HSMAI convened leaders from big brands, small brands and Parks for a great discussion on the issues and opportunities in the Pacific markets. The topics were varied and inevitably show us the issues on the minds of senior leaders in 2023. HSMAI Sydney Revenue Leaders Roundtable: Key Insights for Hoteliers 30th August, 2023 The HSMAI Sydney Revenue Leaders Roundtable held on August 30th, 2023 brought forth enlightening discussions targeting hoteliers, especially those in Revenue Management and Commercial roles. Here are the top insights from this significant assembly: 1. Business Volume Challenges: Business Travel Dips: Business travel stands at a mere 30% of pre-COVID figures, causing hotels to pivot and focus more on domestic tourism. Changing Dynamics in Asian Markets: Chinese business travel remains sluggish. However, it's notable that younger Chinese travelers prefer independent over group journeys. Positive news is the resurgence in business from Indonesia, Korea, and Japan. Reassessing Competitive Sets: With shifting market segments, 2024 is the year for hotels to reconsider their CompSet. Airline Constraints: Sydney's hotel industry faces challenges due to airline seat capacities. Conversely, Melbourne is battling increased...
My Revenue Hub
The HSMAI Revenue Advisory Board have selected specific news, insights, education, jobs and more. Let us do the work filtering the relevant information for you.
It takes a long time to train a new person for the revenue Department. Speed up the process with an online study program. HSMAI have developed a course especially for people who have less than two years experience in revenue functions. The “Certificate in Revenue Management (Hospitality)”. Start anytime, study anywhere.
HOTEL REVENUE INSIGHTS
Artificial Intelligence (AI) in Hotel Operations Artificial Intelligence is rapidly permeating the hospitality industry, with chatbots at the forefront. One prominent hotelier recounted the initial challenges faced with chatbot implementation. However, as the technology adapted and learned, it effectively reduced phone call volumes. The affordability of such solutions, even on a subscription basis, makes them invaluable for hotels. Interestingly, even smaller and regional properties have found substantial value in deploying chatbots, suggesting the broad scalability of this technology. However, it's noteworthy that not all brands have embraced AI—often due to conservative mindsets. Further enhancing guest service, DialPad offers transcription services, converting phone call interactions into texts which are then seamlessly integrated with the Property Management System (PMS). Furthermore, proactive engagement via email and text invites guests to communicate through chatbots, enhancing their stay experience. The Evolving Landscape of Talent in Hospitality Talent management remains a top concern. With retention rates wavering, the focus on effective onboarding has intensified, utilizing platforms like eHotelier for expedited training. Although the inclination is to hire experienced industry professionals, there's a notable challenge in doing so. The rising...
The timeless art of guest loyalty: Making your guest feel special Timo Lorenzen Strategic leader, motivated to organize initiatives for change. Quick to see opportunities for improvement and conceptualize new solutions. As a natural leader, I enjoy marshaling resources & developing long-range plans As a general manager of a boutique hotel with a long-standing career in the hospitality industry, I've witnessed numerous changes over the many years (Yes, I'm getting old). Yet, besides all the changes, one principle has remained constant: guest loyalty is cultivated by making people feel special. It is an art that, when mastered, not only enriches the guest experience but also ensures their return, ultimately contributing to the hotel's success. In this article, I will share some insights on how to create this special feel and maintain it affordably, especially for small business owners. Let's get started... Personalised Communication The foundation of making guests feel special lies in personalised communication. Addressing guests by their names without overdoing it, remembering their preferences, and acknowledging special occasions like birthdays or anniversaries can leave a lasting impression. Invest in a reliable customer relationship management (CRM) system to keep track of guest details and preferences. With the right data, your team can create personalised...
Events for Revenue people
2) Chief Revenue Officers Executive Roundtable
21st March, 2018 – Singapore
Chief Revenue Officers Roundtable – Australia/Pacific
26th March, 2018 – Sydney
Chief Revenue Officers Roundtable – Australia/Pacific
25th July, 2018 – Sydney
Chief Revenue Officers Executive Roundtable
17th October, 2018 – Singapore
Note: Roundtables are Invitation-only events
Please contact us if you lead the Revenue function for your hotel chain or company and you would like to be on the invitation list.
Economics and Business
Service design is a form of conceptual design that involves the activity of planning and organizing people, infrastructure, communication and material components of a service in order to improve its quality and the interaction between the service provider and its customers.
Service design may function as a way to inform changes to an existing service or create a new service entirely. The purpose of service design methodologies is to establish best practices for designing services according to both the needs of customers and the competencies and capabilities of service providers.
If a successful method of service design is employed, the service will be user-friendly and relevant to the customers, while being sustainable and competitive for the service provider. For this purpose, service design uses methods and tools derived from different disciplines, ranging from ethnography