In the face of adversity from rising operating cost and a weakening global economy, business leaders at the Visionary Leaders Roundtable in Singapore provides the hospitality industry ideas on what can be done to address the challenges to stay relevant, competitive and profitable.
Authored by Simone Champagnie, executive director - development, at Chaplin School of Hospitality & Tourism Management at Florida International University (FIU); Nathan Dodge, visiting professor at Chaplin School of Hospitality & Tourism Management; and Christine Toguchi, managing director at MacroVision Network Pte Ltd and project consultant for IHTER, the paper explores the insight, ideas and pertinent questions arising from the intellectual exchange that took place at the Visionary Leaders Roundtable at Pan Pacific Singapore last November. Presented by FASTBOOKING, ForwardKeys and Rainmaker, the roundtable brought together industry leaders from around Asia-Pacific who brainstormed ideas for revenue optimization that included,
Driving Growth through Better Customer Insight and Analytics, Direct Distribution vs. Third-Party Options, and Optimizing Profits from Total Revenue Management among other relevant topics.
Topics explored include:
- What’s coming our way in terms of Tools, Technology and Talent Development?
- How can we continue to drive profitability with greater time constraints and more competition?
- Where are the opportunities to maximize revenue?
- Will we be able to sustain the high costs of attracting new guests?
- What new guest segments and social media will change the game next, and how?
Read the full report here.
