In a discussion on technological changes and adaptation for profitability in the hospitality industry, Nicolas Durand — VP, Revenue Strategy & Partnership — from S Hotels & Resorts emphasizes the accelerated development of their commercial team during the pandemic. The utilization of cloud-based technology has become essential for accessing and analyzing data to optimize revenue in various areas such as rooms, F&B, and spa. He highlights the need for adaptability and quick market response in the face of changing dynamics. With the unpredictability of border openings and closures, the hotel industry must explore new markets to sustain profitability.
S Hotels recognizes the significance of data-driven strategies in anticipating and adapting to commercial changes. Market volatility has led to the exploration of new avenues, particularly with China’s closure affecting key source markets. By embracing technological advancements and leveraging data insights, S Hotels aims to stay ahead of the curve, optimize revenue management, and tap into emerging markets for long-term profitability and success in the industry.
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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 RateGain also, that really accelerated during the pandemic and really took 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 form 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 may be stopped. I think now it’s a lot more stable, but also now, you know, China is closed for tourism, 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 Speaker
Nicholas Durand
VP, Revenue Strategy & Partnership
S Hotels & Resorts
