Warwick Hotels & Resorts (WHR) has opened its first property in Canada with Warwick Le Crystal – Montréal.
Kalibri Labs & Hotel Industry Associations announce Commercial Strategy Certification Program
Kalibri Labs, an innovative data science leader in hotel performance analytics and benchmarking, announced a first-ever Commercial Strategy Certification Program, which will be supported by multiple industry associations, that will revolutionize the approach of hoteliers in a market dominated by digital disruption.
In a strategic collaboration, Kalibri Labs and industry associations including AAHOA, Hospitality Financial and Technology Professionals (HFTP,) and The Hospitality Sales & Marketing Association International (HSMAI,) will launch the first-ever Commercial Strategy Certification Program. This announcement follows the recent release of "Demystifying the Digital Market & Guide to Commercial Strategy," published in partnership with Hotel Business, a market leader in delivering insights to owners and operators. The new certification program will provide practical tools and techniques to hotel operators faced with increasing challenges of operating profitably in a marketplace with rapidly rising costs.
The Commercial Strategy Certification Program, powered by Kalibri Labs, will address the emerging discipline of commercial strategy as an imperative for hoteliers operating in a world of digital disruption. The online certification program will emphasize the importance of growing asset value as a measure of success and introduce the concept of profit contribution as a critical component in commercial decision-making.
Traditional approaches to commercial techniques have typically focused on maximizing revenue. However, the Commercial Strategy Certification Program will underscore the added significance of growing asset value by focusing on profit contribution. This shift in perspective aims to ensure hotel professionals consider the bottom line in commercial spending decisions, such as those around advertising, sales deployment, digital campaigns, and loyalty initiatives.
Recognizing the need for a comprehensive and multidisciplinary curriculum, the program will be developed and implemented with guidance from an expert advisory board comprising renowned industry thought leaders, academics, and experienced practitioners. The curriculum will encompass many topics from calculation of asset value to tradeoff analysis and assessing actions related to a hotel's business mix.
"In working on the certification with one of my co-authors on the book, Dave Roberts from the faculty of Cornell's Hotel School, we recognize that a rigorous certification will define a standard of excellence and convey the necessary skills and knowledge to advance the emerging discipline of commercial strategy throughout the industry. It is a critical toolkit to manage effectively with the high costs of operating in today's marketplace,” says Cindy Estis Green, CEO and co-founder of Kalibri Labs.
The participating organizations will target various roles, including on-property and above-property general managers, financial and accounting managers, hotel owners, asset managers, and commercial teams consisting of revenue, sales, marketing, and digital leaders to gain deeper expertise in this new approach. With digital disruption significantly impacting profitability, acquiring the necessary skills to navigate these challenges becomes crucial for sustained success.
Upon successful certification, each team can adapt its own commercial strategy playbook according to its specific portfolio and organizational structure. The Commercial Strategy Certification Program is projected to launch by the close of 2023.
(Left to right: Dave Roberts, co-author of 'Demystifying the Digital Market & Guide to Commercial Strategy'; Bharat Patel, chairman of AAHOA; Cindy Estis Green, CEO of Kalibri Labs and co-author of 'Demystifying the Digital Market & Guide to Commercial Strategy'; Bob Gilbert, President and CEO of HSMAI; and Frank Wolfe, CEO of HFTP)