HSMAI has been a strong advocate for breaking down silos and building alignment across business teams, including Sales, Distribution, Marketing, and Revenue Management.
By leveraging today's sophisticated demand forecasting capabilities in RMSs, hoteliers can benefit from better-planned and personalized marketing campaigns and promotional efforts that ultimately generate better results.
Some important trends to consider:
- Build better alignment between RM, Distribution, Sales and Marketing
General objectives must be shared, as well as communication channels and access to information and reports.
- Maintain focus on the financial results of the group segment
The strong performance of these groups has been a boon for many hoteliers recently, and there's likely more to be done. It's worth analyzing whether the Sales Manager and RM have effective ways to assess the impact of displaced business (through displacement calculations) when evaluating opportunities.
- Catering to experience-driven leisure travelers
Generations Y and Z travelers represent a growing proportion of the leisure travel market, and it's clear that many are seeking more authentic ways to experience the world around them. This presents an opportunity for hotels to review their strategies for attracting new business, as well as the technologies needed to meet the personalized preferences of this guest segment.
Therefore, it's essential to think locally when developing experience packages and partnerships. There may be opportunities to develop memorable, authentic, and sustainable experiences that meet many of the needs of younger travelers.
- Expansion and maturation of Revenue Management practices
The global hotel industry is making significant progress in adopting revenue management technologies and practices, and this will accelerate in 2025. More hoteliers understand the value of sophisticated revenue management strategies, and it's now easier than ever to find tools that fit their properties' needs.
Therefore, it's critical to understand your property's technology needs and when you last assessed them, as new solutions, technology integrations, and more can change the calculus of what's viable for your business.
- Focus on Resort Profitability
With improved data connectivity between technology systems, hoteliers can uncover opportunities to improve margins and ultimately adapt their strategies to prioritize acquiring their most profitable business.
Taking a holistic view of guest spending and service costs is ideal, so it's time to ask yourself where the gaps in these aspects may be and how technology can help create a more complete picture of your guests.