Recently, several of us at the Analytic Hospitality Executive participated in the Cornell Hospitality Research Summit (CHRS), which is put together by our partners at The Center for Hospitality Research. This event brought together 240 participants from 21 nations in addition to the U.S., with about 60 percent industry practitioners and 40 percent academic researchers. This conference is great example of where industry problems meet academic research.
CHRS 2012 kicked off with a panel of industry CEOs, who highlighted many of the industry's current challenges and pointed toward possible solutions. The panelists pointed out the clear connection between operations excellence and value creation, and suggested that hotels should choose to offer services that fit their corporate values. The panelists also raised one of the industry's greatest challenges: how to offset the focus on price and location in hotel sales.
The second keynote panel comprised the deans of hospitality education programs from around the globe. For their part, the deans also see the industry's many changes and point to hospitality educators' constant struggle to keep up. The panel members pointed to the need to provide a holistic approach to education that builds skill sets and engages students in hospitality and service.
One of the issues that was raised in several of the sessions that I participated in was the issue of attribution models. Hospitality and travel industry practitioners are struggling with understanding how their customers make buying decisions online, so that they can have more influence on the buying decision process. Where does a customer visit or research or prior to buying, and how much do each of these visits influence the decision to purchase?
Is this something that you are struggling with in your marketing analytics? How have you approached solving this puzzle so far? We’d love to hear from you.