Word: premiums
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...from American Airlines sat down recently to do something unheard of--exchange ideas with employees. From the back, a consultant acting as a "marriage counselor" observed silently as flight attendants and pilots, airport workers and reservationists, and even skycaps made suggestions about how to improve service for American's premium passengers. The rancor of early meetings was gone, replaced by--what's this?--a raucous cheer that went up when flight attendants learned they had won a round in a yearlong battle for...half-and-half. Yes, the real thing is again part of coffee service in first class...
Keeping business travelers happy is crucial to American's future. Once the darling of such premium-paying customers, who liked the airline's service along with being able to rack up frequent-flyer miles on transcontinental flights, American has lost some even to the likes of JetBlue, a low-cost alternative with amenities like seat-back TVs. "The business traveler used to be American's bread and butter, but the butter is a little thinner these days," admits executive vice president Dan Garton. But American's elite clientele will see improvements this summer--a low-carb, high-protein breakfast...
Another reason REITs have hit the skids is that after doubling in value since 1999 (while the S&P 500 fell 18%), REIT prices got about 20% ahead of the estimated value of the properties that underlie them. The April decline, however, wiped away almost all that premium. REITs may not be cheap, but they're no longer expensive...
Getting in touch with your inner inn is spreading across top-tier hospitality brands. Take the Fairmont Washington, D.C., which touts the Toronto-based chain's premium service as a "hotel within a hotel." In addition to the 48 elegantly furnished rooms, the hotel's concierges are expected to do the unexpected. Says Fairmont Gold concierge Clarence McLeod: "We're called upon without any notice to provide last-minute miracles. Sometimes I feel like Superman. I can conquer anything." All starting at $329 a night. For the chains, creating these special sanctums is a response to the popularity of boutique...
...That fear heightened in March, when SABMiller bid for an additional 29% of Harbin Brewery's government-owned stock. That would have given SABMiller control of the company and its premium brand, Hapi?potentially a national rival to Budweiser, which A-B also markets as a premium beer...