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It goes without saying that we’ve had a lot of change over the last several years – some as a direct result of the pandemic and post-pandemic era, and some changes have been unrelated, like the surge of AI tools over the last year and the marked generational shift.
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.
It is no secret that we are still facing a labor shortage. However, the hospitality industry isn’t just grappling with a talent shortage, we are dealing with a retention problem. The answer may lie in the way we approach leadership. I brought this topic to the HSMAI Revenue Optimization Advisory Board to discuss purpose-driven leadership in revenue optimization.
We have all been there. You are scrolling through rates for a hotel room, find one that looks great, and then you see the dreaded words “additional fees may apply.” Suddenly, that great rate doesn’t seem so great anymore. As a consumer, it can be frustrating to see those additional fees. Often, we don’t even know what they are for. What is a kitchen fee? What does the service fee cover? How much are they going to be?