NASHVILLE, Tennessee — Growing market share is the name of the game for Remington Hospitality in the remainder of 2024.
Speaking during a video interview with HNN at the recent Hotel Data Conference, Gilbert Arredondo, senior vice president of revenue strategy at Remington Hospitality, said performance in the U.S. has differed from market to market so far this year, so prioritizing market share growth is a safe bet when it comes to driving profitability to the bottom line.
"Market share and profitability really go hand in hand working with your sales team, working together with your marketing team, but really our goals for the rest of 2024 is to gain momentum for 2025," he said.
Markets such as the Pacific Northwest, New York and Boston have been performing well of late, while Southern markets such as Austin, Texas, have taken a step back during the summer months, he said.
Arredondo said on the HNN podcast last year that hiring skilled talent in the revenue space was difficult. One year later, he said it's gotten "a little bit better," but uncertainty in the economy has made potential hires more hesitant to make a change in their careers.
"You're starting to see more opportunities out there for individuals, which is great. Obviously you want to see people grow," he said. "I would say we definitely are starting to improve from where we were about 12 months ago."
Another key focus for the remainder of the year will be maintaining what has been "really good progress in group bookings."
"How we sustain that and how can we grow on that into 2025 is going to be key for [our] hotels," he said. "How can we build that group base and then the rest of this year, really capture that market share and outperform our competitors. That's what it's about."
For more from HNN's interview with Gilbert Arredondo, watch the video above.