Negotiating the Changing Economic Conditions

HSMAI and the HSMAI Foundation provide sales and marketing professionals with resources to stay ahea

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. December 18, 2008

DECEMBER 18, 2008. The HSMAI Foundation has introduced a special section of its online resource center, eConnect, that details real-time economic news focused on the hospitality industry. The special section is a resource where professionals can go to find relevant and up-to-date news on how to successfully negotiate the ever-changing economy in the hospitality industry. It is one of several current initiatives by the organization to give sales and marketing professionals the tools they need heading into 2009.

'With the economy in a constant state of flux, it is easy to be overwhelmed with data sources' said Pamela Streeter, HSMAI Foundation board chair. 'The Foundation felt it was necessary to offer our members a simplified resource to help them remain informed so they can be successful in this time of economic uncertainty in the hospitality industry. This special section of eConnect helps save them time by consolidating the latest news and columns in one place.'

HSMAI is a leading voice regarding the trends and ideas that are shaping the hospitality industry and continually looks for ways to help professionals be successful in their careers. Econnect is the HSMAI Foundation's one-stop portal to global information and resources on hospitality sales and marketing topics and another value add of membership in the association. Industry professionals can sign up for a trial eConnect account at www.hsmaieconnect.org to access the site for 30 days.

In addition, the latest edition of the HSMAI Marketing Review has several articles focused on the economy. This quarterly publication produced by the association features information on hot topics in the hospitality industry and interviews with leading sales and marketing professionals. Among the current articles are:

The HSMAI/DKSA 'Traveler Acceptance Index' (TAI), focuses on 'Effectively Weathering the Economic Cycle's Ups and Downs,' revealing a cyclical pattern in consumer attitudes over the last eight years, and notes a significant trend in the change of consumer attitudes toward travel and to the state of the economy.

Another article, 'Higher Transportation Costs and a Slowing U.S. Economy Shifts Hotel Room Demand,' using data from the Smith Travel Research, analyzes the impact increased transportation costs and a slowing economy have had on the hotel industry, specifically in six hotel sectors, from Upper Upscale to Economy/Budget.

HSMAI's Americas region chapters and the HSMAI University are also providing timely programs to address today's economic concerns. Among the programs coming up in January and February:

o Greater New York Chapter: 'Annual Address by Dr. Lalia Rach of New York University', January 14

o Greater Los Angeles Chapter: 'Southern California Lodging Forecast', January 20

o South Florida Chapter: 'International Tourism Trends', January 21

o HSMAI University Webinar: 'Forecasting 2009', February 3

o HSMAI University Webinar: 'Driving Business Revenue Through Public Relations', February 10

o Archived versions of the recent four-part HSMAI University Webinar series: 'Leading Through the Economic Crisis and Preparing for Recovery' are also now available online via www.hsmaiuniversity.org.

For more information, visit www.hsmai.org.