Hotel Group Meetings: Uncommon Destinations

The last few years have been good to the Hotel Group Meetings industry and that trend is expected to continue into 2019. Planners are brimming with confidence due to an expanding economy and increased job creation, which typically results in a boost in corporate meetings. Given this promising outlook, planners are trying to outdo themselves to satisfy the high expectations of their clients. One notable trend is to integrate unusual settings into the meeting experience, hosting groups at local zoos, aquariums, museums, event centers, or other outdoor facilities. The goal is to embrace uncommon destinations, rather than a typical hotel conference room, so that meetings can be memorable, unique and stimulating. This is also part of another trend which is to support all things local - from hosting events at landmark city venues; to catering through local restaurants, food trucks and microbreweries; to hosting off-site excursions like agri-tours, athletic events or scenic 5k routes. However, though the setting might be spectacular, there are still some bedrock components that must be provided to ensure a successful meeting. Free, high-speed Wi-Fi is still one of the most requested services. Planners have to make sure that a comprehensive communication infrastructure is in place so clients can easily connect - and stay connected - to the network throughout the entire meeting experience. Also, technology tools can be used to streamline the booking, registration, and check-in process, and Radio Frequency Identification (RFID) materials can be utilized to ensure seamless access to conference events. There are also numerous software tools that encourage audience participation, as well as integrating polls, Q&A, surveys and games into speakers' presentations. The September Hotel Business Review will examine issues relevant to group meetings and will report on what some hotels are doing to promote this sector of their operations.

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Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.