HSMAI hosted a Hotel Management Company (HMC) Chief Revenue Officer Virtual Roundtable on March 25 on the impact COVID-19 is having on hotel revenue optimization. HMC CRO participants shared their best practices, lessons learned, and ideas for preparing to accelerate as quickly as possible. Here are five of their suggestions.
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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. Brand CRO participants shared their best practices, lessons learned, and ideas for preparing to accelerate as quickly as possible. Here are six of their suggestions, presented in their own words.
Robert Cross, who received the Vanguard Award for Lifetime Achievement in Revenue Optimization, main advice for hospitality revenue optimization professionals right now: This is your time.
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) met on a call to discuss the implications of the coronavirus on the industry from a revenue perspective.
As the coronavirus continues to spread, many hoteliers are wondering how to adjust their revenue strategy. Carter Wilson of STR presented data from the 2009–2010 recession to illustrate the implications of dropping prices versus holding steady during low-demand periods as part of a program in HSMAI’s Confronting Coronavirus webinar series.
The number-one thing to keep in mind, according to Timothy Wiersma, founder and principal of Revenue Generation LLC and chair of HSMAI’s Revenue Optimization Advisory Board: Don’t panic. Wiersma shared some additional advice for revenue professionals in a recent interview with HSMAI.
Now the vice president of business development for North America for Sabre Hospitality Solutions, Pusillo recently shared his professional story with HSMAI — and a snapshot of what makes him tick outside of work.
The rapid spread of the coronavirus from China and beyond has caused a rapid and sudden halt to tourism throughout Asia. Travel, as a luxury expenditure, is often one of the first things we choose to limit when a crisis hits. In times like this, the revenue leader’s response during this time could be crucial on a few different levels. The following are some simple tips and reflections.