Key hoteliers in the UAE’s hospitality sector speak on three specific drivers, standards required and technology which optimises revenue.
James Britchford, Vice President Commercial— India Middle East and Africa, IHG
Some of the key revenue drivers in the hospitality industry are pricing, direct bookings, loyalty programmes and systems and tools. It is important for professionals to stay updated with proprietary tools, training and certification, and also keep abreast of the latest technology that is increasingly playing an important role in revenue optimisation. At IHG, we have the tools and talent to maximise revenue and profits for our owners. As one of the largest international hotel companies, we have the benefit of scale, which gives us the ability to develop world-class delivery systems.
Sarah Allen, Vice President—Revenue Strategy & Analytics, Middle East & Africa, Marriott International
The key drivers at Marriott International include the understanding of total revenue per available room (TrevPAR) to support total hotel strategies across all revenue generating segments, the ongoing shift of focus to mobile and the increasing focus on booking direct and investment in revenue management systems. Owning the customer data is incredibly important to enable targeted marketing and in-depth customer analytics. As a part of that, rate integrity across all channels and all segments is critical to supporting customer loyalty.
Olivier R Harnisch, Chief Executive Officer, Emaar Hospitality Group
The quality of service, personalisation and online presence are the key drivers. The first decreases dependence on market forces and leads to positive online reviews, the second establishes a direct communication with each customer, while the third enhances the findability and ease of booking of a property. A relentless focus on associate happiness and individual customer needs remain the essential elements of successful hospitality. Happy and engaged team members lead to delighted customers who are willing to pay a commensurate price for the experience they receive. It is as simple as that.
Nevil D’souza, Commercial Director, R Hotels
A key driver for the hotel industry currently is the right price for the right product that the customer is willing to pay, which is accentuated by the right service at the hotel in order to increase customer loyalty and value for the customer. This in turn also helps in driving direct business to the hotel and reducing the distribution cost. It is important for every hotel to have diverse distribution channels in order to reach different customers at different point of sales. Every hotel should clearly lay out their offerings across all these channels for guests to understand the hotel well during the journey of booking their stay.
Sherif Madkour, General Manager, Media Rotana
The key revenue drivers in hospitality is different nowadays with the advent of technology where the main source of revenue for any hotel is online bookings. In hospitality, success is dependent on standards and having extraordinary service. Guests always remember the experience and not the place and this is what we strive to give them right from the moment they enter our doors to make sure they have a memorable experience. Technology support in revenue optimisation of the hotel exactly as it does with any other field is the new strategy to compete with the environment around.