With travel segments recovering at different paces, it’s a challenge for revenue managers to dig in and forecast the future
Jul 25, 2024
Speaking at HSMAI’s Commercial Strategy Conference, Erica Lipscomb, SVP of Revenue Strategy at Crescent Hotels & Resorts, noted that destination resorts, after an initial faster recovery, are now struggling to maintain rates as occupancy declines. After a challenging first quarter, Crescent is targeting segments that have yet to return to 2019 levels and investing marketing dollars wisely.
“Identifying and focusing on underperforming segments ensures that our marketing is effective,” Lipscomb said.
Priya Chandnani, SVP of sales, revenue and distribution strategy for Sage Hospitality Group, added that while strong group travel supports transient rate efficiency, overreliance can undermine both the transient rate and its demand.
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