1. How is the HSMAI Foundation different from HSMAI?
Hospitality Sales & Marketing Association International (HSMAI) is committed to growing business for hotels and their partners, and is the industry’s leading advocate for intelligent, sustainable hotel revenue growth. The HSMAI Foundation was created in 1983 as a separate organization to meet the industry’s call for insights in leadership, best practices and innovation to support sales, marketing and the emerging field of revenue management. Over the past 35 years, the Foundation has published benchmarking studies; launched and maintained the online HSMAI Knowledge Center; developed influential study guides to prepare for professional certification; and created future trend reports with industry partners on distribution and leadership. More than 120 careers have flourished thanks to the professional and experiential scholarships provided by the Foundation and its partners. In 2018, the Foundation was called upon to address the most compelling issue facing the industry today: the ability to attract, develop and engage professional talent in sales, marketing and revenue management.
2. What is the Mission of the Hospitality Sales and Marketing Association International Foundation?
To elevate the overall caliber and performance of sales, marketing and revenue management professionals in the global hospitality industry by driving initiatives that will attract new talent, develop emerging talent, and engage existing talent.
3. As an HSMAI member, how can help support the Foundation’s mission?
To bring this vision to life, we are launching our first ever capital campaign. This is an industry-wide effort to raise funds in support of talent development. Together, we hope to raise $3,000,000 to attract, develop and engage talent through Program Development, Research and Partnerships, and Marketing, Communication and stakeholder support.
The future of our profession depends upon the acquisition and retention of both on and above-property top talent who are highly skilled in the discipline of sales, marketing and revenue management. To build the talent and leadership pipeline, we will create measurable objectives and ensure deliverables.
But to do this, the HSMAI Foundation needs your help. Today! Your financial and programmatic support will ensure that we meet the needs of the entire hospitality sales, marketing and revenue management industry.
4. Why does talent matter more than ever before?
The hospitality industry is changing dynamically in its ability to create, capture, manage and optimize hotel demand. Consumers continue to demand innovation. The science of revenue management, distribution channel management, ecommerce and digital marketing continues to evolve overnight, while disruptive strategies and technologies erode margins. Customer acquisition costs have never been higher, while the efficiency and predictability of sales and marketing strategies continues to decline.
At the first HSMAI Curate Event held in April 2018, which was attended by representatives from 59 HSMAI Organizational Members, Talent Acquisition & Retention was voted as one of the top three priorities for hoteliers. Participants were asked, “What specifically about this issue gives you heartburn?” The answers – 117 of them – ranged from “companies reward tenure over talent” to “a lack of preparation in schools and colleges” and “outdated perceptions of the industry as old school and offering no work/life balance.”
The HSMAI Foundation is uniquely positioned to lead on this crucial Talent and Leadership topic for the hospitality industry.