HSMAI Hosts Unique Roundtable for Hospitality Commercial Executives
HSMAI convened commercial executives from 11 brands, 20 management companies, and 10 ownership groups to discuss evolving trends in revenue generation, commercial strategy, and consumer behavior as well as the opportunities to envision a different future to optimize profitability at an executive roundtable in Dallas on Sept. 30 as part of HSMAI’s Commercial Strategy Week.
Adam Sacks, president of Tourism Economics, gave an opening presentation on the economic outlook for hospitality and travel, expanding on his keynote presentation at HSMAI’s ROC Americas event on Sept. 29. In a follow-up discussion focused on hospitality lessons learned from the pandemic and prospects for recovery, roundtable attendees offered insights that Sacks grouped into three major takeaways:
- We benefited from better technology and the fact that fewer people were employed who could potentially override revenue management systems.
- We had the confidence to hold rates because everyone understood the significant and real increased costs of operations.
- When cash flow is challenged, everyone focuses on profit metrics and not just revenue-centric metrics.
“For years, the industry has blamed the fragmentation of our structure of brands, management companies, and ownership groups as the reason for many challenges,” said Robert A. Gilbert, CHME, CHBA, president and CEO of HSMAI. “By bringing these groups together, HSMAI has provided a forum for discussion between commercial leaders of the three company types that can bridge better understanding and alignment.”
In concurrent breakout sessions for brand revenue executives, hotel management company revenue executives, and ownership group commercial executives, attendees discussed recovery strategies and talent solutions unique to each company type.
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 convene again at HSMAI’s Commercial Strategy Week in Orlando in June of 2022. For media inquiries and additional questions, contact Kaitlin Dunn, [email protected]. For partnership inquiries for future roundtables, contact Elise Rheinhart, [email protected].
About HSMAI
The Hospitality Sales & Marketing Association International (HSMAI) is committed to growing business for hotels and their partners and is the industry's leading advocate for intelligent, sustainable hotel revenue growth. The association provides hotel professionals and their partners with tools, insights, and expertise to fuel sales, inspire marketing, and optimize revenue through programs such as the Marketing Strategy Conference, Adrian Awards, Sales Leader Forum, and HSMAI ROC. Founded in 1927, HSMAI is a membership organization comprising more than 5,000 members worldwide, with 40 chapters in the Americas Region. Connect with HSMAI at hsmai.org.
