HSMAI’s Resort Best Practices Initiative Examines 70 Effective Ways To Generate Revenue In A Recession
The thirty resorts that participated in the study employed a wide variety of practices and programs, resulting in the four major categories of initiatives outlined in the study:
- Tapping Consumer Markets
- Leveraging Secondary Revenue Streams
- Distribution Channels: Booking and Communications
In addition to these initiatives, the study provides insights regarding ways to minimize damage experienced during the recession in order to make a stronger recovery when the time comes.
“The initiatives that were most successful in each category had some similar elements,” said Estis Green. “As an added value, many resorts offered suggestions or caveats that they will heed themselves if and when they repeat the programs. Many resorts indicated that they feel the approach taken in the past, has to fundamentally change in the new climate and that these changes will need to be sustained throughout a recovery; there will not be a “going back to the old ways”.”
The executive summary of 70 Effective Ways to Generate Revenue in a Recession is available in the October issue of HSMAI’s Marketing Review. The full report is available to current Resort Best Practices Initiative subscribers and new subscribers who join the Initiative before November 15, 2009.
About HSMAI’s Resort Marketing Special Interest Group
HSMAI’s Resort Marketing Special Interest Group is a group of HSMAI members who advance the resort sales and marketing discipline and the professional development of its members through information sharing and education. This group was created to create forums for information exchange related to the resort sales and marketing specialty. It also guides the Best Practices Initiative, of which this report is a product. The Best Practices Initiative produces two research studies per year, and includes webinars, a subscriber only Linked In group and bi-monthly networking conference calls. For more information, visit .
Phone: +1 404-832-7711
The Hospitality Sales and Marketing Association International (HSMAI) is committed to growing business for hotels and their partners, and is the industry"s leading advocate for intelligent, sustainable hotel revenue growth. The association provides hotel professionals & their partners with tools, insights, and expertise to fuel sales, inspire marketing, and optimize revenue through programs such as HSMAI ROCET, Adrian Awards, and Revenue Optimization Conference. HSMAI is an individual membership organization comprising more than 7,000 members worldwide, with 40 chapters in the Americas Region. Connect with HSMAI at www.hsmai.org, www.facebook.com/hsmai, www.twitter.com/hsmai and www.youtube.com/hsmai1.
HSMAI is the leading association of sales and marketing professionals in the hospitality industry. With over 7,000 members in 35 countries, HSMAI is a global network of individuals, chapters, businesses and organizations. All industry segments are represented including hotels, resorts, airlines, cruise ships, car rental agencies, restaurants, attractions and theme parks, convention and visitors bureaus, destination management companies and reservation sales organizations.
As the regional chapter for the metropolitan area, HSMAI Greater New York serves a community of over 500 hospitality professionals who are committed to the highest standards of service and ongoing professional development.
Membership is open to anyone in hospitality sales, marketing or management as well as travel and tourism educators and service providers who support the industry. HSMAI continues to lead the industry by providing education and market research to its members.