Articles in this issue’s HSMAI section offer perspective on different aspects of commercial strategy for revenue optimization: personalization, trends and forecast to inform strategy, a customer journey, and loyalty rewards programs.
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. 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.
As you read these articles, it’s important to think about how disruption drives change in the industry. Kelly McGuire and Pete Mehr discuss the importance of building the strategic underpinnings of personalized guest experience before investing in technology. Jennifer Hill gives perspective on the changes in the industry over the last 36 months and what commercial strategy teams should keep in mind as they look to the future.
In addition, Michael Goldrich takes us on a customer journey from looker to booker and points out ways to optimize revenue at every stage in the journey, while Shayne Paddock goes into how reimagining the loyalty programs to gain return customers, even leisure travelers.
As our industry emerges from one of the greatest shocks it has ever experienced, demand may be resilient, but hotels and hotel companies must adapt their organizational structures to streamline functions that attract, convert, and optimize demand in a holistic manner that is more effective and efficient than ever before. Those that do will not only survive but thrive.
Robert A. Gilbert, CHME, CHBA
President and CEO
Hospitality Sales & Marketing Association International (HSMAI)