The New Discipline of Revenue Strategy Takes Center Stage at the Hotel Industry’s First Revenue Strategy Summit (RSS)
- More than 200 Leaders Discuss Threats, Opportunities and Disruption, at the Inaugural RSS, Powered by Duetto
- Thayer Lodging CEO Lee Pillsbury Urges Leaders to Take Risks, Assert Leadership, in Today's "Very Crowded Value Chain"
bigger was at work than "just an industry conference," as 200 leaders from the fields of revenue management, marketing, sales and distribution converged on today's first annual Revenue Strategy Summit at the Affinia Manhattan.
That "something" was the birth of a new discipline – Revenue Strategy – as leadersfrom major hospitality brands, academic institutions and start ups in the Americas, Europe and Asia came together for a no holds barred discussion of how the hotel industry's leading practitioners can create value amidst changes in technology, consumer demand and third parties intermediaries in a rapidly evolving lodging marketplace.
There is No End to Disruption
Keynoting the session, Thayer Lodging CEO Lee Pillsbury called attendees to action,noting adaptation and change have characterized the modern lodging industry since its birth more than a hundred years ago.
"There is no end to disruption," said Pillsbury, who presented the advent of RevenueStrategy as the latest innovation in an industry that has seen peaks and valleys over the past four decades, alongside the rise and fall of major companies, brand concepts and formulas for financial success.
"It's an incredibly crowded value chain in today's industry," said Pillsbury, who hasparticipated directly in many of the industry's major inflection points as a senior executive at Marriott, the CEO of Thayer Lodging, a Member of Cornell University Board of Trustees and a Board Member of Thayer Ventures, the only Venture Capital fund focused solely on the travel and hospitality industry. He concluded, "The only thing for certain is that the future is in our hands."
Morning speakers at the conference echoed the sentiment, calling on revenuemanagers and marketing professionals to seize the initiative in charting revenue growth at their hotels. With attendees from major brands, start up companies and hotel executives from throughout the Americas, Europe and Asia,speakers and panel participants at the event included:
- Lee Pillsbury, Chief Executive Officer of Thayer Lodging
- Cindy Estis Green, CEO and Co-Founder, Kalibri Labs, LLC
- Gian M. Fulgoni, Executive Chairman and Co-Founder of comScore, Inc.
- Drew Patterson, CEO, Room 77
- Thomas Botts, EVP and Chief Customer Officer, Denihan Hospitality Group
- Alise Deeb, Senior Vice President, Revenue Management, at La Quinta Inns & Suites
- Andrew Mantis, SVP and Group Head of Merchant Information Services, MasterCard Advisors
- Patrick Bosworth, Co-Founder and Chief Executive Officer, Duetto
A Discipline Whose Time Has Come
Duetto's Bosworth said, "The tremendous attendance, and frank, spirited discussions attoday's RSS, validate our conviction that Revenue Strategy is a discipline whose time has come – as innovators break down the silos which have created opportunities for third parties to fragment the development of revenue growth at hotels."
Bosworth concluded, "We thank our sponsors, media partners and all the thoughtleaders in attendance, who made the first RSS possible – and who, today, took an impressive step in taking back the initiative to chart the future of revenue growth in our industry."
Bosworth noted the proceeds from the event will be donated to academic institutionsand the HSMAI Foundation to further the study of Revenue Strategy in the coming year.
"An incredible group of thought leaders made the inaugural Revenue Strategy Summitimportant and unforgettable," said Stacy Silver, President of Silver Hospitality Group (SHG) and conference host. "With innovation as its guiding theme, today's event set a new standard for excellence. We are excited to begin planning RSS 2014, which will build on the important foundations that were laid today."
For more, visit #RSSummit or www.revenuestrategysummit.com
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About Silver Hospitality Group | Silver Hospitality Group (SHG)specializes in building revenues and profitability for hospitality companies through targeted industry relations outreach, creative marketing solutions and specialty events. The firm and its network provide unparalleled experience and relationships in all facets of hospitality.