Industry news: strategy and performance management updates in tourism
Image source: Chris Leipelt | Unsplash
Strategy and performance management updates in tourism: Learn how the travel and hospitality industries have been navigating the post-pandemic era so far.
IATA issues new report on safety performance
The International Air Transport Association’s (IATA) 2021 safety performance data for the commercial airline industry reveals significant progress in key categories compared to both 2020 and the previous five years. Findings show that the total number of accidents, all-accident rate, and deaths declined. Last year, there were no fatal accidents among IATA members or airlines on the IATA Operational Safety Audit (IOSA) registry (which covers all IATA members). For the first time in at least 15 years, there were no runway/taxiway excursion incidents.
“Safety is always our highest priority. The severe reduction in flight numbers last year compared with the five-year average magnified the impact of each accident when we calculate rates. Yet in the face of numerous operational challenges in 2021, the industry improved in several key safety metrics. At the same time, it is clear that we have much work ahead of us to bring all regions and types of operations up to global levels of safety performance,” said Willie Walsh, IATA’s Director General. | Source: IATA.org
Hyatt Hotels Corporation shares performance data on revenues, occupancy
Hyatt Hotels Corporation said that its comparable system-wide RevPAR in May was around $127, the highest RevPAR performance in any single month since November 2019. RevPAR, a commonly used performance measure in our industry, refers to the product of the average daily rate and the average daily occupancy percentage. System-wide RevPAR in May was around 6% lower than in May of 2019(1), or approximately 3% higher when Asia Pacific was excluded. Comparable system-wide RevPAR increased by 2% in May compared to April, owing to higher occupancy, mainly in urban areas. In addition, the average daily rate in May was nearly 8% higher than in May of last year, driven by luxury brands in the Americas, which outperformed 2019 by approximately 24%. | Source: businesswire.com
GE’s Airspace Insight adds new feature for operational performance monitoring
GE Digital announced the addition of the new Network View Module to its Airspace Insight™ software. This will give airlines insights where within their network they need to focus to enhance operational performance based on a range of efficiency and safety metrics developed to identify patterns in airspace waste and minimize fuel consumption. Moreover, the module can aid in tracking and measuring the results of initiatives to enhance airspace efficiency and safety, as well as benchmarking progress against other airlines or collaborating with other airlines, regulators, and Air Navigation Service Providers (ANSPs) to promote industry efficiency and safety.
“Reduced reliance on anecdotal evidence for understanding operational issues, benchmarking, and knowledge sharing between other airlines are what airlines are looking for. They want to know which airlines are flying into this airport, and how efficiently and safely they are doing so. Which markets are underserved or not served at all? Airspace Insight’s Network View Module can help answer these questions,” said Andrew Coleman, General Manager of GE Digital’s Aviation Software business. Source: marketscreener.com
HSMAI survey reveals woes in retaining talent in hospitality
The Hospitality Sales and Marketing Association International (HSMAI) has launched the report “The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2020-2021.” Results found that employers in the industry are facing issues in the areas of compensation and benefits, scarcity of competent candidates, pipeline concerns, and poaching loyalty and company culture. Meanwhile, the trends detected by the report emphasize the value of corporate culture, servant leadership, mental health and wellness, and reskilling and upskilling. The insights are from “50 brand and hotel management company revenue executives and ownership group commercial executives across disciplines to rate the challenges facing commercial talent in hospitality.” Source: hsmai.org
US announces new National Travel and Tourism Strategy
To promote the US travel and tourism industry, US Commerce Secretary Gina M. Raimondo introduced a new National Travel and Tourism Strategy. It is designed to achieve a five-year target of attraching 90 million foreign tourists to the country annually. The arrival of tourists is expected to generate $279 billion each year, strengthening employment growth in communities around the United States, its territories, and the District of Columbia. The strategy involves positioning the US as a major travel destination to encourage visitation to underprivileged and underrepresented groups; ensuring safe and efficient travel to and within the US and its territories; supporting diverse tourist experiences, particularly on federal lands and waterways while also safeguarding them; and establishing sustainable travel and tourism. Source: https://ftnnews.com/
Editor’s Note: This article originally appeared in the 23rd edition of Performance Magazine Printed Edition.
Tags: Hospitality and Tourism, Performance Management, Strategy, tourism, travel
