The Only Constant is Change, say hotel revenue leaders brought together by IDeaS
C
-Suite Executives in charge of revenue and commercial operations at companies encompassing hundreds of hotels met in London ahead of
World Travel Market (WTM) 2019 to discuss marketplace changes, and the impact of technology on revenue at their hotels across Europe, the Middle East and Africa.
The roundtable is one in a series of C-Suite Thought Leadership events sponsored by Revenue Science pioneer IDeaS. It was moderated by Ally Northfield, Director of Revenue by Design, along with IDeaS Chief Evangelist Klaus Kohlmayr. It was the first in the IDeaS series held in London.
“The general problem of extracting data is a problem globally,” said Michael Marshall, Chief Commercial Officer at Minor Hotels. Having just completed the acquisition of NH Hotels, the brand faces the challenge of synchronising systems and the data they consume, with the potential of realising huge operational and revenue gains at the successful conclusion of the process. The process is well underway. Participants agreed that the integration of revenue and commercial functions is critical.
According to Suzie Thompson, Vice President Commercial at Red Carnation Hotels, “the importance of connecting revenue teams with commercial teams and with things going on globally” is critical. And we are just at the beginning of the effort.
Marc Sandfort, Chief Operating Officer - Hotels at Criterion Capital Limited, Criterion noted that the pressures are even more pronounced for a publically traded company, where revenue decisions must be made quickly and efficiently, but the stakeholders are more diverse.
Furthering the focus on the pace of change, Ally Northfield noted that “the human versus machine” theme is central: What functions can automation perform that humans cannot, or cannot perform as well – and are we ready to accept the trade off?
Mathias Saleborn, Managing Director EMEA & APACE at BridgeStreet wondered how the industry should handle innovation applied to labour, and what are the trade offs for identifying, training and retaining the best human resources to assure building the future of a hotel or brand.
“How do we recruit and retain the best, while realising all the operational efficiencies at the same time?’ wondered Kohlmayr of IDeaS.
After ninety minutes of intensive debate and discussion, all agreed that change is driving hotels across all revenue and commercial functions at hotels, and will do so as far as the eye can see – with innovation the key to accelerated future progress.
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