
What’s on the minds of Revenue Leaders in Australia?
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...