ROC turned out to be a fact-filled conference again this year, with more registrations than ever before. Senior Director of Revenue Strategies Amanda Slade attended on behalf of Revenue Matters and brought back the following takeaways:
- Marketing spend should be the last thing you remove from the budget, not the first. Lean into AI to continue to enhance the communication between the hotel product and the guest.
- Review KPIs: Comparing to budget which is a static benchmark created in advance, may not be relevant as the economy continues to shift. Total net profitability is being measured as a better metric as the way forward.
- As booking windows continue to follow a short-term trend, using data available to identify trends is even more important.
- Short-term rental demand that tends to book further out shows very similar peaks and valleys for hotel demand (Amadeus Demand 360).
- Shoulder nights (Sun and Thurs) for leisure travel continue to outperform the remainder of the week.
- Combined travel between business and leisure is here to stay. What is the optimal mix with the change in business post-pandemic?
- Discounting is not the answer, but providing experience-driven offers and promotions will be the driver for this year into next year.
- Respond to reviews! 76% of guests regularly read online reviews (Revinate Benchmark Report)
- Service levels should be operations’ top priority, with more than 60% of travelers expecting the same level of service prior to the pandemic. Lack of staff is no longer a usable excuse. Leaning into tech to fill the labor gap should be a consideration.
- Guest sentiment directly affects value perception and will have an impact on ADR.
