eoff Ballotti is staring at a map on his office wall and likes what he sees. Nearly two dozen dots sprinkled across the United States represent future semiconductor factories. Outside of the microchip sector, few executives would seek out such a stodgy map from the Semiconductor Industry Association, let alone hang it on a wall. But for the CEO of Wyndham Hotels & Resorts , each dot on that map represents a giant, flashing-light opportunity.
“This is pretty unique to Wyndham, and they’ve been the most vocal about it,” agrees Michael Bellisario, senior hotel research analyst and director at Robert W. Baird & Co. “At least publicly, the way it’s been communicated to analysts and investors.” Yet make no mistake—serving those blue-collar business travelers is extremely lucrative. “They often stay for months,” Ballotti says, noting that the company expects that the average worker will need a room for between 24 and 34 days, roughly 15 times longer than the typical leisure traveler.
Unearthing New Customers: Wyndham CEO Geoff Ballotti at the groundbreaking for an Echo Suites hotel in Plano, Texas.“The extended-stay market overall is a bit underserved, especially in the economy segment,” says Montour. “I think Wyndham is the first to say, ‘Okay, let's take a fresh take at this, let's build something exactly for this market. New construction only.
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Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »