Jeff Good, president of Good Hospitality Services, said that since online travel companies continue to put “millions of dollars into their marketing campaigns,” the result is a consumer mentality that is even more discount-oriented than ever before. He said the only way to combat that mindset is to sharpen rate-management skills. Good spoke on a panel at the recent Southern Lodging Summit in Memphis, Tenn. “You have to be on your toes, ready to move and shift when the signals are there,” he said. “It’s almost like being a day trader.” Jim Abrahamson, CEO of Interstate Hotels & Resorts, concurred, sharing an anecdote that consumers often cite brands like Hotwire and TripAdvisor as their favorite travel brands, rather than specific hotel companies like Marriott or Hilton. “We as an industry have to figure out how to embrace that change because the customer is moving faster than ever,” he said. John Belden, president and CEO of Davidson Hotels & Resorts, offered a solution that requires hoteliers to change their thinking about pricing OTC. “We have to realize that the OTCs are closer to our customers than any of the consolidators ever before. We used to use them as filler business and incremental profit but now they’re a true, real source,” he said. “It’s really not a bad thing, but we’re paying them the highest commission. Is that what we should be doing?” Get the full story at Hotel Management Read also "Simple ways to drive hotel revenue with 'little' data" at Hotel Management