Showing Items with Revenue Management Category

HSMAI Perspective: The Hospitality Commercial Leader Has Finally Emerged

Over the last few years, debate has ensued about whether the word “commercial” would appear, or stick, in the titles for roles that traditionally were hospitality sales, marketing, revenue, distribution, or loyalty.  At HSMAI Americas’ recent Commercial Strategy Week, many of the 750 hospitality leaders in attendance debated, defined, redefined, and defended the label repeatedly.

HSMAI Commercial Strategy Week Preview: Economics Beyond the Forecast

During this year’s ROC Americas, Sacks will present his general session “Economics Beyond the Forecast” on June 29. The session will share Tourism Economics’ latest views on the economy, the mindset of travelers, and expectations for how and when travel will fully recover.

Managing the Complexities of Third-Party Content

Now more than ever before, consumers are driving the content they want — and don’t want — to see. How do we as hoteliers control the content chaos? The HSMAI Global Distribution Advisory Board recently discussed how they are managing content at their companies.

Renewing the Talent Pipeline: State of Talent Report

The hospitality labor shortage is real, and there are few easy answers. Talent was lost in 2020 to furloughs and layoffs, but also to individuals who chose to retire, transition to other industries, or downsize their household income to accommodate diverse needs. How can we market the career potential and the core purpose of the industry to a new base?

What Is the Future of Electronic Distribution?

As technology evolves and many people shift to making more purchases online, especially since the start of the pandemic, many questions arise around the future of electronic distribution. These questions and more were discussed during a recent HSMAI Global Distribution Advisory Board meeting.

In the ‘New Normal,’ Interdepartmental Silos Continue to Disappear

Within the hospitality industry, the pandemic has changed the way we recruit and attract new talent as well as what we’re looking for when hiring. The new job description for commercial teams is evolving quickly. What do we need to look for with new revenue, sales, and marketing talent?

Profit Optimization and All the Perils that Ensue

Price adaptations have rapidly moved from being a profit optimization lever to an essential tool for commercial survival in times of massive cost turbulences. Yet, price increases are often implemented quickly and in an indistinguishable manner. What do we do about it?

Giving Students a New View into Revenue Optimization

Professor Breffni Noone discusses what her new course, Hospitality Revenue and Profit Optimization, entails as well as questions industry needs to ask to help aspiring professionals get reengaged with what the hospitality profession has to offer.

Are Trends Reports Overrated?

But how many of these trends should we actually be considering on a day-to-day or longer-term basis? How do we make sense of it all? The HSMAI Revenue Optimization Advisory Board recently discussed this and shared their thoughts on navigating these new-year trends.

Creating New Opportunities

The pandemic has actually created an opportunity for hoteliers to shift revenue strategy and reconfigure their sales teams in a way that may not have been a priority during the previous levels of economic boom and oversupply of RFPs.

2022 is all about “Radar Love”

Given the current situation of uncertainty, there are a few things that will assist you as you navigate into the new year and think about the direction needed to optimize revenue and profitability.

HSMAI Top 25 Profile: Rhett Hirko, CRME

HSMAI recently honored the 2020 Top 25 Extraordinary Minds in Hospitality Sales, Marketing, and Revenue Optimization, including Rhett Hirko, CRME, Global Vice President of Revenue Optimization Preferred Hotels & Resorts.

Reframing Performance

HSMAI ROC 2021 Lightning Round presentation by Jennifer Hill, CRME, VP, Client Solutions, Kalibri Labs.

ADR As You Wish

HSMAI’ ROC 2021 Lightning Round presentation by Monika Morrobel, CRME, CHDM, corporate director of revenue at The Kessler Collection.

The Benefits of Intelligent Process Automation

Technology is advancing at a lightning pace right now thanks to all of the innovation that has come out of the pandemic, changing how many revenue optimization professionals do their jobs.

Adam Sacks Delivers Economic Insights For HSMAI

Adam Sacks from Tourism Economics spoke about the outlook for hospitality and travel to two HSMAI audiences at Commercial Strategy Week in Dallas, delivering an optimistic outlook about travel recovery, which he says will have four characteristics.

Why Hotel Revenue Leaders Are Feeling Optimistic

Brands are enjoying 2019 all over again, while hotel management companies are more focused on cross-teams collaboration and how people work, according to participants at HSMAI’s Brand and HMC Chief Revenue Officer Executive Roundtables.

5 Things to Know About HSMAI Vanguard Honoree Cindy Estis Green

A pioneer in helping the hospitality industry understand big data and distribution, Estis Green has had the kind of career that wins you awards. The latest is HSMAI’s Vanguard Award for Achievement in Revenue Management, which Estis Green will receive during ROC Americas 2021.

The View From Europe

Hospitality leaders from HSMAI Europe analyze the results of Global Curate, which brainstormed the most relevant KPIs for the post-pandemic market.

The Outlook: Recovery and Beyond

Tourism Economics’ Adam Sacks offers a preview of his general session at HSMAI’s upcoming ROC Americas event — including why he thinks ‘the industry remains strong.’

Living in a World of Labor Shortages

HSMAI’s Revenue Optimization Advisory Board members recently discussed how their companies are addressing labor shortages, not just today but in the years ahead.

HSMAI Top 25 Profile: Cesar Wurm, IHG

HSMAI recently honored the 2020 Top 25 Extraordinary Minds in Hospitality Sales, Marketing, and Revenue Optimization, including Cesar Wurm, Vice President of Commercial and Revenue Management IHG.

Where the Staffing Crisis Lives

Is the talent shortage hitting hardest at the unit or corporate level? Hospitality executives across functions — sales, marketing, revenue, digital, and assets — says it’s a little bit of both. Or in some cases, a lot.

HSMAI Top 25 Profile: Dana Cariss, CoralTree Hospitality

HSMAI recently honored the 2020 Top 25 Extraordinary Minds in Hospitality Sales, Marketing, and Revenue Optimization, including Dana Cariss, CHDM, Vice President of Revenue Strategy and Distribution, CoralTree Hospitality.

Hotel Owners and Asset Managers Focus on Profitability, Talent, and More

Hotel asset managers and ownership groups have faced unique challenges over the past year and a half. With that in mind, HSMAI hosted its first-ever virtual Hotel Ownership Group Executive Roundtable on June 29 to give them the opportunity to share their thoughts on recovery and how they’re moving forward.

How Hotel Management Company Revenue Leaders Are Managing the Recovery

Demand pricing, brand support, and revenue management systems are among the biggest concerns of hospitality chief revenue officers right now— and were prime topics of discussion during HSMAI’s virtual CRO Executive Roundtable on June 17 for revenue professionals from hotel management companies.

The KPIs You Need Right Now

Just in time to help you chart a course through recovery, HSMAI’s KPI Workgroup has developed a master list of key performance indicators for hospitality sales, marketing, and revenue optimization — from ADR to YOY Growth.

The New Priorities for Revenue Management Systems

The shifting realities of revenue management have created new priorities and new must-have features for any RMS. These are the priority features that revenue leaders from across the hospitality industry identified.

Revenue Optimization in a Time of Capacity Constraints

Capacity constraints due to physical spacing requirements and staffing shortages, combined with a new kind of traveler have created a new perfect storm – how to balance revenue optimization with reduced service levels and long-term reputation management.

The New RMS: A Buying Guide

HSMAI) and Revenue Analytics present The New RMS: A Buying Guide, a new white paper that explores modern hotel revenue management systems, including how they have evolved — and how they need to evolve — in the aftermath of the pandemic that has seriously disrupted the hospitality industry.

HSMAI Top 25 Profiles: Eliot Hamlisch, Wyndham Hotels & Resorts

HSMAI recently honored the 2020 Top 25 Extraordinary Minds in Hospitality Sales, Marketing, and Revenue Optimization. We’re profiling all of them in an HSMAI Special Report, including Eliot Hamlisch, EVP of Loyalty and Revenue Optimization, Wyndham Hotels & Resorts.

The Challenges of RevPAR

Is there a better way to gauge performance? HSMAI’s KPI Workgroup is making the case for a more holistic revenue approach.

What Is Business Acumen and Why Is It So Important?

No matter your discipline, business acumen is essential to your career in the hospitality industry. Learning business acumen means getting acquainted with everything you should know about the business world — soft skills, finance, reporting, communications, investing, profitability.

HSMAI Top 25 Profiles: Charlestowne Hotels’ Jonathan Capps

HSMAI recently honored the 2020 Top 25 Extraordinary Minds in Hospitality Sales, Marketing, and Revenue Optimization. We’re profiling all of them in a forthcoming HSMAI Special Report that we’re previewing with excerpts, including Jonathan Capps, Vice President of Revenue, Charlestowne Hotels.

HSMAI Top 25 Profiles: Virgin Hotels’ Sonali Fernando

We’re profiling the 2020 Top 25 Extraordinary Minds in Hospitality Sales, Marketing, and Revenue Optimization in a forthcoming HSMAI Special Report that we’re previewing with excerpts, including Sonali Fernando, regional director of revenue for Virgin Hotels.

Focusing on Building Profit

With many hotel companies having the urgent need to finally focus on profit after a year of tackling other priorities, how can revenue professionals innovate to support a bottom-line strategy? Members of HSMAI’s Revenue Optimization Advisory Board shared their ideas for profit optimization a recent call.

Best Practices for Revenue Leaders a Year into the Pandemic

One of the most valuable sources of information when you are working through a crisis and trying to figure out what to do is your peers. With that in mind, HSMAI brought together more than two dozen revenue executives from hotel management companies to share their wealth of knowledge with one another during a virtual Executive Roundtable.

A Deep Dive Into the Minds of Brand Revenue Executives

Revenue leaders have a lot on their mind these days — such as planning and innovating to bring revenue back to pre-COVID levels. HSMAI hosted a virtual Brand Chief Revenue Officer Executive Roundtable, bringing together revenue executives to discuss some of the ways they’re doing that.

EXECUTIVE BRIEFING: Remington Hotels’ Raul Moronta

Raul Moronta, CRME, CHIA, has had a career path that closely tracks with the growth and evolution of hospitality. Over more than 25 years, he’s gone where the industry has gone, from sales and operations to revenue and commercial strategy.

Creative Revenue Streams for the Future

There’s no shortage of innovative things that members of HSMAI’s Revenue Optimization Advisory Board have tried that could last well beyond the pandemic. Need inspiration for transforming your own hotel revenue operation? Here are a few of the most popular ideas that ROAB members shared on a recent call.

Forecasting Still Makes Sense

Heidi Gempel, managing partner and founder of HE International, shares her thoughts on how to forecast even though past analytics aren’t relevant and everything is unprecedented.

The Prescription for Success

If we think of hotel revenue teams as doctors, they are prescribing strategy to marketing and sales teams. HSMAI’s Revenue Optimization Advisory Board discussed this topic on a recent call and shared what they believed was the prescription for success.

ROC Middle East: Stay Connected, Stay Informed, and Stay Relevant

HSMAI Middle East recently hosted ROC Middle East, a one-day hybrid event. During the closing program, Kempinski Hotels’ Amanda Elder and JA Resorts & Hotels’ Thomas Grundner joined the Dubai College of Tourism’s Jeff Strachan to give an overview of the day.

Recovery Connections: From Revenue to Profit

Tim Wiersma, CRME, recently shared key insights from the HSMAI Recovery Connections session “From Revenue to Profit: Can You Make the Shift?” during a recent interview with HSMAI.

What We’ve Learned From Nine Months of COVID

With her latest report, “Nine Months of Covid: Advice From the Global Hotel Industry,” Sherri Kimes has gone broad and deep, partnering with HSMAI and Revinate to survey a thousand hospitality professionals in a hundred countries.

How User Experience Is at the Forefront of Revenue Optimization

HSMAI’s Revenue Optimization Advisory Board discussed the importance of UX when it comes to revenue optimization on a recent call, with members noting that presenting data or other information in a seamless way is crucial not just for customers but for internal purposes as well.

Revenue and the Future of Hybrid Events

A panel at Hospitality Financial and Technology Professionals’ recent CYBER HITEC conference offered a potential revenue source for an industry eager for recovery solutions.

Recovery Connections: Winning With Multi-Property Revenue Management

During a Recovery Connections session, IHG’s Sharon Paine, Aimbridge Hospitality’s Angela Englett, and Hilton’s Ivan Calil joined Red House Strategy’s David Warman to discuss how to implement revenue management for multiple properties, how to manage time, and much more.

The New Revenue Team

HSMAI and Revenue Analytics present The New Revenue Team, a white paper offering insights into hospitality revenue during the COVID pandemic. The publication examines revenue teams during the pandemic and after the pandemic, and identifies the right solution for right now.

Revenue Strategies for Recovery

Insights from Tim Wiersma, founder and principal at Revenue Generation LLC and chair of HSMAI’s Revenue Optimization Advisory Board, who led a breakout session on “Revenue Strategies for Recovery” as part of the HSMAI Washington, D.C. Chapter’s State of the Industry event.

Revenue Optimization in the “New Abnormal”

The issues haven’t changed dramatically since their last “scouting” exercise conducted in December 2019, but the context has shifted. It is sort of a “same story, different tune” situation.

HSMAI Customer Insight: Booking Patterns for the Rest of 2020 | ADARA

Carolyn Corda, CMO, ADARA, provides HSMAI insights on their latest traveler trend findings in this video, which features some of the early booking trends that are indicative of demand for the rest of the year as well as highlights some meaningful changes in purchase behavior.

Four Revenue Topics in the Forefront

HSMAI’s Revenue Optimization Advisory Board discuss the four revenue-focused topics that will be discussed in HSMAI Recovery Connections sessions.

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