May 2015, London
Opportunities, tips and lessons in RM success from a Spanish hotel brand
With revenue management and distribution becoming increasingly interdependent, we hear where NH Hotels is focusing its energy today
Ahead of the Travel Distribution Summit, Europe on May 6-7 speaker Fernando Vives, SVP Commercial Strategy & Pricing, NH Hotel Group, shares his insights from the past year year and into what lies ahead.
Biggest opportunities for investment
If we refer to ‘investment’ as something beyond monetary resources, we see great opportunities for programmatic media buying, metasearch and social media. Complementary to all this, and as important if not more important, will be customer relationship management.
When it comes to technology investment, we have prioritised investments in off-page and on-page analytics systems and multidisciplinary tools that will allow us to integrate and orchestrate on real time marketing, pricing and revenue decisions and initiatives.
A recent investment in intelligent dynamic banners is already showing a positive return on investment.
Biggest lesson of the past year
Understanding customer acquisition. Oh, and looking beyond the last click. Also by having a better knowledge of the path to conversion will allow you to optimise and make decisions in a smarter way.
To outsource or not?
There are several factors to take in consideration here namely: strategic value, investment or resources needed, time to market. Depending on what your priorities are will help you decide whether to outsource or keep it in house. Lately, you may find you start with an external provider and then bring it in house, or vice-versa.
Impact of metasearch (and Google) on commercial strategy
Recent developments and convergence means that the boundaries are blurring, but if we refer to ‘traditional’ metasearch, this channel is a key point in the path to conversion. The key is to understand both contribution and attribution of this channel.
If we speak about Google HPA (Hotel Price Ads) we can say it is a powerful tool, has a great potential and we are exploring this as an option. However, it will also depend on how Google plans to evolve it. Needless to say, we have heard different versions of future next steps.