HSMAI organizes a round table for hotel business executives
HSMAI brought together business leaders from 11 brands, 20 management companies and 10 property groups to discuss evolving trends in revenue generation, business strategy and consumer behavior, as well as opportunities to consider a different future to maximize profitability, at an executive roundtable in Dallas on September 30 as part of HSMAI’s Business Strategy Week.
Adam Sacks, President of Tourism Economics, gave an opening presentation on the economic outlook for hospitality and travel, expanding on his main presentation at HSMAI’s ROC Americas event on September 29. In a follow-up discussion focused on hospitality lessons from the pandemic and prospects for recovery, roundtable participants offered insights that Sacks grouped into three main points:
- We benefited from better technology and the fact that there were fewer people employed who could potentially override revenue management systems.
- We had the confidence to maintain the rates because everyone understood the significant and real increase in operating costs.
- When cash flow is put to the test, everyone focuses on profit metrics, not just income-oriented metrics.
“For years, the industry has blamed the fragmentation of our brand, management, and ownership group structure for many challenges,” said Robert A. Gilbert, President and CEO of HSMAI. “By bringing these groups together, HSMAI has provided a forum for discussion between business leaders from all three types of businesses that can bring closer understanding and alignment. “
In parallel sessions for brand revenue managers, hotel management company revenue managers and property group sales managers, attendees discussed type-specific recovery strategies and talent management solutions. business.
Companies represented included Aimbridge Hospitality, Apple REIT, Ashford Hospitality Trust, Best Western Hotels and Resorts, BRE Hotels and Resorts, Chesapeake Hospitality, Concord Hospitality Enterprises, Crescent Hotels & Resorts, G6 Hospitality, Highgate Hotels, Host Hotels and Resorts, Hotel Investment Services, HRI Lodging LLC, HVS Asset Management, IHG, Kessler Collection, Las Vegas Sands Corp. (Venetian / Palazzo), Marcus Hotels & Resorts, Margaritaville, McNeill Hotels, NCG Hotels, Noble Investment Group, Ohana Real Estate Group, Omni Hotels & Resorts, Outrigger Hotel Group, Pebblebrook Hotel Trust, Playa Hotels and Resorts, Preferred Hotel Group / PHG Consulting, Prism Hotels & Resorts, Red Roof Inn, Regency Hotel Management, Roch Capital, Rosewood Hotels & Resorts, SBE Lifestyle Hospitality, Shaner Hotel Corporation, Sonesta + RLHC, Stonebridge Companies, Summit Hotel Properties, Vail Resorts, VRI Americas and Wyndham Hotels and Resorts.
The group will meet again during HSMAI Business Strategy Week in Orlando in June 2022.