Personalization is not just about personalized pricing; it’s a revenue driver and powerful conversion tool for all commercial strategy disciplines that is capable of increasing revenues by up to 40%. I brought this topic to HSMAI’s Revenue Optimization Advisory Board for discussion. In this article, I outline our group’s key ideas for effective personalization.
From meeting planners to your team to guests, it is essential to change your communication strategies aligning with the changing landscape and technological advances. Drawing from a recent discussion with HSMAI Rising Sales Leaders, I have identified four actionable insights that can lead to improved communication throughout hotels, spanning across departments, and extending to clients.
As another budget season in the books, it’s a good time to pause and reflect on the lessons learned from this critical period. I talked with the HSMAI Rising Revenue Optimization Leader Council about the challenges faced and strategies employed during this time. Here are our key takeaways for future planning and continuous improvement.
Financial technology (fintech) in hospitality has generally been used to reduce processing costs, provide traveler flexibility, or minimize friction in expense reimbursement for business travelers. The need for simplifying booking, rebooking, and payment processes for travelers has been highlighted post-pandemic. There is a high potential for growth within the industry if tech solutions are properly understood and applied appropriately. In a recent gathering of the HSMAI Marketing Advisory Board, I brought this topic for discussion. This article delves into our discussion, offering insights into how fintech could shape the future of hospitality.