Also in this playlist...
This transcript is automatically generated
Shares of Orient Express Hotels get -- a boost after reporting better than expected first quarter results.
With locations in 22 countries the luxury hotel company has its finger on the pulse of consumers around the globe.
Joining us now Jon Scott president CEO of Orient Express Hotels.
And you -- here and needed this job aren't in November I knew in the hot seat in November was my percent and you stepped in it eat comes out to an earnings report this stock has been down -- -- on your plate Toledo and.
We do we do what we're opening our beautiful new hotel in Santa Barbara the -- concho and opening also our second and river cruise in in Burma so pretty excited so it's.
A little bit of everything you that luxury hotels you have these luxury train is Anbar tribes as well cracked what we don't column barges but there they're great travel experiences on the river and in France it's mark's right it's a -- if you love your -- He didn't drink got a did you do.
And we've seen from the consumer the luxury customer for -- while.
-- got her and we didn't think they work but they did slowdowns in -- during travel and do traveling.
-- they did you know mostly on the corporate side there was far more of that and most of our properties -- leisure oriented.
So there was a pause.
Occupancies declined in our business keeping your rates.
Hole was very important so we we we have pretty good discipline in the industry -- that perspective.
A -- occupancies did decline.
We're on the upswing you're seeing some trends as it relates to new emerging markets great travelers coming out of Asia coming out of Russia coming out of brick countries.
That piece of the business on an -- basis is growing.
So these are leisure travelers at at coming out of these brick countries.
And they're put up four -- -- 500 dollars a night that they are in fact these -- spend rate has been higher than some of our traditional customers so for example.
Out of the brick countries who you were getting anywhere from fifty to a hundred dollars more and spend per occupied room -- and we do from even some of our traditional US and European what is this -- use it that you're seeing are you seeing that -- coming out.
Gangbusters want to spending get out there.
Or are they still looking for a little -- You know that values always part of the equation so I would say they're they're looking for unique and differentiated experiences.
The hotel industry has become fairly come out of ties chain like brands chain like luxury.
You know room sizes are are are consistent there's a lot of marvel and room so what they're looking for his unique one of -- kind experiences and that's where that kind of the service -- the product delivery.
Is really important.
You're with rosewood and we actually just had Rosen Donna -- on in the last -- there's a lot of it seems luxury hotels out there these days.
How do you differentiate yourself.
Yeah that's that's a very good question there are luckily with the the economy the way it is on how a lot of human being built so supplies -- constrained on that front.
On the having but having said that you differentiate yourself.
We do by creating unique one of a kind locations so.
How many are properties are in very high -- entry markets -- chip -- in Venice yes I was the first property right yup that was that kind of created was the impetus for the whole -- so.
Our differentiation is really unique one of a kind so with each of our hotels has a unique brand.
Each of our hotels as unique product.
In service style delivery style so as opposed to being a chain or consistently -- branded each -- -- -- individual.
Different hotels different experiences I'd be remiss -- here in Manhattan to not mention to anyone club just came from what's there.
That is also under your umbrella are you going to open more restaurants.
You know is part of our business so.
We will as it relates to probably hotels were we going to the restaurant business probably not -- we get offers from time to time to say.
Look 21 clubs -- can we take that up and expand it.
-- today were -- primarily focused on hotel so we may do between one club and hotel we may do.
And chipper at a restaurant one of our hotels but but we're really focused on hotels.
It is the best most expensive -- ever haven't -- I'd like to orient express that I -- -- you're being.
-- then you can --
Filter by section