commercial strategy
Defining Blended Travel and Its TAM Through Marriott Hotel Examples
Adam and Larry Mogelonsky | October 30, 2024
By Adam and Larry Mogelonsky Every hotelier is already thinking about ways to take advantage of the growth of remote work and bleisure in the post-pandemic travel landscape. Best described now as ‘blended travel’ due to the many different types of travel it encompasses, let’s take a look at what Marriott is doing so you can learn from their example, as well as convince you a bit more about the opportunity here – the total addressable market (TAM) as they say. Whether remote work, temporary relocation, staycation or digital nomadism, with these emerging blended travel dispositions in mind, it behooves hotels to adjust their commerc...
From Revenue to Profit: A Culture Shift in Hotel Commercial Strategy
Otelier | August 8, 2024
Amid challenges like flatlining demand and increased pricing pressure, forward-thinking hotel commercial strategy teams are shifting their focus from driving revenue to driving profitability. By Jason Q. Freed Hospitality Data Evangelist, Otelier As pandemic-induced “revenge travel” wanes and inflation continues to squeeze travelers’ wallets, many hotels are finding rising operating costs are outpacing revenue growth. The result is a widespread decline in profit margins. Given these conditions, for hotel owners and operators, focusing on strategies to drive profitability over the near term is critical. In many cases, this requires ...
BYD Lofts Grows Revenues by 15 Percent With IDeaS G3 RMS
IDeaS | July 2, 2024
SINGAPORE – July 2, 2024 – IDeaS, a SAS company and the world’s leading provider of hotel revenue management software and services, announced today that BYD Lofts Boutique Hotel & Serviced Apartments had grown its property revenues by 15 percent with IDeaS G3 Revenue Management System after adopting the system to automate daily pricing activity and enhance its commercial strategies. BYD Lofts is situated 200 meters from Patong Beach in Thailand. It offers a range of upscale rooms, suites, and fully furnished serviced apartments. In a highly competitive resort and holiday market, BYD Lofts needed to move beyond manual-based revenue ...
HSMAI Foundation Releases Special Report on The Transformational Power of ‘Commercial’
the HSMAI Foundation | May 24, 2024
McLean, VA (May 24, 2024) – The Hospitality Sales & Marketing Association International (HSMAI) Foundation has released a special report, “From Solos to Symphony. The Transformational Power of ‘Commercial’,” which outlines the findings of the HSMAI Foundation’s study on how industry professionals conceptualize the role and scope of commercial strategy within the hotel industry. The report is authored by Breffni M. Noone, Associate Professor at The Pennsylvania State University, and Chris Boyd, Revenue Management Specialist at Hilton. As ‘Commercial’ and ‘Commercial Strategy’ are relatively new additions to the ho...
HSMAI Takes Commercial Strategy to the Next Level With Commercial Effectiveness Organizational Assessment
HSMAI | April 23, 2024
McLean, VA (April 23, 2024) – The Hospitality Sales and Marketing Association International (HSMAI) has announced the launch of the Commercial Effectiveness Organizational Assessment, a tool providing a structured framework for assessing where a hotel organization’s commercial structure is strong and where improvements are needed. The tool and accompanying report, Taking Commercial Strategy to the Next Level, are a free member benefit for HSMAI members and available to the industry for purchase. The goal of the HSMAI Commercial Effectiveness Organizational Assessment is to allow a hotel organization to assess and score their impleme...
Special Report Highlights Hotel Investor Attitudes, Opportunities for Revenue Management Technology
IDeaS | September 7, 2023
Survey data reveals revenue technology is seen as critical for maximizing asset value and enabling commercial strategies MINNEAPOLIS—Sept. 6, 2023 — IDeaS, a SAS, company, the world’s leading provider of hotel revenue management software and services, released a special report in line with industry budget season. The report “Unlocking Hotel Performance: The Power of Revenue Management Technology Today,” includes key insights into how investors view revenue technologies, the role of artificial intelligence in hospitality, and how technology is reshaping hospitality commercial organizations. Key takeaways include: • Increa...
Hotel Marketing KPIs Must Change to Achieve Commercial Strategy
Stephanie Sparks Smith | September 5, 2023
By Stephanie Smith If you are measuring your marketing success today the same way you did last year, you are not providing the value that your external stakeholders and ownership expect and that your internal business partners, like sales and revenue strategy, deserve. It is not enough anymore to measure how many guest rooms are booked per dollar spent on your paid marketing. Instead, focus your attention on two specific areas: Are my marketing plays moving the needle relative to the competition in the channels of business that are actually booking right now? Are the dollars invested really changing the overall revenue picture of t...
