HSMAI, Infor Release White Paper on Taking Ownership of Customer Relationships

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Research Finds that Owning Guest Relationships Leads to Higher Revenue and Loyalty

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In today’s market, if hotel operators don’t make it a priority to own their guest relationships, someone else will.

The Hospitality Sales and Marketing Association International (HSMAI), in partnership with Infor, today released a new white paper entitled, “Ten MORE Ways to Pull More Revenue Through to Your Bottom Line: Taking Ownership of Your Customer Relationships.” The research is a follow-up to the 2014 white paper previously published by HSMAI and Infor, “Nine Ways to Pull More Revenue Through to Your Bottom Line.”

This year’s white paper, authored by Janet Gerhard, principal of Hospitality Gal LLC, offers specific recommendations to help hoteliers think critically about industry opportunities, not only to overcome new and existing challenges, but to pull even more revenue to their bottom line. In addition, it poses questions for hoteliers to look intrinsically at what they have been focusing on —such as their priority customer base and if it should be expanded, delivering an effortless customer experience, and the role of technology.

“In today’s market, if hotel operators don’t make it a priority to own their guest relationships, someone else will,” said Robert A. Gilbert, CHME, CHBA, president and CEO, HSMAI. “This white paper provides specific and achievable recommendations to maximize wallet share and increase customer loyalty, such as integrating internal data sources for a more holistic view of the guest.”

The hospitality industry remains under constant siege from escalating costs, unpredictable economic shifts that impact travel, market and channel competition, and consumer-driven pressures. In order to take ownership and drive more revenue, the research outlines ten important strategies as listed below, and detailed in the full white paper.

1.    Focus on what is uniquely in your control.
2.    Make data management a priority.
3.    Invest in and leverage technology wisely.
4.    Integrate internal data sources for a more holistic customer view.
5.    Match the limited information you receive via other distribution channels against your data.
6.    Personalize. Provide highly targeted and relevant offers to your guests, pre-, mid- and post-stay.
7.    Engage in social media.
8.    Be easy to do business with.
9.    Hire (and occasionally you may need to fire) smartly.
10.    Recognize the different needs of your various customers.

“These recommendations will help enable hoteliers to take ownership, lower acquisition costs and increase conversions,” said Bernard Ellis, CRME, CHTP, Vice President of Industry Strategy, Infor Hospitality. "Infor is pleased to collaborate with HSMAI to ensure the hotel industry remains relevant while driving more revenue to the bottom line.”

Visit the HSMAI Foundation Knowledge Center to download the complete white paper.

About HSMAI
The Hospitality Sales and Marketing Association International (HSMAI) is committed to growing business for hotels and their partners, and is the industry’s leading advocate for intelligent, sustainable hotel revenue growth. The association provides hotel professionals & their partners with tools, insights, and expertise to fuel sales, inspire marketing, and optimize revenue through programs such as HSMAI’s MEET, Adrian Awards, and Revenue Optimization Conference. HSMAI is an individual membership organization comprising more than 7,000 members worldwide, with 40 chapters in the Americas Region. Connect with HSMAI at http://www.hsmai.org, http://www.facebook.com/hsmai, http://www.twitter.com/hsmai and http://www.youtube.com/hsmai1.

About Infor Hospitality
Infor Hospitality is designed to address the specialized requirements of hotels, resorts, and casinos. With a full suite of financial and operations applications that help you manage the online and guest experience, Infor Hospitality solutions let your employees focus on improving guest service and enhancing your bottom line. Decrease costs, raise profits, grow your business, and build the loyalty that keeps guests coming back for more. You’ll be able to solve old problems in new ways with hospitality-driven, flexible, collaborative solutions for: property management, revenue management, customer relationship management, call center management, financial and back-office management, performance management, asset management and human capital management. Join more than 20,000 hotels, restaurants, and casinos worldwide—including 9 the world’s 10 largest hotel companies—that use Infor Hospitality software to improve guest experiences and drive more profit. With Infor Hospitality you’ll get better information, more efficient processes, and award winning support and services.

http://www.infor.com/solutions/hospitality/

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Elizabeth Johnson
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