Industry development depends on brand collaboration
Author: Michael Devereux, James Kirk (yBC.tv)Categories: Africa, Brands, Cultural, Deal-making
Tags: collaborations, development
Industry development in Africa means that international brands are arriving. In this TV show Michael Devereux of Starwood Hotels & Resorts suggests that international and local brands need to work together.
Industry development and deal-making
I think everybody plays the development side and the deal side of the industry, they play it very close to their chests quite naturally. You know, you don’t announce a deal until a deal is done. There’s always, word of mouth. It’s quite a small industry in fact. Word gets out that this company is looking at this property or this type of deal, which is natural. But I think we all play things close to our chest. We’re all playing in the same market, the international brands specifically. The local brands play a very important part of the industry. And the international brands must never underestimate the power of the local brands because the local brands have local support. Local support is what keeps your business flowing in the lower seasons, so they’re very important players. We need to possibly collaborate more with local industry players and support them more and possibly in those efforts they would support the international brands more in terms of information sharing and those aspects in order to make it easier to get entry into these countries. International brands are coming to Africa no matter whether you like it or not. It’s the ease of access into those countries.If you found this video about industry development interesting, why not watch more TV shows on The Hospitality Channel?