Nicolas Durand, VP of Revenue Strategy & Partnership at S Hotels & Resorts, highlights the accelerated role of the commercial team in the hotel industry.
The pandemic has expedited the adoption of cloud-based technology, allowing for better data utilization and optimization of revenue management across various departments such as food and beverage and spa. Durand emphasized the need for adaptability in response to rapidly evolving markets, mentioning the unpredictability of border openings and closures. The closure of China as a key source market poses challenges for tapping into new markets effectively.
Overall, Durand underscores the importance of data-driven decision-making and staying agile in the face of changing circumstances.
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Read the complete transcript here:
I think there’s not only the commercial team, but also, I think what we’re seeing, the commercial team was starting over before the pandemic. I think it’s really accelerated, you know, there’s a lot of different partners like great gains also that really accelerated during the pandemic and really took the advantage of that time to really develop their products.
So, really, on the commercial team, now it’s extremely important to have, you know, cloud-based technology, really be able to, for me, data is at the front of everything. How can we get data, but not only rooms, but how can we really involve intel in terms of total revenue management, optimizing the revenue for F&B and spa? And I think the main change that I see is how much the different markets are moving, right? So we need to adapt, way, way quicker.
So it’s all, again, for me about data, anticipating, and really understanding what commercial strategy we have to change and really be adaptable. And at that, you know, one country will open its border one day and maybe stop. I think now it’s a lot more stable.
But also, now you know, China is closed for Taianan, right? It’s one of the key source markets. We don’t know when it’s going to open. So now it’s like, okay, how do we go and easily go and tap new markets?
Meet the Speakers
VP, Revenue Strategy & Partnerships
S Hotels & Resorts