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HSMAI Foundation hosted a series of three Americas Faculty forums, with faculty specializing in hospitality sales, marketing, and revenue education. We gathered each group to discuss emerging trends, prevailing challenges, and how HSMAI and the HSMAI Foundation can partner to shape the future of hospitality education. These discussions highlighted a shift towards integrating technological advancements and strategic thinking into the curriculum.
Evolving Trends in Hospitality Education
A key trend that emerged from the forums is the integration of digital assets and artificial intelligence (AI) into educational frameworks. As the hospitality sector evolves, there’s a marked shift towards a holistic approach that combines marketing, sales, and revenue management. The focus is now on developing commercial practitioners who are adept across various domains rather than in single specialized areas.
Challenges Faced by Hospitality Faculties
One of the prominent challenges discussed was keeping academic programs aligned with the rapidly changing landscape of the hospitality industry. The faculties are tasked with producing graduates who are not only academically proficient but also industry-ready, particularly in nuanced fields like revenue management. Balancing the infusion of cutting-edge technology with foundational strategic business practices remains a critical challenge for educators.
Innovations and Solutions
In response to these challenges, there is a notable push towards innovative educational models. Programs that integrate marketing, revenue management, and broader commercial courses are being developed to better prepare students for industry realities. Initiatives like commercial case competitions are being introduced to stimulate real-world problem-solving skills. Moreover, the concept of total revenue management, which applies theoretical practices to optimize revenue across diverse products and services, is gaining traction. Across all three disciplines the educators were most often partnering with industry through guest speaker programs, with class projects not far behind.
HSMAI’s Role
HSMAI and the HSMAI Foundation are pivotal in bridging the gap between academia and industry. We offer invaluable resources such as case studies, scholarships, and paid internship opportunities, enhancing student engagement and curriculum development. Additionally, we facilitate industry engagement through guest speakers and faculty internships, providing real-world insights that are crucial for an up-to-date curriculum. When asked how to encourage students to pursue careers in Sales, Marketing, and Revenue Optimization, here is how they ranked opportunities:
Thank you to the faculty from participating colleges and universities:
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