HSMAI Releases Executive Summary of Best Resort Revenue Generating Practices
250-Page Comprehensive Report Details 160 Best Practices and Creative Techniques for Expanding Resor
MARCH 27, 2007. The Hospitality Sales & Marketing Association International's (HSMAI) Foundation just released an Executive Summary of a breakthrough best practices report for the resort industry on ancillary revenue. Details and findings from 'Generating Ancillary Revenue: Creative Techniques for Expanding Resort Revenue Streams' were presented for the first time at the 7th Annual Resort Management Conference held at The Broadmoor in Colorado Springs, CO, from March 25-27, 2007.
While the resort sector is a unique and particularly challenging sector within the hospitality industry, given its seasonality and often geographic isolation, there are tremendous opportunities to expand revenue streams. Once a resort has optimized its room revenue, there are many possibilities to improve its overall financial situation. This new report examines dozens of ways that resorts can creatively improve their customer service while also increasing revenue.
'This study is essential for any resort that is re-evaluating its position in the marketplace. It serves as a comprehensive workbook that sales and marketing professionals will refer to often for sound practices and creative revenue generating concepts,' states Robert A. Gilbert, CHME, CHA, president & CEO of HSMAI.
According to Cindy Estis Green, author of the report and managing partner of The Estis Group, 'There is no other publication or research study that has examined so closely the practices of resorts in stimulating incremental revenue. We came up with almost 200 different practices that are all highly effective, as well as some revenue management practices that are very innovative.'
The result is a compilation of 160 best practices illustrated over 250 pages. While some are in widespread use (common practices), others are very unique. The practices are organized by revenue center, but within each of those areas, they are put into sub-categories to make it easier to group similar initiatives. Among the sub-categories are:
o Partnerships
o Pro-active Selling
o Promotions
o Revenue Management
o Trends
o Innovations
o Customization
o Experiential
The final section is called Crossover as it includes initiatives that apply to multiple revenue centers.
There were 23 resorts directly interviewed and supplemental information on others gathered through a literature search.
The Resort Best Practices studies are conducted by The Estis Group under the direction of Cindy Estis Green and under the auspices of the HSMAI Resort Marketing Special Interest Group.
Highlights from the two previous studies on 'Customer Relationship Management and Customer Loyalty for Resorts' and 'Internet Marketing & Distribution Strategies' are available, while the full study on Internet Marketing can be purchased.
Highlights from the upcoming fourth study, 'Best Practices in Resort Sales and Marketing Campaigns and Calculation of ROI,' were being reviewed at the Resort Management Conference as part of an interactive discussion of the topics between the marketing executives from participating properties.
Subscribers to the Best Practice studies have immediate access to the full findings upon a study's release. New subscribers to the Best Practices Initiative may purchase any of the prior reports in their entirety for $750. For more information on becoming a subscriber or for findings from the report, contact Janice Imperia (HSMAI Resort Marketing Special Interest Group coordinator) at [email protected] or visit www.resortmarketing.org.
Participants of the Resort Best Practice Report are: The Breakers, The Broadmoor, Chateau on the Lake, Colonial Williamsburg Hotels, El Cid Resorts (Mazatlan, Mexico), The Greenbrier, Hershey Resorts, Hotel Del Coronado, Hyatt Regency Hill Country, Kiawah Island Golf Resort, Mauna Lani Bay Hotel and Bungalows, Ocean Edge Resort, Pebble Beach, Pinehurst Resort, The Sagamore, Sanibel Harbour Resort Hotel & Spa, Sol Melia - Paradisus Riviera Cancun, Sol Melia - Gran Melia, Steamboat Grand Resort & Conference Center, Turtle Bay, The Reefs, Water Color Inn and Resort (St. Joe Towns and Resorts West Florida) and Wild Dunes Resort.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
