dont but you dont somebody , --> , its marriott that they started with , --> , their hot Shoppes so theyre just going , --> , back to the roots you want to do when we , --> , screen share on the on the infographic a , --> , major you just think we want to talk it , --> , through , --> , oh yeah you can do that yeah thats , --> , thats fine their little building , --> , yeah one building with all the stuff im , --> , going with a division yeah so they , --> , basically separated classic from , --> , distinctive are to think of it as an , --> , excel spreadsheet because this is how it , --> , was obviously worked out , --> , thats right , --> , so you have the columns are classic and , --> , distinctive then the rows are luxury , --> , premium and select all right so when you , --> , when you start going through these its , --> , its very very interesting because , --> , basically they made six categories , --> , Im with a couple of other little ones , --> , thrown in that would like from longer , --> , stays and things like that but right , --> , with with this they basically kind of , --> , figure out how to shoehorn in all their , --> , brands into these categories and back , --> , the the relationship between them it , --> , really doesnt sort out a lot of things , --> , where you say classic is ritz-carlton , --> , st. Regis which arguably yeah okay those , --> , those are a little bit more traditional , --> , than W or edition but then you start , --> , looking at these little aberration like , --> , will jape , --> , uh , --> , Ive lost Robert audio , --> , Oh Robert what happened to share my , --> , screen and you disappeared , --> , IDC the screen up from tim i see the , --> , screen but i dont i dont know why i , --> , would lose robert im here on my back oh , --> , youre here you are just missing the , --> , delay sorry about that , --> , no I had actually another husband thing , --> , I had to read in state my camera and , --> , were microphone for some so when you , --> , screen share that basically knocked , --> , knocked me but just like my , --> , authorization to do it on which I dont , --> , know but its not into Steinway please , --> , Ive got it so we can enjoy it so heres , --> , so okay so i thought when i first read , --> , the article kind of its actually one of , --> , the telling things was of how well this , --> , laid out was i believe the reporter not , --> , to malign hotel news now which I love , --> , those got by believe the reporter who , --> , covered it confused the categories put , --> , it on the road or something consistent i , --> , think they started saying premium , --> , instead distinctive or something like , --> , that and which is very because all these , --> , words are completely interchangeable and , --> , have almost no I mean premium vs luxury , --> , vs select its like those are three , --> , different terms but I i think you go out , --> , and ask consumers what that means and , --> , its like I i dont know i dont know i , --> , also would die i think the ritz-carlton , --> , folks in particular and probably st. , --> , Regis Holtz yeah are probably a little , --> , perturbed because I certainly dont , --> , doubt that they think that their design , --> , in there you know service and always , --> , classic I think they would also argue it , --> , is distinctive so right , --> , oh yeah yeah its also its not distinct , --> , is it right out and its not necessarily , --> , the best choice of words in the history , --> , of right being what , --> , but again I think if you go and look at , --> , if i can find the marriott page where , --> , they break down all of this stuff going , --> , on even if you said you know instead of , --> , classes and distinctive you know uh a , --> , traditional and and and more burdensome , --> , like yeah theres nothing to see but , --> , theyll endure do , --> , you know and again I I dont know that , --> , the job that in edmonds has America this , --> , is a nasty nasty branding issue because , --> , theyre obviously getting input that do , --> , not kill any of these brands we do not , --> , want to lose any of the portfolio that , --> , sends a signal that this didnt really , --> , work out as well and things like that , --> , and there should be a culling of the , --> , herd right in this i lost him again , --> , Robert Im sorry dude i went off the , --> , screen and you disappeared again Im , --> , sorry but again to roberts point as he , --> , joins us , --> , sure just a second after we inspect the , --> , area better than i had re-authorize but , --> , thats another little interesting huh , --> , what if you have a is fine youre not , --> , and its weird because you were doing , --> , yeah Im so you were calling your type , --> , made out of the bill , --> , no okay so so heres heres what , --> , so basically all of these groups are now , --> , and they have two categories so if you , --> , talk about ritz-carlton they are classic , --> , luxury right and you eat go to the , --> , marriott website and go through all of , --> , these you go okay so whats their , --> , description legendary service creates , --> , experiences so exceptional our guests , --> , can return simply by closing their eyes , --> , well what thats this , --> , thats the description on marriotts web , --> , page of your man thats another website , --> , marriott so Im not you cant make this , --> , stuff up , --> , what crack-smoking marketer made that , --> , bullshit statement , --> , ok ok so that so thats the bet is the , --> , positioning statement for ritz-carlton , --> , right okay says our ribs here they , --> , borrowed his name is going what I , --> , thought , --> , alright MA quality so st. Regis ok is in , --> , the same category right , --> , classic luxury where exquisite immersive , --> , experiences impeccable service modern , --> , indulgence , --> , refined taste define évariste so you , --> , dont have exquisite experiences at that , --> , not its obviously its not immersive it , --> , rich theres not impeccable service you , --> , dont get any sort of modern indulgent , --> , and youre going to drive you there , --> , yeah yeah its good right so and and you , --> , and you look at the pictures also you , --> , look at the pictures right so , --> , ritz-carlton has my ex its a really , --> , horrible like porte-cochere or something , --> , like that which isnt in China its a , --> , really bad picture for its which is is , --> , very sad , --> , it shows a pretty modern guest room and , --> , then it has a pool right now with with , --> , some a little beyond a beds and things , --> , like that , --> , the st. regis what they show they showed , --> , the porte-cochere of the st. Regis in , --> , New York done and done