TOP NEWS

🍴 Adam Robinson, CEO of Hireology, shared insights on hospitality hiring trends in 2024, revealing that about 50% of job inventory disappeared since January, with hotels hiring at replacement rates, not expanding capacity. Research indicates that job seekers prioritize flexibility and well-being over maximum earnings. Effective referral programs can contribute to 40% of hires, reducing costs and improving retention. Streamlined application processes are critical, with a 70% drop off when login creation is required. Communication is key, with 69% of candidates expecting updates every few days. Offer acceptance declined from 67% to 49% in 2023, with candidates looking beyond pay to culture and career paths. Lastly, 81% of hospitality workers would consider returning to previous employers, highlighting the importance of maintaining relationships and leveraging technology for recruitment automation. 🍴

🏨 South America's hotel industry saw significant growth in TRevPAR (12.1%) and GOPPAR (12.5%) from January to August 2024, outpacing Central America and the Caribbean. In Q2, South America's TRevPAR and GOPPAR soared by 16.9% and 19.0%, respectively. Peru's TRevPAR and GOPPAR jumped by 42.2% and 80.5%, while Chile's increased by 21.2% and 38.6%, and Brazil saw rises of 10.8% and 9.0%. South America's flow-through rate stood at 38%, higher than the Caribbean (32%), Canada (27%), and the United States (6%), with a 2-percentage-point higher profit margin than the Americas average, attributed to lighter labor costs.

📌 Kristie Goshow, Chief Commercial Officer at KSL Resorts, discusses advancement in hiring women in hospitality, with Marriott and Accor having 40% and over 50% women in leadership respectively. She stresses merit over quotas for leadership roles. A 2023 Korn Ferry Institute study found 1 in 4 women affected by menopause consider quitting, highlighting gender disparities in career advancement. Goshow advocates for greater recognition of women's potential in executive recruiting, emphasizing the use of predictive tools and AI to aid the process. Women in hospitality features will continue until boards reflect guest demographics and more women become CEOs. Key trends include AI integration, agility in teams, personalized brand experiences, and innovative revenue management. 🏨

🏨 Multi-user systems in hotels allow various departments to collaborate, breaking down operational silos and enhancing guest experiences. Demand Calendar exemplifies these systems, with daily logins from 5 to 10 users across roles such as marketing, sales, revenue management, and operations. This approach promotes real-time data sharing, seamless communication, and data-driven decision-making. Multi-user platforms are essential for hotels to adapt, innovate, and maintain a competitive edge in today's market.

🂱 Nevin Reed, Senior Director of Casino Services, emphasizes the importance of a casino-centric revenue management strategy, including technology for analyzing supply, demand, worth data, and total profit. Key strategies involve segmentation, forecasting, open pricing, leveraging loyalty programs, and dynamic reinvestment to optimize each booking and maximize revenue. Casinos can increase profitability by adjusting offers for various customer segments and dynamically customizing rates based on total customer value, ultimately enhancing the guest experience.