In the first place, Travel and Leisure today is about more than simply watching air passenger volumes increase and hotels’ occupancy rates pick up. Of course, some trip types will fare better than others. And some demographic groups will lag others. Furthermore, the pandemic changed the way we live and work. Correspondingly, some of those changes are likely to continue to affect travel as the health crisis is mitigated. Now, as prominent industry leaders track consumer sentiment and performance, it is valuable to note data analysis. Then, work it and disseminate it into business practices.
Of course, Entrepreneurship is the engine that drives any successful industry or economy. Moreover, in the rapidly evolving hospitality, tourism and leisure sector this is particularly true. With this intention, CSC designs plans and strategies to develop business process and context for entrepreneurship within industries. Specifically, Travel and Leisure borrows from worthy longstanding concepts in Loyalty Rewards while forcing today’s disruptive practices that make sense. Not only does collect, analyze and implements, as well CSC provides key concepts which will enable proprietors and stakeholders become more entrepreneurial themselves.
Travel and Leisure – Segments and Programs
When it comes to selling hotel rooms, the traditional breakdown has been grouped into three categories: leisure-focused, business- and corporate-focused, and group- and convention-focused. Leisure is performing at or better than 2019 levels. That said, considerations of local or nationwide vs. international, and experiential vs. family play into the decision maker. This is where factors such as age / life stage (e.g., millennial, retiree), motive and socioeconomic status come in.
Yes, we understand traditional Loyalty Rewards. In deed, programs help drive direct bookings as customers first accrue and then spend their points. However, they also give hoteliers a direct line of communication. Equally important, they engage with guests and incentivize the use of hotel restaurants, bars and spas, boosting ancillary revenue. Then, with innovation and social media there is an amazing opportunity to further the relationship and offers. Therefore, companies are making more development decisions with loyalty members in mind.
Again, Entrepreneurship in the Hospitality, Tourism and Leisure Industries is an essential teaching tool. Together with, reference on academic and professional practices, it gives a powerful perspective. With this in mind, the organization and execution of a solid plan and strategy boosts the prospective opportunity of success. CSC will help:
- link theory and practice, strategically and effective with ROI principles
- raise awareness and put business concepts to use in the explanation of practice
- encourage imaginative, creative, and innovative interpretation of conventional business practices
- examine the relationship between entrepreneurship, the support environment and various providers of finance
- investigate specifics of the interface between entrepreneurship and hospitality, tourism and leisure operations, management, and strategy
- rejuvenate marketing and strategic management approaches
CSC has worked with or created programs for industry leaders such as Air France, National Bank of Canada and Fairmont Hotels & Resorts.