Peer Perspective: Valuing Brand Equity
Author: Micajah Sturdivant, CEO
Proverbial Soapbox Rant: While many of our industry’s best hotels are “flagged”, I propose that the rest aren’t “unflagged”! Follow me on this…
We all know what it means to contract with a franchise partner for the benefits of their rewards program and reservation systems. A property’s franchise license should not be its primary descriptor though. Yes, there are hospitality industry differentiators based on the quality of service, amount of F&B provided, and amenities included, but owners and operators have (sorry to potentially step on the toes of our much-appreciated franchisor VPs of Sales and Marketing) given too much credit to our license provider and not enough to great hotels’ branding teams.
The recent rise in soft-branded hotels, a niche MMI has excelled in for several years, is a tale of two cities. It includes legacy brands who appreciate the lift of partnership OR new brands that are looking to get a jump start from an established hotel family of brands. It is the BRAND specific to the property that guests return to as they seek an experience. At MMI, we have worked in the independent hotel space for decades. We even created an independent chain called Cabot Lodge. And, the reason why these hotels were independently successful was because of the promises we promoted AND delivered.
Guests are compelled to choose a brand story that resonates. It has to be authentic and real….a balance of science AND art as hospitality is objective AND subjective.
When we began to compile the attributes of The Memphian, we studied the market, personified its demographics, developed our muse, considered how she would experience the locale, and ensured everything we said, showed, and shared was through HER voice.
It is why guests receive stargazer glasses (like movie theater 3D disposables) at check-in, patrons to our rooftop bar select from zodiac-inspired cocktails and “deconstructed” bathroom floor-plans expand the counter space for guest room touch-ups before a fun night out. And, it is why we believe Conde Nast just recognized this property’s story as one of the top 23 destinations for 2023.
Proverbial Soapbox Rant: While many of our industry’s best hotels are “flagged”, I propose that the rest aren’t “unflagged”! Follow me on this…
We all know what it means to contract with a franchise partner for the benefits of their rewards program and reservation systems. A property’s franchise license should not be its primary descriptor though. Yes, there are hospitality industry differentiators based on the quality of service, amount of F&B provided, and amenities included, but owners and operators have (sorry to potentially step on the toes of our much-appreciated franchisor VPs of Sales and Marketing) given too much credit to our license provider and not enough to great hotels’ branding teams.
The recent rise in soft-branded hotels, a niche MMI has excelled in for several years, is a tale of two cities. It includes legacy brands who appreciate the lift of partnership OR new brands that are looking to get a jump start from an established hotel family of brands. It is the BRAND specific to the property that guests return to as they seek an experience. At MMI, we have worked in the independent hotel space for decades. We even created an independent chain called Cabot Lodge. And, the reason why these hotels were independently successful was because of the promises we promoted AND delivered.
Guests are compelled to choose a brand story that resonates. It has to be authentic and real….a balance of science AND art as hospitality is objective AND subjective.
When we began to compile the attributes of The Memphian, we studied the market, personified its demographics, developed our muse, considered how she would experience the locale, and ensured everything we said, showed, and shared was through HER voice.
It is why guests receive stargazer glasses (like movie theater 3D disposables) at check-in, patrons to our rooftop bar select from zodiac-inspired cocktails and “deconstructed” bathroom floor-plans expand the counter space for guest room touch-ups before a fun night out. And, it is why we believe Conde Nast just recognized this property’s story as one of the top 23 destinations for 2023.