A plethora of economic indicators are pointing towards recession in 2023. While this news is disheartening, hotel management companies that act now in anticipation of the likely downturn will win the market share game for next year.
HSMAI Revenue Optimization Advisory Board members weigh in on the question of “is budgeting a waste of time when it is rarely accurate anyways?”
By Mark McBride, Senior Director of Franchise Revenue Management, Hilton, and member of HSMAI’s Revenue Optimization Advisory Board While leisure travel is coming back, there are still a multitude of…
Capacity constraints due to physical spacing requirements and staffing shortages, combined with a new kind of traveler have created a new perfect storm – how to balance revenue optimization with reduced service levels and long-term reputation management.
Heidi Gempel, managing partner and founder of HE International, shares her thoughts on how to forecast even though past analytics aren’t relevant and everything is unprecedented.
While we’re all still navigating through what it means to live in this “new normal,” it’s important to understand where we ended the year as we think about moving forward into 2021 with hope on the horizon.
Chief global economist at the Economic Outlook Group LLC Bernard Baumohl explained that there are four main factors that will affect the economy over the next year or more: the path of coronavirus, Congress’s next stimulus package, and the outcome of the presidential election.
HSMAI hosted a virtual Executive Roundtable for hospitality chief revenue officers in partnership with Clairvoyix, OTA Insight, Cendyn, STR, and ZS on Oct 6. Here are key takeaways from the group’s discussion.
In this video, SiteMinder Founder Mike Ford, provides HSMAI insight into the impact of a resurgence in coronavirus cases in several locations.
HSMAI asked participants at its latest round of virtual Executive Roundtables — for chief sales, marketing, revenue, and digital officers — to share when they anticipate their business returning to pre-COVID levels.
Takeaways from the recent HSMAI Chief Revenue Officer Executive Roundtable on 2021 budgeting, pricing, forecasting, and more.
Mohamed Abu Basha, director and head of economics and research at EFG Hermes Holding, provides an overview of the Middle East economic outlook and his upcoming presentation.
The CEO of Airline Intelligence and Research in Sydney, Australia, and former chief economist at Qantas airline, provides an overview of conditions in the region and previews his presentation.
HSMAI’s Revenue Optimization Advisory Board (ROAB) met on a call May 7 to discuss further implications of the coronavirus, in particular how hotels are thinking about reopening. Here are a few takeaways from the discussion.
When it comes to determining the full scope of the coronavirus effect, hotel management companies are monitoring specific key indicators, as the three dozen participants in HSMAI’s HMC Chief Revenue Officer Virtual Roundtable — presented online on March 25 — shared. Four indicators topped their list.
HSMAI hosted a Brand Chief Revenue Officer Virtual Roundtable on March 24 that focused on the impact that COVID-19 is having on hotel revenue optimization. Here are six key indicators that participants said they are seeing domestically and abroad that can be used to determine how the hospitality industry is doing — and what might be ahead!
HSMAI’s Revenue Optimization Advisory Board (ROAB) held its annual retreat last month to identify the most pressing issues facing hotels on the revenue front and outline plans to provide revenue professionals the insights, tools, and best practices they need to address them. Here are a few key discussions ROAB members had.
With a potential economic downturn looming in 2020, it is important for hospitality professionals to prepare — particularly those working in revenue optimization. On a recent call, HSMAI’s Revenue Optimization Advisory Board (ROAB) discussed what steps we should be taking. Here are three takeaways from our conversation,
It’s budget season for the hospitality industry, including members of HSMAI’s Revenue Optimization Advisory Board (ROAB), who on a recent call discussed their planning process for 2020. Members had varying ideas for what the upcoming year will look like and how best to confront potential issues.
With many companies in the process of planning their budgets for 2020, HSMAI’s Marketing Advisory Board (MAB) recently discussed the possibility of an economic downturn and what that would mean for hotel marketers in the coming year. Here are three takeaways from the conversation.
Forecasting a hotel’s future revenue — including occupancy and average rate — is an important and foundational factor in a hotel’s ability to design successful revenue optimization strategies. There are…
Shawn DuBravac is the New York Times bestselling author of Digital Destiny: How the New Age of Data Will Transform the Way We Work, Live, and Communicate. He is also the president and…
By Timothy R. Wiersma, Vice President of Revenue Management, Red Roof Inns Inc., and a member of HSMAI’s Revenue Optimization Advisory Board As revenue optimization continues to evolve, it’s more…
Industry data analysts from STR, PwC and CBRE share their predictions for first-quarter hotel performance in the U.S. to shed some light on where the industry might go in the…
EHL senior lecturer Scott Dahl, who had some 15 years’ experience in revenue management leadership roles, says four major themes were discernable at two recent Hospitality Sales and Marketing Association International…
By Timothy R. Wiersma, Vice President of Revenue Management, Red Roof Inns, and a member of HSMAI’s Revenue Management Advisory Board Q42018 means it’s time to think about Q1 2019…
Takeaways from a recent HSMAI Revenue Management Advisory call focused on how to keep DRMs interested and engaged.
When HSMAI’s 2018 Revenue Optimization Continuing Education & Training (ROCET) program kicks off in Houston next week, the one-day conference — which is being presented nine times throughout the year…
When Maureen Callahan retired as a vice president of branding and marketing at Two Roads Hospitality this past December, she capped a decades-long career that was dominated by a 30-year…
Hoteliers are under increasing pressure to extract knowledge and insights from vast amounts of data in order to enhance business strategies and optimize the customer experience. It’s not news that the better the collaboration between marketing and revenue management, the more profitable and successful the enterprise. But what does this really mean when it comes to data and analytics?
Tax reform is no longer just a talking point among hoteliers; it’s a reality. It’s no longer just a bill; it’s law. What the recently passed tax reform legislation means…
By Christian Boerger, CRME, Corporate Director of Revenue Strategy, Pacific Hospitality Group — member of HSMAI’s Revenue Management Advisory Board The 2018 outlook for our industry is strong. According to…
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