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
HSMAI is a global organization of sales, marketing, and revenue management professionals representing all segments of the hospitality industry. With a strong focus on education, HSMAI leads the way in identifying and communicating trends in the hospitality industry. Operating as a leading voice for both hospitality and for sales, marketing, and revenue management disciplines, HSMAI connects its members with customers. Founded in the United States in 1927, HSMAI is membership organization comprising 5,000 members from 35 countries and chapters worldwide. HSMAI operates regionally around the globe via Regional boards of directors and staff. There are three regions: the Americas, Asia Pacific, and Europe, and a chapter in the Middle East. Each region has geographic chapters and signature programs and services for association members. HSMAI has a Global board which is made up of delegates from each Region.