We are all beginning to take a deep sigh of relief.

The hotel industry is starting to show signs of perhaps an earlier path to stabilization, helped by leisure travel in drive-to markets, and we can look forward to a strong summer season, fueled by pent-up demand for vacations.

However, we are a long ways from a full recovery. Properties across the board drained available liquidity, including CapEx and FF&E funds, to pay down lender requirements. These loans are still due, and as the industry recovers, lenders will be less likely to accept more deferments.

Fortunately, so far, asset valuations have not plunged as far as many predicted. Transaction activity in the second half of the year, not to mention the return of group, convention and overall corporate business, should give us to a better indication of the health of the hospitality sector. The Hunter Hotel Investment Conference was a welcome start back for us.

This reality was borne out when STR and Tourism Economics upgraded their U.S. hotel forecast at the Hunter Conference. According to the Daily Lodging report, they do not see full recovery of demand until 2023, but they did raise their estimates for this year. More to the point, they expect close to complete recovery of revenue per available room in 2024. Talk about gap years.

Moreover, debt ratios, interest rates, occupancies or gross operating profit per available room aren’t the only numbers about which we should be concerned.

As reported by the Daily Lodging report, according to the American Customer Satisfaction Index Travel Report 2020-2021, among airlines, hotels, car rentals and internet travel services, only airlines kept customer satisfaction moving in a positive direction during the pandemic. Overall, guest satisfaction for hotels tumbled 3.9% to an ACSI score of 73 out of 100, the lowest it has been in over a decade. Five of eight major hoteliers posted declines of 3% or greater and even Hilton, the industry satisfaction leader, earned a 4% decline from the prior year.

If we are doing so many things right, working so hard to keep our properties safe and inviting, how could this be?

Interestingly, at the property level, this may not be a total surprise. Many of us were noting lower guest satisfaction scores on brand surveys, many of which had not been adjusted for the pandemic world. Likely, many factors are in play, including the arduous guest behavior protocols we were tasked with implementing; the uncertain status of individual properties, making it hard for people to plan trips; and having to take care of guests with skeleton crews. Contactless services only go so far.

Two other factors stand out. The first is the lack of consistency in the delivery of services across the industry. The second is the perhaps too defensive consumer posture in which the industry found itself. When you are scrambling in the backfield just trying to avoid the rush to stay alive, it can be hard to set up for that downfield touchdown pass.

The way back will take superb coordination and cooperation among ownership groups, property managers and our brand partners, as applicable. Whether it’s check-in procedures, housekeeping, breakfast offerings or overall guest services, we would be well-served by greater consistency across the board. Rationalizing guest expectations will also take astute marketing, reinforcing the outstanding quality and services of today’s hotel properties.

Doubtless, the major brands are anxious to restore some of the service standards, property-improvement requirements or fees that were relaxed during the pandemic. However, the times call for caution here, at risk of upsetting the overall industry recovery. One example is many brands are looking to impose new, costly broadband standards across their properties.

Next, we need to reconsider our pricing models. Over the years, in order to win favor, we have boxed ourselves into a generous service model. Free breakfast well beyond coffee, juice and a sweet roll; daily housekeeping and whatever towels, laundry or toilet accessories one’s heart desires; expensive to build, equip and staff, yet complimentary pools and fitness centers; extra people in the room. No problem. Remember, pre-pandemic, the industry was strong, but growth in profits was beginning to lag the nation’s economic growth.

It won’t be easy, but this is the time to look at the guest service and pricing models of our cousin industries like the airlines, rental cars, resorts or entertainment venues and how those strategies are marketed. Are we leaving too many revenue possibilities off the table? As we proceed from the pandemic, instead of business as usual, now is the time to move our profit goalposts forward.

Kerry Ranson is the CEO at HP Hotels.

The opinions expressed in this column do not necessarily reflect the opinions of Hotel News Now or CoStar Group and its affiliated companies. Bloggers published on this site are given the freedom to express views that may be controversial, but our goal is to provoke thought and constructive discussion within our reader community. Please feel free to contact an editor with any questions or concern.