The post-September 11th adjustments to the 163-room Westin Hotel's marketing and pricing strategy are not panic-driven, insists the director of its sales and marketing division, Shane Hodges.
But the loss of a significant chunk of the 35 to 40 per cent business they were expecting from the US has called for a speedy reappraisal of their target market.
Both he and general manager Enda Mullin talk in terms of "diverting resources" and "staying flexible and adaptable" to the needs of an uncertain market.
When the five-star Westin opened on September 3rd - on a triangular site fronting Westmoreland Street and combining the former Allied Irish Bank and The Pearl Building - it looked as if a busy few months lay ahead.
When disaster struck in the US, quite a number of prospective guests promptly pulled out of reservations, some unsure of their future plans but saying they may return later in the month or in the new year.
"We were badly affected in our first month of operation. October was a bad month but November has picked up a little. The flood of enquiries has not stopped, but there has been a slowing down of actual definite commitments. Companies are putting out feelers, not knowing what the future will hold."
The Westin Hotel was the US company Starwood Hotel and Resort's first hotel venture into Ireland. Starwood operates and franchises 725 hotels and resorts in 80 countries including the Westin chain, the Sheraton, St Regis, and the Luxury Collection.
Mullin says the chain's network of global sales offices has helped them in terms of referrals. They have been able to piggyback on a worldwide long-established relationship with large multinational companies.
"We have the advantage of worldwide contacts," says Mullin, "but the disadvantage of not being an established name here. If the downturn had happened 12 months down the line, we would have had time to put out an awareness campaign. The fact that it is a listed building precludes us from using heavy signage and lighting so people not may not yet be aware of us. We are addressing that with a radio, newspaper and PR campaign."
The UK, Ireland and wider Europe will now be a focus of their marketing strategy. US bookings are down to 27 to 28 per cent, says Hodges, while the Irish market represents 24 per cent of business.
The hotel is currently promoting lower weekend and mid- week rates. Hodges says this is not about panicky price slashing but a realistic response to the market. "An overnight stay is now £153 (€195) including breakfast; it was £167 (€213) without breakfast, which represents around a 10 per cent reduction."
Corporate and conference facilities include the ornate banking hall, The Teller Room, the circular boardroom, and six meeting rooms at mezzanine level.
As many companies are now operating on tighter, more cautious budgets, The Westin hase had to offer a revised service, where required
"Instead of three-day conferences, companies might do one or two days, so we have to be more flexible with the groups we take." says Hodges.
