By: Isaac Rodriguez, VP of Revenue Strategy & Distribution

I had the pleasure of attending the 2016 Hotel Data Conference hosted by industry thought leaders STR and HotelNewsNow in Nashville, Tennessee in the later part of the summer. As both an avid attendee and a presenter for the “Everyone is a Marketer!” panel, I left the conference with a handy arsenal of key takeaways and 2017 projections, which I have outlined below.   

Panel Overview:

We stressed the importance of understanding proper eCommerce initiatives and the roles they can play in your overall revenue strategy.  We also discussed the pillars of influence – reach, audience and engagement – and the impact influencers can make when deployed properly. A timely and unavoidable subtopic was the importance of properly planning your marketing budget to account for the necessary expenses for the upcoming year, including the strategic digital campaigns required to lead a successful revenue strategy.

Last but not least, we discussed the need to hire an industry expert rather than try to attempt to piece meal the position needs.  An industry reality is that eCommerce is no longer a novelty for a hotel management company, but a vital component of the overall revenue strategy.

3 Key Takeaways from the Hotel Data Conference:

An eclectic lineup of marketing, revenue management and technology was presented through discussion panels, a series of sessions, and even networking with fellow colleagues.  Properly reflecting the immensity of hotel data, there were many insights to be had – but as a proper and shamelessly efficient data disseminator, I have narrowed it down to three key takeaways for our readers: 

  1. Don’t Panic … 2017 should continue to provide RevPAR increases – albeit at a much slower rate that the previous five years
  2. Demand should be able to outpace supply for the next year in most major markets
  3. Seek out new guests, but ensure they are profitable

Projections for 2017:

isaac-rodriguez-vp-revenue-strategy-and-distribution-twenty-four-seven-hotels

Isaac Rodriguez works with the Revenue and Sales teams at the Twenty Four Seven Hotels annual meeting.

Twenty Four Seven Hotels is following the industry experts’ lead and budgeting most of its properties revenue increases next year in Average Daily Rate (ADR). This is where we see the most change in our industry.  There are also many new, reactive trends on the rise catalyzed by the growing demand of the millennial travel – and by no means are they all executed well. What we’re seeing work at the MOXY Tempe, though, is the revision of F&B concepts and operations to cater to the social, ever-connected young traveler. 

We’re seeing major and unique advances in technology, too.. The key breakthrough for me (and my ridiculously adaptable department) is that many of the major branded hotel chains are striving to improve their rate and inventory automation capability in order to improve on their revenue management system platforms dramatically. This means less focus on the mind-numbing revenue tasks in favor of brain-fueled revenue tactics. Long overdue, but better late than never.

Overall, the Hotel Data Conference provided a magnitude of relevant, forward-looking information that Twenty Four Seven Hotels plans to implement in our 2017 planning and goals.

____________________________________________________

About Isaac Rodriguez

Isaac Rodriguez is the Vice President of Revenue Strategy and Distribution for Twenty Four Seven Hotels. He is responsible for all top line revenue growth for the entire property portfolio. Isaac leads the revenue strategy team by developing and implementing sustainable management strategies for direct sales efforts, digital marketing presence and profit optimization. Since 2008, he has been overseeing the company’s revenue management foundations and evolving with each major hotel brand’s revenue platform. Isaac is a Certified Revenue Management Executive (CRME) and currently resides in Orange County, CA.

About Twenty Four Seven Hotels

Twenty Four Seven Hotels specializes in providing hotel management, investment and development for premium brand select-service and lifestyle hotels segments in the Western U.S. We offer a full spectrum of services in Hospitality Management, Hotel Investment, Hotel Design & Construction and Hotel Asset Management.

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