Key Takeaways so far:

The conference focused on several key takeaways for hoteliers. The first was the forecast that aggregate travel volumes, including inbound and domestic travel, will recover pre-pandemic levels in the Asia Pacific (APAC) region, with differences across destinations. While economic uncertainty remains, inflationary pressures are easing, and a global recession is unlikely. The pace of the return of Chinese travelers remains a key area of uncertainty for APAC destinations.

The Traveler Tribes of 2033 research conducted by Amadeus highlighted four tribes: Travel Tech-fluencers, Pioneering Pathfinders, Excited Experientalists, and Memory Makers. The study revealed that these tribes are already influencing the travel industry, and hoteliers must engage with them in the future. Key takeaways included identifying key data points, focusing on the experience economy, and driving purpose-driven travel. The most important thing to drive direct guests is first-party data, which enables hoteliers to target guests with the right information at the right time.

To build pricing strategies in today’s reality, hotels must consider continued global instability, a push for sustainability, and dynamic pricing. Personalized and attribute-based pricing strategies are the future, and bundled pricing must be used to cater to the new traveler tribes. Upselling and upgrades must be deployed for pre-arrival, on-arrival, and in-stay upselling, with incentives offered to front office staff, and priority given to loyal guests.

Leveraging AI to optimize revenue: This session discusses how AI can help increase hotel revenues and why it’s important to use AI to stay ahead of the competition. It also addresses two myths about AI, including the idea that it takes away control and that regular guests don’t accept price changes. The article argues that AI can actually make revenue management stronger and that regular guests can be segmented and targeted with AI to determine what they are willing to pay.

Sustainability was another key theme of the conference, with the focus on starting small and taking every step to promote sustainability. Collaborating with government agencies, CVBs, venues, and suppliers can have a positive impact, and top cities for sustainability in APAC were identified, with Tokyo at the top of the list. The PARKROYAL COLLECTION brand was cited as an example of best practices in sustainability, with an emphasis on the environment, economic, and social pillars. Rejuvenation and integrating loyalty and digital with sustainability were discussed, with the message that sustainability should be at the heart of a hotel’s business strategy.