There’s more to recession-era promotion than cutting rates. In fact, chopping prices is considered one of the least effective ways to remain competitive in a tough market. As everyone races for the bottom, potential revenue is lost, and it’s incredibly difficult to fight the tide. So, anything a hotel can do in this market to improve its relationship with guests is crucial.
For the folks at Fairmont, this is music to their ears.
The upscale hotel company has partnered with EMI Music on a new branded program called “The Fairmont Music Store.” Guests can order and download music at decent discounts, and if you’re a member of the Fairmont President’s Club, you could save even more. In addition to 15 percent off for club members, there is priority access for special events featuring EMI artists.
It’s a bit unusual, but today’s market calls for unusual.
MSNBC continues to publish the same story, and I continue to reblog it. Fortunately, author Sholnn Freeman managed to sneak in some interesting stuff at the end.
It’s no secret that airline prices are dropping as fast as they possibly can. Broader economic conditions are responsible for this fact. How do we know? The fine folks at MSNBC have developed the unique skill of telling the same story over and over with different words.
So, here’s the reality: you can find domestic one-way fares for under $100. I’ve seen several international fares (one-way) for under $200, usually to Latin America. According to Rick Seaney, Chief Executive of FareCompare.com, “If you are paying over $300 for an airline ticket right now, you are probably paying way too much.” He continues that these prices do not occur outside a recession.
Nonetheless, passengers remain cautious. You know the drill … the savings may be great, but if you can’t afford to take advantage of it, you save nothing. A lot of people are canceling or scaling back vacation plans.
Thanks, MSNBC; we had no idea …
But, there is good news, and this is stuff MSNBC hasn’t reported before.
Airline on-time rates are at their best levels in years. Since there are fewer flights taking off, congestion has declined. So, all that time waiting on the runway last year is time in the sky this year. Of course, efficiency comes at a cost: the International Air Transport Association expects the global airline industry to lose $2.5 billion this year.