Insights Type: Articles

How Can We Learn from Consumer Behavior to Stay Ahead of Trends?

Jess Robinson, Senior Director of Revenue Management, The Resort at Pelican Hill, Rising Revenue Optimization Leader Council Member  

By understanding consumer behavior in a broader context, hospitality professionals can anticipate customer needs, stay ahead of consumer trends, and spark innovation. During this Rising Leader Council discussion, our panel discussed how data, analytics, and market research from other industries can be leveraged to understand shifting consumer preferences. This knowledge empowers hospitality professionals to enhance hospitality offerings and better cater to evolving consumer preferences.  

Data, analytics, and market research about customer behavior from other industries are powerful resources to stay ahead of consumer trends in the hospitality industry. Broader industry data, such as air traffic and macroeconomic conditions, can be used to forecast demand in hospitality. Flight data can also be analyzed to target marketing efforts effectively.  Consumer trend forecasting resources, such as WGSN, can be used to see customer preferences in lifestyle and food and beverage sectors. Translating these market research insights into action, hospitality offerings can be updated to meet evolving consumer needs.  

Evolving consumer behaviors can also influence the design of digital platforms and hotel booking functionality. Mobile devices are now the primary tool for bookings, and consumers are becoming more price-sensitive and selective, focusing on experiences and rates. Digital platforms need to be more personalized, targeting guests based on their position in the purchasing funnel.  

Understanding consumer preferences helps hotels make informed decisions when enhancing the guest experience. For example, there is a growing trend of partnerships with fashion houses, unique dining experiences, and fitness studios. Collaborating with brands that align with hotel brand and guest profile can attract new customers and enhance the overall stay. Insights on evolving consumer behavior can be used to capitalize on new revenue streams, with growing preferences for wellness offerings, sustainable practices, smart technologies, and personalized services. 

The desire for “third spaces,” community gathering places, is another opportunity for hotels to meet new emerging customer needs. A study found that between 1976 and 2019 the rate of loneliness has increased almost every year among young adults. With the increased hours spent working and social interactions becoming limited to social media, more people are finding themselves without friends or a community. The hospitality industry can fill this gap by creating third spaces. Hotels offer appealing communal gathering spots, provide co-working spaces, and encourage social interaction on property. Not only does this enhance the client experience and appeal to the local community, it and generates food and beverage revenue and increases brand awareness. 

 

Further Reading 

 

Questions for Your Team 

  1. How can data analytics and market research from other industries be leveraged to understand shifting consumer preferences? In what ways can these findings be integrated to enhance hospitality offerings so we can better cater to evolving consumer preferences?  
  2. How are consumer behaviors regarding booking and searching for hotels changing, and how are digital platforms influencing booking decisions?  
  3. Are there opportunities for hotels & resorts to collaborate with other industries or leverage partnerships in trending spaces to align with audiences they’re trying to reach?  
  4. Are there opportunities to capitalize on new revenue streams or ancillary revenue based on evolving customer behavior, such as wellness offerings, sustainable practices, smart technologies, demand for contactless experiences, or preference for personalized service, etc.?  
  5. Third places are disappearing, the rate of loneliness has increased almost every year among young adults. More people are seeking friends and community. What opportunities does this present for hospitality? How can hotels fill the gap for guests and locals?  

Harnessing Hotel Data for Powerful Insights

In today’s fast-moving, data-rich environment, every business leader will benefit from understanding the mechanics of data analytics. In the HSMAI Academy’s Hotel Data Analytics Essentials Course, you will learn how hoteliers capture, store, and analyze data to gain insights that drive smarter business decisions. With a mix of theory and practical exercises, the course will provide you with: 

  1. A basic understanding of data 
  2. Fundamental techniques for unlocking insights from that data 
  3. Ability to tell a story to stakeholders with the data and analytics 

Learn more and Register: HSMAI Academy’s Hotel Data Analytics Essentials Course 

HSMAI Adrian Awards Best Practice: Fairmont Hotel & Resorts – Fairmont Beyond Limits Campaign

The 2024 Adrian Awards are now open! Take some inspiration from one of last year’s platinum winners in Integrated Campaign: Experiential Marketing Winner – Fairmont Hotel & Resorts Submit your entry for the 2024 Adrian Awards by September 9, 2024.  

In our Special Report, we profile all of the Platinum and President’s Award winners — including video and interview footage.  

Fairmont Beyond Limits 

BACKGROUND:
The campaign was created by Fairmont Hotels & Resorts, a Canadian company, with the goal of positioning Fairmont as the leader in one-of-a-kind experiences and redefining luxury by challenging the norms of what is expected. The campaign aimed to curate unprecedented and unexpected experiences for Fairmont guests and loyalty members, and drive significant room night production through a supporting tactical campaign. 

CAMPAIGN:
The campaign featured a series of limited and exclusive activations, such as a symphony in a cenote, an underwater ballet, a vertical stage, a fire and ice dinner, and a cliffside oxygen bar. 

RESULTS:
The campaign generated over 3 billion impressions and was featured in top-tier media outlets. It also exceeded the initial goals of bookings and revenue, with a 22% and 12% increase respectively. 

Elevate Your Presentation Game

Successful hotel sales leaders have mastered the art of the presentation. From messaging to visuals to how they dress, all aspects of the presentation are carefully planned. Presentation skills are among the many topics covered in The Hotel Sales Playbook: Winning Strategies for Success, the study guide for HSMAI Global’s new Certified Hotel Sales Leader (CHSL) certification. 

Here we share excerpts from Chapter 3: Effective Communication and Presentation Skills for Sales Leaders, contributed by Bob Anderson, Chris Hardy, CRME, and Gissell Moronta, CMP. 

Mastering Presentation Skills  

Effective presentation skills are essential for hotel sales leaders to communicate their proposals, ideas, and strategies with impact and influence. By mastering presentation skills, hotel sales leaders can effectively communicate their value proposition, build credibility with stakeholders, and drive business success. Embrace these four strategies and resources to enhance your presentation skills and achieve your goals with confidence:  

  1. Understand the audience.  
  2. Master the slide deck.  
  3. Be deliberate about body language and delivery.  
  4. Engage through storytelling.  
  1. Understand the Audience 

Before delivering a presentation, it’s crucial to understand your audience and their priorities. Consider what information is most important to them and tailor your message accordingly. High-level executives and owners may be primarily interested in revenue generation, cost savings, and strategic growth. By aligning your presentation with their objectives, you can increase engagement and buy-in.  

  1. Master the Slide Deck 

A well-designed slide deck can enhance your presentation and reinforce key points. Follow these best practices:  

  • Emphasize visuals: Use images, graphs, and charts to convey information visually and minimize text.  
  • Keep it simple: Limit each slide to one main idea and use bullet points for clarity.   
  • Use consistent formatting: Maintain a cohesive design theme throughout your presentation for a professional look.   
  • Avoid clutter: Remove unnecessary elements and focus on essential information to avoid overwhelming your audience.  
  1. Be Deliberate About Body Language and Delivery 

Your body language — posture, gestures, facial expressions — along with eye contact, voice, dress, and delivery style play a significant role in how your message is received. Pay attention to the following:  

  • Posture: Stand tall with your shoulders back to convey confidence and authority.  
  • Voice: Speak clearly and confidently, varying your tone and volume to maintain engagement.  
  • Eye contact: Make eye contact with your audience to establish rapport and convey sincerity.  
  • Dress: Dress professionally to reflect your credibility and respect for the occasion.  
  • Non-verbal cues: Be mindful of non-verbal cues such as gestures, hand positions, and facial expressions which can convey enthusiasm and conviction.  
  • Pace: Maintain a steady pace to keep your audience engaged. Avoid speaking too quickly or too slowly.  
  1. Engage Through Storytelling 

Capture your audience’s attention by telling a compelling story that resonates with their interests and experiences. Effective presenters can “paint” their audience into the story they are sharing. Be interesting, authentic, and credible, avoiding monotonous delivery or reading directly from slides. Incorporate personal anecdotes, case studies, or industry insights to bring your message to life and make it memorable.  

  

CHSL Certification 

HSMAI Global’s Certified Hotel Sales Leader (CHSL) certification is designed to recognize the expertise of hotel sales leaders, emphasizing the most up-to-date sales and commercial principles, practices, and strategies.   

The CHSL certification is tailored for hospitality sales leaders who are proficient in leading high-performing teams, demonstrating overall commercial acumen, applying best practices in hotel sales to drive revenue growth, and more.    

Approved applicants will receive a digital copy of the study guide, The Hotel Sales Playbook: Winning Strategies for Success, and complete an online examination covering essential functions of hospitality sales. 

HSMAI Foundation AI Research

The HSMAI Foundation is undertaking a research initiative on how hotels and their partners use AI for recruitment, professional development and retention. The research is being led by Michael J. Goldrich, Founder & Chief Advisor of Vivander Advisors.  

We have launched a survey that aims to gather essential insights and data.  

At the end of the survey, we invite you to share a quote, case study, and/or favorite AI tool. 

Take the Survey: https://form.typeform.com/to/KdaBXl16 

HSMAI Adrian Awards Best Practice: Tourism Australia Come and Say G’Day Campaign

The 2024 Adrian Awards are now open! Take some inspiration from last year’s Public Relations Campaign, Consumer, Winner  – Tourism Australia and their agency, Turner.  Submit your entry for the 2024 Adrian Awards by September 9, 2024.  

In our Special Report, we profile all of the Platinum and President’s Award winners — including video and interview footage.  

BACKGROUND:
Tourism Australia launched its new Come and Say G’Day campaign in the United States on October 19, with the goal of reigniting U.S. traveler interest in the destination as a vacation destination post-pandemic. The campaign introduced the organization’s new Brand Ambassador, Ruby, a souvenir kangaroo, brought to life with CGI animation and voiced by Australian actress and Australian Tourism Ambassador Rose Byrne. 

CAMPAIGN:
The campaign’s objectives included generating 500 million incremental impressions on the campaign’s earned media impressions across print, digital, and broadcast media within the U.S. and driving unique views of the campaign’s hero asset, the G’Day short animated movie. 

RESULTS:
As a result, the campaign goal target was more than doubled, securing 1.06 billion earned media impressions through 516 placements, largely driven by national US TV placements and online syndication of content in US media. Based on ad equivalency of $6.67 million from earned media generated, Tourism Australia recorded an ROI of 10:1. 

HSMAI Top 25 Profile: Michael Sherwood, CRME

HSMAI honored the 2023 Top 25 Extraordinary Minds in Hospitality Sales, Marketing, Revenue Optimization and Distribution — recognizing leaders from hospitality, travel, and tourism organizations for their accomplishments. Michael Sherwood, CRME, Vice President, Revenue Management Services PTG Consulting, is one of these honorees.   

Michael J. Sherwood, CRME, serves as the Vice President of Revenue Management Services at PTG Consulting, overseeing all revenue and distributionrelated consulting services within the company’s hospitality division, for which he played a key role to develop and launch in 2016. In his role, Michael provides comprehensive revenue management and distribution services including revenue-for-hire agreements, revenue management assessments, market feasibility and proformas, thorough multichannel distribution audits, multi-level training programs, and various other revenue and distribution consulting projects.  

In 2018, Michael introduced PTG Consulting Revenue Management Interactive Workshops, designed to impart core fundamentals and high-level strategic elements of revenue management to hotel in-house revenue teams. In addition, he has conducted revenue management and system training in multiple countries across North America, Europe, and Asia.  

Michael has dedicated a majority of his 38+-year career in hospitality to the discipline of revenue management. In addition, his experience includes various on-property positions such as general manager and roles within accounting, front office, and housekeeping. He possesses a deep understanding of both full-service and limited-service operational procedures. Earlier in his career, Michael spent several years as a development analyst for Bristol Hotels and Resorts, where he was responsible for completing market feasibility studies and development proformas for new hotel acquisitions.  

Michael earned his Revenue Management Certification through Cornell University in 2010, and has held the Certified Revenue Management Executive (CRME) designation from HSAMI since 2013. 

KEY ACCOMPLISHMENT: Introduced Revenue Management Interactive Workshops, significantly improving revenue management skills across the hospitality industry.  

WHAT INSPIRED THIS NOMINATION?  

“Sherwood’s depth of knowledge and innovative training programs have made a profound impact on the industry. 

Nominations are now open for the 2024 HSMAI Top 25! Deadline is September 9. 

HSMAI Adrian Awards Best Practice: The South Dakota Corn-Bassador

The 2024 Adrian Awards are now open! Take some inspiration from last year’s Public Relations Best of Show winner – The South Dakota Corn-Bassador South Dakota Department of Tourism, and their agency: Lou Hammond Group.  Submit your entry for the 2024 Adrian Awards by September 9, 2024. 

In our Special Report, we profile all of the Platinum and President’s Award winners — including video and interview footage. 

BACKGROUND: 

The goal of the campaign was to harness the viral exposure of the “Corn Kid” to propel South Dakota to a national conversation and reach new audiences. The campaign aimed to convert Tariq, the “Corn Kid,” to be a South Dakota ambassador/spokesperson, merging his love for corn with a new appreciation for family fun in the state. The campaign also aimed to engage state officials and tourism partners to educate a national audience about the diverse, lesser-known regions in South Dakota and develop resources for traveler use to plan a visit. The campaign had a goal to secure 100 earned editorial placements and 500,000 social media engagements that promote South Dakota’s family-friendly offerings and agritourism. 

CAMPAIGN: 

The campaign invited Tariq to visit South Dakota’s corn-related attractions and other tourism sites and honored him as the first-ever “Corn-Bassador” with a proclamation from the governor. The campaign also developed a Corn-Bassador itinerary for travelers to follow Tariq’s footsteps. 

RESULTS: 

The campaign generated more than 2,320 earned media placements, 46.6B+ impressions, $69.7M+ in media value, and 8.3M+ social media engagements. The campaign also contributed to a record-breaking visitor spending in South Dakota and increased traffic to the lesser-known regions featured in the itinerary. 

Top Digital Trends for Hospitality C-Suite to Future Proof Your Digital Footprint

Milestone partnered with Dorothy Dowling, former CMO of Best Western Hotels and HSMAI, to create an eBook on key digital marketing trends for hospitality executives to future proof their digital presence. It covers the latest advancements in AI, Google’s search algorithm, personalization, videos and images, and ancillary and group business, and how these trends are set to reshape the digital landscape. The eBook also includes insights shared with Dorothy Dowing, by key industry leaders on how their organizations are leveraging these trends to enhance their digital presence.

Top Digital Trends for Hospitality C-Suite to Future Proof Your Digital Footprint Ebook (milestoneinternet.com)

HSMAI Top 25 Profile: Mark Fancourt

HSMAI honored the 2023 Top 25 Extraordinary Minds in Hospitality Sales, Marketing, Revenue Optimization and Distribution — recognizing leaders from hospitality, travel, and tourism organizations for their accomplishments. Mark Fancourt, Co-Founder & Principal at TRAVHOTECH is one of these honorees.  

Mark Fancourt’s international career in the hospitality and travel industry spans three decades, characterized by a progressive and globally informed approach. Serving as a forward-thinking corporate hotelier, technology provider, and management consultant, Fancourt consistently embraces innovation with a proactive mindset toward enablement and change. His brainchild, TRAVHOTECH, encapsulates this ethos by integrating business and technology expertise, providing clients with a dynamic competitive edge in the market. Fancourt’s executive leadership roles at renowned establishments such as MGM Resorts, Micros Fidelio, Pan Pacific, and Qantas not only underscore his commitment to pushing industry boundaries but also highlight his capacity to instigate positive change at an organizational level. His extensive global experience positions him as a strategic visionary adept at navigating the complexities of the ever-evolving industry landscape.  

Key Accomplishment: Mark has been pivotal in driving innovation and strategic thinking in hospitality technology, significantly impacting the industry’s evolution.  

What Inspired This Nomination? 

Fancourt’s forward-thinking and expertise have positioned TRAVHOTECH as a leading consultancy in hospitality technology. 

Q&A with Mark Fancourt  

What keeps you inspired? The perpetual evolution of the travel and hospitality technology landscape fuels my enthusiasm, presenting a myriad of new possibilities each day. Embracing the constant change, I find joy in steering away from routine and exploring the vast array of challenges and innovations. My passion lies in leveraging thought leadership to not only navigate this dynamic terrain but also to actively contribute to the improvement of business environments within the industry.  

Nominations are now open for the 2024 HSMAI Top 25! Deadline is September 9.