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.

FASTRACK YOUR REVENUE PROFICIENCY!

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.

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ARE YOU CERTIFIED?

Get certified and boost your professional status. Executive certification offers you the chance to confirm your knowledge, experience, and capabilities in the field of revenue management.  Get your CRME designation from HSMAI now….read more

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HOTEL REVENUE INSIGHTS

Working with OTAs: for better or for worse?

A study by Peter O’Connor, Professor of Strategy at the University of South Australia Business School, aims to clarify the OTA question by empirically investigating the added value of OTA participation for hotel properties and its impact on bottom-line profitability. Unlike previous studies, which have for the most part used a conceptual, theoretical or even speculative perspective, this study makes use of comprehensive, multi-year, financial data to empirically establish whether, on balance, the benefits of OTA participation for a hotel property outweigh the (financial and other) costs. The results help to clarify whether it is worthwhile to work with online intermediaries in addition to making the economic and administrative effort to drive direct online sales. Read the Industry report.. For Academics, the full research paper is available:  Abdullah, S., Van Cauwenberge, P., Vander Bauwhede, H. and O’Connor, P. (2022), "The indirect distribution dilemma: assessing the financial impact of participation in Booking.com for hotels", Tourism Review, https://doi.org/10.1108/TR-03-2020-0101 [vc_column_text css=".vc_custom_1623814375005{margin-bottom: 0px...

COVID Best Practices that are here to stay!

16th June 2021 Jackie Douglas, President, Hospitality Sales & Marketing Association International (HSMAI) The Hospitality Sales & Marketing Association International’s (HSMAI) Marketing Advisory Board in Australia & Asia Pacific spent time recently discussing the top issues facing hotels and the professionals leading sales and marketing efforts. Surprisingly, the issues themselves have changed since our last “scouting” exercise conducted in November 2020 and the context has shifted to the “new abnormal.” In November, we talked a lot about functional changes in the organisation.  The teams were focussing on things like automation, digitization, cleaning data, rethinking who our customers are, developing “out of the box” creative partnerships with goods/services we never would have thought of previously and the need to shorten the lead-time to launch campaigns when the COVID restrictions are changing day-to-day. In November 2020, the consensus was that the pandemic had forced us to focus on efficiencies and measuring performance to enable us to use our budget more wisely.   We are not duplicating work and we’re much better at sharing skills across functional areas. There was also a hint of what was to come in regards...

Service hotel person

Opportunities for the post-pandemic Guest

There is no doubt that the coronavirus pandemic has wreaked havoc on the global hotel industry.  It has led to the loss of millions of jobs and billions of dollars, not to mention the countless business trips and vacations that were disrupted. But the pandemic presents opportunities as well; but only if we can properly harness the changing consumer behavior once the recovery begins. First, we must examine where we are currently, and how we got here.  Around the turn of the new millennium, the first on-line travel agencies (OTAs) began to make their appearance; Expedia Group and Travelocity began in 1996, Booking Holdings began in 1997, and Orbitz began in 2001. Since then, OTAs have come to dominate the landscape when it comes to searching for, and booking, lodging.   About half of travellers under the age of 55 prefer to book hotel accommodations through metasearch or OTAs.  This migration to intermediary channels has led to two trends that have threatened hotel revenues and reduced the effectiveness of revenue management practices.  Those trends...

Hospitality Commercial Leader Has Finally Emerged

Hospitality Commercial Leader Has Finally Emerged Over the last few years, debate has ensued about whether the word “commercial” would appear, or stick, in the titles for roles that traditionally were hospitality sales, marketing, revenue, distribution, or loyalty.  At HSMAI Americas’ recent Commercial Strategy Week in Orlando, many of the 750 hospitality leaders in attendance debated, defined, redefined, and defended the label repeatedly. The social media buzz after the event continued the conversation. I’m proud that HSMAI leads the discussion around the world. The topic was highlighted last month at HSMAI Asia Pacific’s ROC and Commercial Executive Roundtable in Singapore and HSMAI Europe’s Commercial Strategy Week in London. I know the dialogue will continue in November in Dubai at the HSMAI Middle East’s Commercial Strategy Conference and ROC. The mix of titles we see now in our membership – particularly those above property – continues to evolve. Over the last two years, the number of hotel members in our database with the word “commercial” in their title has more than doubled. What is changing?  Companies that broke down silos before the pandemic were among the first to add commercial leaders – and titles – to their teams. The career path to that role may have...

25 Point Checklist to audit your hotel’s total online presence

25 Point Checklist to audit your hotel's total online presence This is a fantastic overview of what you need to keep in mind when considering your online digital strategy. This article was originally posted by By Stephanie Smith Founder & CEO, Cogwheel Marketing on Hotel Business Review on June 12, 2022. How does your hotel or resort property measure up? Your digital presence is more than just your hotel’s website. Studies show that people check between 7 and 35 sites before booking a hotel. Therefore, potential guests need to see you multiple times before your hotel is a part of their consideration set. Your hotel needs both exposure to the right target audience as well as a consistent presence to get them to check rates then book. Are you telling a consistent story across all your digital channels? Since the pandemic, many hotels have had to pivot their target audience. But, not all markets have enough business to go around. This 25-point checklist is intended to identify gaps in your total online digital strategy for most branded hotels. Once you identify where your needs are, you can begin working out a strategy to increase your hotel’s total online presence. 1. Market Trends Visit Trends.Google.com (free) to search...

The Chief Sales Officer Perspective

On Business Travel, Pricing and Talent HSMAI recently held its Chief Sales Officer Virtual Executive Roundtable, a discussion that included participants from Accor, Best Western Hotels, Drury Hotels, Extended Stay America, Graduate Hotels, IHG, Loews Hotels & Co, MGM Resorts International, Omni Hotels & Resorts, Preferred Hotels & Resorts, Red Roof Inn, and Rosewood Hotel Group. During the roundtable, the group addressed several topics, including the return of business travel, communicating pricing to customers, and best practices for commercial talent today. Here’s how they responded to survey questions about these pressing issues. Business Travel What are you watching to monitor the return of the business travel segment? Customer feedback and financial trends Interest/volume by segment Air lift Measuring results for specific accounts from 2019 Evergreen contracts What are you anticipating to be different in this year’s RFP process? Dynamic pricing Inflation Inclusion of more properties Rate increases and lots of negotiations Less resistance to rate growth Pricing What is a best practice to articulate price increases to customers? Outline operational cost variances year over year Must demonstrate value and have competitive rate strategies It can be difficult to negotiate with business travel customers; must be flexible Talent Best Practices What is a best practice for retaining and...

Regional Conferences

Events for Revenue people

Events

Regional Conferences

Events for Revenue people

REVENUE ARTICLES

REVENUE ROUNDTABLES

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 Management

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.

Administrative Service

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

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