Harnessing a holistic commercial strategy to break the ‘silo mentality’
As the COVID-19 pandemic brings about unprecedented disruption, the hotel industry must pivot and adapt by embracing innovation and developing a holistic commercial strategy. Traditional siloed operations should give way to a unified approach, integrating sales, marketing, revenue management, and distribution teams under one strategic umbrella. Leveraging technology and data analytics, hotels can gain actionable insights, forecast demand,...
Periods of disruption often serve as catalysts for innovation, and the hotel industry is currently experiencing a transformative phase due to the impact of the COVID-19 pandemic. Formerly successful strategies have quickly become outdated as consumer behavior, competition, and forecasting methods have evolved.
This article explores the importance of recognizing and seizing new growth opportunities by adopting a holistic commercial strategy in the hotel industry. By breaking down departmental silos and leveraging technology solutions, hotels can enhance operational efficiency, foster collaboration, and achieve sustainable profitability.
The Hotel Yearbook Technology 2023
The 2024 edition of "The Hotel Yearbook (HYB) Technology," curated by EHL's Ian Millar, offers a comprehensive outlook on the emerging technology trends and innovations poised to shape the global hotel industry. It amalgamates insights from a multitude of industry thought leaders, spotlighting key foresight in several tech-oriented fields. This includes anticipated evolutions in the future tech stack, which will drive operational efficiencies, the 'human stack' that explores the intersection of human resources and technology, and the application of Generative AI in creating novel customer experiences. Overall, this HYB edition serves as an essential guide for understanding how technology and innovation will redefine the industry landscape.