HSMAI Foundation Special Report: The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2023-2024
Source HSMAI Annual State of Talent report
The Hospitality Sales & Marketing Association International (HSMAI) Foundation released its third Annual State of Talent report which reveals this year's trends in the hospitality industry that are impacting the talent within the sales, marketing, and revenue optimization disciplines.
“This year the report builds on the foundation from last year’s report and captures new trends in the industry,” explains HSMAI Foundation Executive Director Robert A. Gilbert, CHME, CHBA. “We also showcase examples of leaders who have created inclusive, dynamic, and forward-thinking work environments, sharing best practices.”
The 9 key talent trends identified in the HSMAI Foundation Special Report: The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2023-2024 are:
- Meeting the Needs of Multigenerational Workforces
- The Rise of The Gig Economy and Fractional Staffing Models
- Retention Through Upskilling, Reskilling and Upward Mobility
- Transforming Employee Engagement
- Leadership Defines Culture and Organizational Purpose
- Return to Office and Hybrid Work Models
- Cross Functional Teamwork and the Evolution of Commercial
- The Rise of Artificial Intelligence
- Prioritizing Emotional Wellness
One of the trends explored in this year’s report is the dynamics of a multigenerational workforce – how different age groups bring unique strengths and perspectives to the table. According to this year’s State of Talent Report, staffing levels are predicted to return to pre-COVID levels by 2031 and HSMAI is predicting a slow entry of new employees into the workplace, making the talent retention strategies outlined in their findings crucial to industry executives.
The findings on the integration of AI in hospitality offer a glimpse into a future where the lines blur. Additionally, the report explores how the rise of the gig economy, the growing emphasis on upskilling, and the adoption of hybrid work models are reshaping our operations.
“Each of the 9 trends represents a piece of our industry’s talent puzzle,” said Lori Kiel, CHDM, HSMAI Foundation Chair and Chief Commercial Officer, The Boca Raton Resort and Club. “The State of Talent Report highlights the industry’s positive trends while honoring the adaptability and innovation inherent in hospitality.”
The HSMAI Foundation State of Talent Report is made possible with the support of the HSMAI Foundation’s corporate talent partners and is authored by Dorothy Dowling, Managing Director, Horwath HTL, and a special advisor to the HSMAI Foundation board.
The full report is available here.