3 Reasons a Curious Commercial Leader is a Successful Commercial Leader

Curiosity: a silent force that propels leading hospitality companies and commercial leaders forward, beckoning them to explore the unknown, question the status quo, and uncover sprinkles of financial gold dust.

From Robert Cross choosing to dip his toes in the waters of hotel Revenue Management, to the modern space-optimizing designs of relative newcomers like Citizen M and The Social Hub, curiosity has been the driving force behind some of our industries greatest innovations. But what is it about an inquiring mind that is so compelling and important for commercial leaders? This edition explores a few reasons why curiosity helps form the backbone of commercial success for hotels and hotel brands alike.

Throughout my hotel career, curiosity has landed me in some tricky circumstances. I've frustrated other department heads questioning how and why their department operates in a certain way, to trying and spectacularly failing to implement a new innovation. At the heart of those self-inflicted challenges was simply the desire to get better and achieve more. Looking back, I could have approached my curiosity in a more tactful way. At times my lack of finesse led to standing on other department leaders toes causing avoidable friction. Occasionally, it led to a short-term loss of commercial performance and left me scrambling to plug the hole.

Equally, I credit this blinkered, single-track inquisitiveness to some epic commercial successes. It is through curiosity, I discovered new and efficient ways of operating and struck competitive advantages in the marketplace. Following are the three reasons why I believe a curious commercial leader is a successful commercial leader.

Innovation and Adaptability:

Curiosity drives commercial leaders to seek out new ideas, technologies, and market trends. From untried technology to an unorthodox pricing strategy, the quest to learn new ways of doing things enables the best of the best to innovate and stay ahead of the competition. By being curious about emerging technologies, market opportunities, or potential disruptions, leaders can adapt their commercial strategies effectively, ensuring the hotel or hotel brand remains relevant and resilient in a rapidly changing marketplace.

Perhaps one of the greatest examples was the dreaded, dare I say it, pandemic. My experience was those that pivoted the fastest, generally out-performed their competitors and retained their most valuable assets - their teams. Especially in the early days, I witnessed many hoteliers sit on their hands and complain about government fiscal policy while others actively and aggressively sought ways to generate income. The rare few that fell into the latter category, took on significantly less, or no business debt. They also formed lasting ties to their local community and their employment workforce proving curiosity can pay long-term dividends. It takes courage to be the first and it admittedly carries some risk, but fortune favors the brave and I'd rather say I tried than settle for mediocre.

Problem-Solving and Decision-Making:

Curiosity encourages commercial leaders to ask questions and explore different perspectives, leading to a deeper understanding of complex issues. This analytical mindset enhances their problem-solving abilities, allowing them to identify creative solutions to challenges and make informed decisions. By continuously seeking to understand the root causes of problems, curious leaders can address issues more effectively, driving business growth and success.

The career project I am most proud of was a ￡6m digitization of a 30+ UK hotel brand in 2015. The project broke new digital ground on items like kiosk check-in and mobile phone access to bedrooms. We oversaw the first hotel in the world to be equipped with interactive Amazon Alexa devices capable of extending your stay, ordering room service, or scheduling services like housekeeping or wake up calls.

Naturally, the project involved a certain amount of risk and not everything was smooth sailing. In fact, our decision to place Amazon devices in the guest bedroom didn't survive the test of time. Waking the brands app within the Alexa device almost required a minor degree and it led to more complaints about privacy than adding to the guest experience positively. We didn't solve any real problem for the guest, but we did learn. The Amazon Alexa failure helped inform our subsequent decision in other hotels. Today, allowing customers to order more towels or room service directly from their own mobile device via an app or via a traditional phone call offers much more value.

Despite the learning on Amazon, many other decisions we made in the project led to significant revenue upside, cost efficiency, operational improvement, and overall guest reviews jumping almost instantly. The ROI exceeded any brick-and-mortar physical investment. Had our curiosity to explore unknown territory waned, we would not have been able to achieve the success we did. The learning is that curiosity comes with some degree of uncertainty and uncertainty can sometimes lead to unagreeable outcomes. However, it's the same curiosity that teaches commercial leaders the right way forward and informs their next decision. Who knows; their next decision could solve their biggest problem and deliver the competitive edge they were seeking.

Continuous Learning and Development:

Curiosity fuels a commitment to lifelong learning and personal development among commercial leaders. By seeking out new information, exploring diverse viewpoints, and challenging their assumptions, curious leaders continually expand their knowledge and skills. This ongoing self-improvement not only enriches their own professional growth but also creates a culture of learning within the organization. Curious leaders inspire their teams to embrace innovation, experimentation, and continuous improvement, driving organizational excellence and long-term success.

It's true; a leader absent of curiosity, is a leader absent of failure. Equally, a leader absent of curiosity, is also a leader absent of opportunity. Those willing to fully explore their curiosity, eventually find successful, lasting outcomes.

Which do you want to be?

About the author: Rob Paterson was a 15-year veteran of Revenue Management before entering the C-Suite and eventually being named CEO of Best Western Hotels Great Britain in 2018, a role he occupied for almost 4 years. He now resides in the US speaking professionally on self-leadership and administrates the Elite Revenue Management Community. To learn more about how Rob can help elevate yours' and your company's performance, check out his web page and schedule a call.