Podcast Interview: Elga Castro | Sr Dir Revenue Mgmt BU South. Europe | Nh Hotel Group. Spain

Interview: Elga Castro | Sr Dir Revenue Mgmt BU South. Europe | Nh Hotel Group. Spain

Although a teacher by education, Elga has been a pioneer on the revenue management field for over 20 years.

From her beginning in the industry in the UK, to her move to Spain to the first privately owned Spanish company that invested in Revenue Management (Vincci Hotels), to then be hired by Nh and overlook 180+ hotels, Elga has enjoyed great success in her roles.

She is extremely knowledgeable, and during the conversation we touched many topics. Some highlights:

-Daily not-routine role: Making sure strategies (long and short) are implemented in each property (in her case, in ESP, POR, ITA, FRA & NYC).

-Pricing and forecasting must be holistic, revenue must understand the distribution mapping, pricing and strategy and be aligned when it comes to communication with Sales & Marketing.

-Corporate hotels have been surprisingly resilient during the pandemic, thanks to transient corporate, B2C, loyal guests, corporate accounts. -67% of hotels in her portfolio are open (March 2021), although a rush of leisure holidays are expected. -When it comes to technology, hoteliers that have been savvy and predicted and invested in tech, now have a clear advantage. Tech helps you focus on the important. -In regards to education, it’s very important to stay up to date as it’s a field that is constantly changing. Being aware of the financial data of the Hotel is key. Then you can have a deeper focus on maths and statistics, or more on algorithm and PMS integration; or better “hands on daily operations” approach person. Everyone needs to understand the rationale behind building pricing decisions. -Attitude is key: be willing to be challenged daily, self criticism. Also everlasting optimization, as everything can continue being optimized. -Advice for younger generations: Keep improving, optimizing, be ready for the daily challenge, be eager, passionate, full of energy, understand what you are selling, have empathy with guests and customers, understand also the comp set, be aware and stay informed. As for the current scenario, a tip for the young ones: it´s daunting, but never give up, stay passionate. And remember: “as long as there is a perishable inventory, it can be optimized”. I hope you find it as insightful as I did.