HN World Panel: How to manage revenue in a pent-up demand era?
Considering the unprecedented global travel disruption and performance declines we've endured; hoteliers finally have something to look forward to. The world has spent the last 18 months dreaming about travel, but not actually going anywhere. Increasing vaccination rates combined with relaxed travel restrictions are bringing travel back… with a vengeance. Most agree that the worst is behind us.
But so far, this pent-up demand or "revenge" travel is different. Driven almost entirely by domestic leisure demand, the patterns have changed. Some premium locations are already exceeding 2019 pre-COVID levels, while hotels just a few blocks away are still struggling. Hotels that targeted the corporate, international, or group segments are reinventing themselves, with mixed success.
Considering the unique nature of the recovery, what should hoteliers do to optimize and manage COVID's pent-up demand?
Panel champ Scott Dahl asked our experts this question in our Revenue Optimization world panel. Thank you to Michael Bennett, Christoph Hütter, Raul Moronta, CRME, CHIA, Simone Puorto, Max Starkov, Digna Kolar, Gino Engels, Jos Schaap, Federica Salvatori, CRME, Silvia Cantarella, Pablo Torres, Sharad Kapur, Oleksii Kapichin, MBA, CRME, CHBA, CHIA, Diego Fernández Pérez De Ponga, Vassilis Syropoulos, Fabian Bartnick, Inga Latham, Nicole Adair, Ira Vouk, MBA, CRME, CHA, CSPO, and Michail Tzouvelekis for sharing your views.
A special thank you to Cendyn for sponsoring this viewpoint.
Cendyn is the leading innovative cloud software and services provider for the hospitality industry. With a focus on integrated hotel CRM, hotel sales, and revenue strategy technology platforms, Cendyn drives sales, marketing and revenue performance for tens of thousands of hotels across the globe. The Cendyn Hospitality Cloud offers a complete set of software services for the industry, aligning marketing, sales and revenue teams to optimize their strategies and drive performance and loyalty across their business units.
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