HSMAI's Revenue Management & Internet Marketing Strategy Conference Focuses On Optimizing Pricing and Growth

More than 300 revenue management and internet marketing professionals from across the hospitality industry convened at the Hospitality Sales and Marketing Association International (HSMAI) Revenue Management & Internet Marketing Strategy Conference in Orlando, Fla., on June 21 for a day of in-depth discussions regarding how the two disciplines can work together to generate demand.

“Better pricing isn’t always about a higher price, it’s about offering consumers choices,” said Rafi Mohammed, founder of Culture of Profit, in his keynote presentation titled, “How Successful Companies Use Price to Profit & Grow.” He went on to explain his 1% Windfall concept, which illustrates how even a one-percent increase can significantly boost operating profits when applied in the right context.  

Top discussions at the conference, co-located with HITEC 2010, focused on the heightened interdependence of revenue management within the digital landscape. The day consisted of 16 breakout sessions that focused on the latest trends in revenue management and internet marketing. The sessions explored revenue optimization, pricing, e-commerce, social media strategies and Internet marketing topics in the context of today’s challenging economic environment.

“This year’s Revenue Management & Internet Marketing Strategy Conference brought together some of the brightest minds in both fields,” remarked Bob Gilbert, HSMAI president & CEO. “We were able to attract a global field of attendees and speakers this year, making the conference a premiere annual event for revenue managers and marketing professionals in the hospitality industry.”Attendees included corporate and regional professionals from 36 hotel brands and another 50 management companies and ownership groups, and represented 12 countries.

Also, at the conference, “The Evolving Dynamics of Revenue Management: A Comprehensive Revenue Optimization Road Map for Hotel Owners, Operators and Practitioners,” published by the HSMAI Foundation, was debuted. This HSMAI Revenue Management Special Interest Group publication includes the very latest information on understanding the market, market segmentation, forecasting, revenue strategy, pricing, inventory control strategies, and performance analysis. Included are a plethora of case studies to help readers optimize revenue of a specific hotel company or independent hotel.

Conference partners included Click2, Digital Alchemy, Easy RMS, EZ Yield.com, HFTP, IDeaS, JDA Software, Milestone Internet Marketing, Inc., The Rainmaker Group, Rubicon, Sabre Hospitality Solutions, STR, TRAVELCLICK and Vizergy. The conference was organized and presented by HSMAI’s Revenue Management and Travel Internet Marketing Special Interest Groups. For more information on HSMAI’s revenue management & Internet marketing resources, visit www.revmanagement.org and www.travelinternetmarketing.org. 

About HSMAI

HSMAI is the hospitality industry source for knowledge, community, and recognition for leaders committed to professional development, sales growth, revenue optimization, marketing, and branding. With a strong focus on education, HSMAI has become the industry champion in identifying and communicating trends in the hospitality industry, and bringing together customers and members at annual events, including HSMAI's Affordable Meetings®. Founded in 1927, HSMAI is an individual membership organization comprising more than 7,000 members worldwide, with 40 chapters in the Americas Region. For more information on HSMAI, contact the Hospitality Sales & Marketing Association International, 1760 Old Meadow Road, Suite 500, McLean, Va. 22102; (703) 506-3280; fax (703) 506-3266, or visit the website at www.hsmai.org. Join our social networking communities on Twitter, LinkedIn and Facebook.