Revenue Optimization Professionals Globally United to Fuel Recovery During HSMAI [email protected]
During one day-long global experience, Hospitality Sales and Marketing Association International (HSMAI) leaders collaborated to exchange industry recovery ideas and revenue optimization revitalization strategies during [email protected], on Wednesday, June 17, 2020.
The toolkit includes insights from 10 global hotel company CEOs:
- Keith Barr, CEO, InterContinental Hotels Group
- Geoff Ballotti, president, and CEO, Wyndham Hotels & Resorts
- Puneet Chhatwal, MD, and CEO, Indian Hotels Company
- Guy Hutchinson, president, and CEO, Rotana Hotel Management Corporation
- David Kong, president, and CEO, BWH Hotel Group
- Chris Nassetta, president, and CEO, Hilton
- Anthony Ross, CEO, JA Hotels & Resorts
- Torgeir Silseth, president, and CEO, Nordic Choice Hotels
- Arne Sorenson, president, and CEO, Marriott International
- Michelle Woodley, president, Preferred Hotels & Resorts
"As we work toward recovery, I would encourage revenue leaders to focus on uncovering and capturing the demand that does exist. It's also important to remember that markets will recover at different times and places, so you want to have strategies that can be easily adapted to the needs of the individual market," said Nassetta.
"We have never seen so much collaboration across the global hospitality community," said Robert A. Gilbert, CHME, CHBA, president and CEO of HSMAI. "This is a major milestone that has opened the door to increased collaboration and connectivity in the digital age. The key insights and ideas that our revenue optimization leaders shared are extremely valuable and will aid in the recovery of our industry."
As a part of [email protected], HSMAI conducted a Hospitality Post Pandemic Plans survey that ran between May 20th - June 2nd, 2020. The survey gathered insights from hotel executives. Key survey findings report:
- 44% of the single properties and 37% of the local brands are focusing on the short term.
- 17% of the international brands are considering a long-term path to recovery (up to 2023).
- 94% of hotel executives reported increasing their focus on the local and domestic markets.
- 85% of hotels are focusing on staycations, 84% on leisure individuals and 76% on local corporations as the return of International Corporate and MICE segments begin.
- 79% of hotel executives are focusing on Dynamic contracting
More insights on the survey are available on the HSMAI Global Coronavirus Recovery Resources center.
HSMAI [email protected] live session recordings can be purchased for $25 (USD), which includes all 30+ sessions, at roc-home.heysummit.com. Save the dates for more revenue optimization educational sessions at regional HSMAI ROC conferences, including:
- HSMAI ROC Americas conference in San Antonio, Texas, USA, October 26-27, 2020.
- HSMAI ROC Middle East, December 8, 2020
- HSMAI ROC Brasil, December 12, 2020
- HSMAI ROC Europe in London, England, January 26, 2021.
- HSMAI ROC Asia Pacific, June 2021, Singapore
Thank you to the HSMAI [email protected] Global Partners for your support: Cendyn, Cvent, IDeaS, Rate Gain, and OTA Insight.
The Hospitality Sales & Marketing Association International (HSMAI) is committed to growing business for hotels and their partners. As the industry's leading advocate for intelligent, sustainable hotel revenue growth, HSMAI provides hospitality professionals and their partners with tools, insights, and expertise to fuel sales, inspire marketing, and optimize revenue through programs such as the Revenue Optimization Conference, Digital Marketing Strategy Conference, and Adrian Awards. We offer organizational and individual membership across three regions — the Americas, Asia Pacific, and Europe, plus a chapter in the UAE — encompassing more than 7,000 members worldwide. Each region has geographic chapters and offers signature programs and services for members.