No major strategic vision will guarantee the long-awaited recovery. The economic and financial recovery will be uncertain and irregular. We will probably confirm this forecast mainly in the peripheral areas of Lisbon and Porto, as they concentrate on the one hand a good part of the potential of the Corporate market but also of leisure. On the other hand, we can also consider predicting a resumption of leisure segments in destinations with a larger territorial area but with tourist interest proportional to their magnitude, we can give as an example Alentejo or Douro.
Unfortunately, we anticipate that we will see bankruptcies grow, unemployment, some social instability and it is an obvious drop in consumption. Not wanting to make this article an economic and social analysis of the national panorama, but an article by RM, I return, therefore, to the reason that led me to write my opinion.
RM’s have a habit and as a consequence of the characteristics of their profession, a capacity for permanent and rapid adaptation, and this is our moment, it is time to be the leverage of hotel units that are faced with more questions than answers. We have access to micro and macro information, we have access to technology and we have the knowledge (if we don't, RM Academy can help). We can see all the consumption of our services by market segment and even by purchase channel! We can predict, monitor and trigger movement in all of our micro markets, almost in real time, which is fantastic! We have tools (RMS, CM, BI, etc.) with such a degree of sophistication, that yes, we do what I mentioned earlier.
Our advanced RM systems can provide robust analysis of different indicators from different sources. Our machine learning algorithms can identify and predict customer demand patterns and identify directional changes and inflection points in micro market levels across the board. These critical and momentary opportunities will be missed by the common and usually vertical views used by others in the organization.
In addition, we have the experience of interpreting what we see. We are curious to explore what we cannot see. History is on our side. We have the data, tools and mindsets to overcome the economic challenge of coronavirus.
Selling the right product to the right customer at the right time at the right cost has never been more important.
This is our time! Let's show what we're made of and let's help our organization!