Pablo TorresEp 77. INTERVIEW: Bassem Salam | Founder & Managing Director| TRevMax LLC | Dubai (UAE)
Bassem has held truly senior revenue roles before starting his own consulting firm. He has a reputed opinion, and it was a pleasure conversing with him. Over the interview, Bassem talked about: https://www.youtube.com/watch?v=DCjD-epSVpA
HIS CAREER:
From HVS and KPMG in Miami, to VP of Revenue Management for Middle East & Egypt and overlooking Africa and his current role.
MENTORS:
Christopher Froome – Ex VP of Development planning & Feasibility – Caribbean and Latin America at Marriott International, and currently he is the Principal at Appia Hospitality Advisors LLC Christophe Landais – Currently non-executive director at Action Hotels, and he used to Managing Director and Chief Operating Officer for Accor Middle East TRevMax: Offering revenue solutions to many different industries, as well as commercial strategy, digital transformation, outsourcing, mentorship, and turnaround consulting.
TECH:
Some companies prefer to develop their own tech, but not being experts, the results tend not to be very good. Best is to invest your time in selecting the right technology, and then have the experts implement it. The implementation process and ROI will be much greater, and far more effective
TALENT:
In the hospitality industry, our people are our asset, yet investment in training and development is still not good enough. Need to do more “on the job” training, and empower them.
MAIN FOCUS POST PANDEMIC:
Be Calm & Patient – Although there is light at the end of the tunnel, things will take time to revert back to the pre-pandemic revenue levels. Remain Focused on your long-term objectives, but agile to adapt in terms of the segmentation shift, source of business, and new disruptors. Invest in your team, technology, and be open minded in outsourcing some of the services to reduce your overhead cost. Some areas of outsourcing include but not limited to housekeeping, maintenance, e-commerce, finance, and revenue management.
TOTAL REVENUE:
Better to focus on NetTRevPAR: from mini-bar consumption, menu engineering, room service menu, meeting space areas that could be converted into co-working spaces for SME and startups, etc. As important as to identify such opportunities, we need to know the true cost of each of these potential revenue generating areas and know exactly the flow through on the bottom line. At the end of the day, owners today are far savvier than before, and they would be focused on the profitability of their respective properties.
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