During one day-long global experience, Hospitality Sales and Marketing Association International (HSMAI) leaders collaborated to exchange industry recovery ideas and revenue optimization revitalization strategies during ROC@Home, on Wednesday, June 17, 2020.
HSMAI ROC@Home brought together nearly 2,500 participants from six continents and featured more than 30 live education sessions that were led by hospitality revenue optimization experts from around the world to explore the state of hospitality in different regions, reset to adjust to current circumstances, and evaluate their approaches to revenue optimization going forward. At the heart of ROC@Home was an exclusive toolkit that is full of resources, tools, and ideas to fuel hotel revenue recovery. The HSMAI ROC@Home toolkit is now available for download.
The toolkit includes insights from 10 global hotel company CEOs:
- Keith Barr, CEO, InterContinental Hotels Group
- Geoff Ballotti, president, and CEO, Wyndham Hotels & Resorts
- Puneet Chhatwal, MD, and CEO, Indian Hotels Company
- Guy Hutchinson, president, and CEO, Rotana Hotel Management Corporation
- David Kong, president, and CEO, BWH Hotel Group
- Chris Nassetta, president, and CEO, Hilton
- Anthony Ross, CEO, JA Hotels & Resorts
- Torgeir Silseth, president, and CEO, Nordic Choice Hotels
- Arne Sorenson, president, and CEO, Marriott International
- Michelle Woodley, president, Preferred Hotels & Resorts
“As we work toward recovery, I would encourage revenue leaders to focus on uncovering and capturing the demand that does exist. It’s also important to remember that markets will recover at different times and places, so you want to have strategies that can be easily adapted to the needs of the individual market,” said Nassetta.
“We have never seen so much collaboration across the global hospitality community,” said Robert A. Gilbert, CHME, CHBA, president and CEO of HSMAI. “This is a major milestone that has opened the door to increased collaboration and connectivity in the digital age. The key insights and ideas that our revenue optimization leaders shared are extremely valuable and will aid in the recovery of our industry.”
As a part of ROC@Home, HSMAI conducted a Hospitality Post Pandemic Plans survey that ran between May 20th– June 2nd, 2020. The survey gathered insights from hotel executives. Key survey findings report:
- 44% of the single properties and 37% of the local brands are focusing on the short term.
- 17% of the international brands are considering a long-term path to recovery (up to 2023).
- 94% of hotel executives reported increasing their focus on the local and domestic markets.
- 85% of hotels are focusing on staycations, 84% on leisure individuals and 76% on local corporations as the return of International Corporate and MICE segments begin.
- 79% of hotel executives are focusing on Dynamic contracting
More insights on the survey are available on the HSMAI Global Coronavirus Recovery Resources center.
HSMAI ROC@Home live session recordings can be purchased for $25 (USD), which includes all 30+ sessions, at roc-home.heysummit.com. Save the dates for more revenue optimization educational sessions at regional HSMAI ROC conferences, including:
- HSMAI ROC Americas conference in San Antonio, Texas, USA, October 26-27, 2020.
- HSMAI ROC Middle East, December 8, 2020
- HSMAI ROC Brasil, December 12, 2020
- HSMAI ROC Europe in London, England, January 26, 2021.
- HSMAI ROC Asia Pacific, June 2021, Singapore
Thank you to the HSMAI ROC@Home Global Partners for your support: Cendyn, Cvent, IDeaS, Rate Gain, and OTA Insight.
HSMAI is a global organization of sales, marketing, and revenue optimization professionals representing all segments of the hospitality industry. With a strong focus on education, HSMAI leads the way in identifying and communicating trends in the hospitality industry. Operating as a leading voice for both hospitality and for the sales, marketing, and revenue optimization disciplines, HSMAI connects its members with customers. Founded in the United States in 1927, HSMAI is a membership organization comprising 5,000 members from 35 countries and chapters worldwide. HSMAI operates around the globe via regional boards of directors and staff. There are four regions: the Americas, Asia Pacific, Europe, and the Middle East. Each region has signature programs and services for association members. HSMAI has a Global board which is made up of delegates from each region.