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HOTEL BUSINESS REVIEW

OCTOBER FOCUS: Hotel Revenue Management

 

Breaking Down Revenue Management in the Era of Big Data

By Michael McCartan Area Vice President, EMEA, IDeaS | October 2023

To the average hotelier, for whom technology companies have promised the moon over these past few years, the concept of "big data" must often feel like an impenetrable buzzword.

With everything from smartphone apps to door locks to checking in on guest activity, operators have long had more data than they could ever hope to sort through efficiently, and the big data conversation in hospitality has been overwhelmed with noise or misdirected by the wrong information.

Our new focus as revenue managers is to expand our data pool to include other departments across hospitality, provide more relevant data points, and use visualization tools to make it all understandable-and actionable.

Today's revenue managers understand the forces that impact our industry better than any other moment in history, but this isn't necessarily thanks to the volume of data they are working with. For one, data is much easier to gather today than in the past due to more consistent buy-in from hotel leaders and trust from travelers. In other cases, our improved ability to parse data for actionable insights has helped dial back the noise and focus on what's necessary to grow our businesses intelligently.

Ultimately, the quality of the data set and the speed at which it can be gathered matter most. These factors are at the heart of an important and necessary change: a redesigned tech stack that foregoes a siloed operations style in favor of one that brings departments together. Hotels must embrace this concept to understand the key performance indications impacting their business today and how they must evolve tomorrow.

It's time to prioritize the authentic data sets capable of moving the needle regarding demand and revenue. The key lies in the scope–and speed–big data provides.

New History

Recent history has proven that the more granular and recent the insights, the more beneficial they are to hotel revenue strategies. Historically, revenue management technology has been adept at tracking historical demand levels and identifying what drove this activity, where it was generated, and how it impacted your business. What it couldn't do was allow data scientists to drill into the root causes of this data, to take an exploratory journey to examine data from multiple perspectives. Most importantly, these insights often came a day late or longer.

These systems relied heavily on historical data to make accurate predictions. Hotels had access to ultra-reliable forecasts but could not react to quick changes in market dynamics. Decision-making wasn't taking place in real time.

Recent events have done away with the reliability of historical data in a vacuum. Revenue management today is much faster-paced. Hotels using advanced revenue management technology can quickly adjust rates hundreds or even thousands of times each day based on more frequent trends and booking behavior updates. Increased competition and the adoption of revenue management tools have made the industry's most consistent and highest-earning hotels more agile as they untethered themselves from past historical expectations. Hospitality leaders are writing a new history for their hotels, one backed up by data science and viewed through the lens of revenue management.

Automation is at the core of this evolution. Revenue management professionals once oversaw individual hotel departments, but today, they are expected to manage multiple properties and sometimes entire portfolios. This level of accountability is only possible through advanced automation supported by machine learning.

Hoteliers have long been resistant to automation, and often, their reluctance makes sense from a practical standpoint. Most hoteliers joined the industry to provide the best possible guest experience, interact with travelers, and deliver hospitality. Any perceived excessive use of technology seemed counter to the hospitality industry's service mindset but this is not the case, especially in revenue management. The prominence of readily available automation tools has proven that machines are more effective than any human at understanding data and extrapolating patterns from within, which is for our industry's benefit.

Achieving the degree of speed and accuracy advanced revenue management systems are now capable of is no small feat. It requires more information than individual hotel departments can collect on their own. This is where big data enters the equation, and it has been the most significant barrier to achieving total revenue optimization in hospitality–until recently.

Dependence on Other Systems

One of the core truths about hospitality is that it takes a village to achieve anything worth bragging about. When hotels operate at capacity, it's crucial for the front desk, housekeepers, maintenance workers, IT, marketing, and more to be in complete alignment. Operations break down when the front desk fails to provide adequate information on guest needs to housekeeping, or maintenance doesn't communicate completed work orders promptly. Individual departments rely on each other for support, awareness, and action.

A hotel's data environment is similar to the former in many ways. Revenue management systems can cast a wide net of information on guest booking data. Still, these systems typically look at a narrow view of the market in the bigger picture of overall hotel operations. They are only seeing their corner of the revenue snapshot.

Big data plays a significant role in expanding operators' awareness of the global marketplace and how to shape a revenue strategy in their favor. With the right tech stack, every aspect of hotel operations can be shared among departments to optimize their value through automation and machine learning. The reality of big data analytics is that they are too immense and shift too quickly for individuals to parse manually. They must be automatically fed between departments and then automatically examined based on specific needs to develop their findings.

Creating such a tech ecosystem often requires rethinking your technology strategy from the ground up. The information must be shared between departments in an accessible manner because these departments depend on one another for success. Revenue management can benefit sales and catering, and vice versa, in ways that revolutionize a hotel's earning potential and even reshape how a hotel operates. It can optimize purchasing, rethink a hotel's products and services, and proactively identify a property's most valuable customers at the right moment to secure a booking.

Belief in Data

Until recently, data as a discipline was still relatively unproven among hotel operators. Revenue management technology's adoption across hotels is growing but remains just a fraction of the total hotels in operation. However, this trend is now beginning to change on the back of revenue management's success during a recovering economy. Despite significant competitive differentiation and the opportunity to fully understand demand drivers, revenue management's most important selling point was the advantages provided throughout the pandemic. Big data is finally being leveraged to help operators spend more time with guests while making their jobs more valuable.

Because hotels are creating new historical data to compare to past business cycles, revenue managers have been turning to big data analytics to help them see beyond traditional sources of information. When departmental barriers are brought down, unlikely allies can be made, such as mutually beneficial relationships between digital marketing and revenue management. Revenue management examines transactions to understand who is booking what and when, while connections to digital marketing can be leveraged to include insight into who is behind that demand.

Technologists have made strides in simplifying the booking process for travelers, so why not flip the script and help hotels find the right guests? When operators understand more about who is booking with them in real-time, their profile, and what type of demand they command, hotels can go beyond offering optimized rates to these travelers. Over time, the hotel can take action to attract more of that profile of guests based on their booking preferences.

This level of granularity creates an avenue for a more detailed analysis of your guest's demand. Tools fueled by big data processing allow for prescriptive analytics and can provide insight that you can then use to encourage bookings from your ideal, most profitable customers. Simply put, it gives hotels greater agency over who stays with them, when, and at what rate.

Tapping into big data to look beyond the present–and beyond the guestroom–will be the key to the future of profitability. Hotels must apply revenue management principles to understand and manage costs, push ancillary revenue, optimize distribution spending, and keep track of guest preferences and expectations. Revenue management can provide invaluable insight into optimizing each of these departments or needs, but it needs keys to the data to do so.

The most significant barrier to achieving these capabilities across hospitality is today's tech ecosystem. When hotels begin merging data between departments, they can build a picture of their most reliable and desired guests and channels. This allows hotels the competitive knowledge to prioritize these channels, proactively targeting or closing specific channels to create a more holistic view of revenue management.

Knowledge is power, and it is also the gateway to total revenue management.

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Kylie Uvodich Understanding the Perspectives of Hospitality Workers
  • By Kylie Uvodich, General Manager, Americas, SafetyCulture

    • No matter your hotel’s style, size or location, one thing remains true – hospitality relies on the human touch. Customer experience, efficient operations, and the management of health, safety and risk on the ground; none of these are possible without an effective frontline. Considering the importance of frontline workers in the hotel industry, sometimes management knows surprisingly little about these workers. What are morale and job satisfaction like, which might impact customer experience? How are workers feeling about the tools and IT systems they use every day, or about the future impact of AI on their role? Is there...

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Jamie Bruce Tech Innovations Driving the Future of Meetings
  • By Jamie Bruce, President, Teneo Hospitality Group

    • The meetings and events landscape has been reshaped by a profound shift in recent years, with technology playing a leading role in how professionals are connecting, engaging and collaborating. This rapid expansion reflects the increasing reliance on digital solutions to streamline event planning and enhance attendee experiences. From AI-driven matchmaking to touchless check-ins and interactive floor plans, innovations are making meetings more efficient, immersive, and data-driven. As the industry continues to embrace these advancements, here’s a closer look at 11 key technologies defining the future of meetings. 1. Touch-Free Check-Ins and Digital Credentials The adoption of QR codes and smart...

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Ian Renton Unforgettable Meeting Spaces: Atlantis, the Palm Where Luxury Meets Adventure
  • By Ian Renton, Director Sales, Atlantis Dubai

    • Atlantis, The Palm, located in Dubai, is the ultimate entertainment destination to host an upcoming gathering or event. From spectacular rooms and suites, vibrant entertainment settings, captivating backdrops and extraordinary activities, every occasion is designed to deliver an unforgettable experience. Atlantis, The Palm boasts an impressive 13 meeting rooms, three ballrooms and one boardroom, perfect for corporate events, conferences, galas or celebrations. From small and informal to spectacularly bold - and everything in between - these venues will no doubt wow any attendee. Meeting spaces are spread throughout the resort with a mix of indoor and outdoor options to...

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Matthew Gray The Art of Culinary Presentation in Hospitality: Elevating the Dining Experience
  • By Matthew Gray, Vice President of Culinary, Valor Hospitality Partners

    • In today’s competitive hospitality market, food presentation isn’t just about making dishes look great—it’s about creating an experience that speaks to guests before they take their first bite. Within my role, my goal is to ensure every dish we serve tells a story and reflects who we are as a brand. Food presentation, for us, is about bringing together our identity, our team’s creativity and the best ingredients in a way that resonates with guests. We recently transformed our food and beverage arm with the introduction of SAVOR, to focus on kitchen & bar innovations. This will strengthen our...

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Frank Vertolli How Gen Z and Social Media Have Turned Traditional Marketing on Its Head
  • By Frank Vertolli, Co-Founder, Net Conversion

    • In marketing, the funnel has long been seen as a linear path: awareness, interest, decision, action. Marketers depended on this sequence to guide their strategies. But thanks to Gen Z and the omnipresent force of social media, this model is crumbling. The End of Linearity Gen Z has shattered the traditional linear purchase pathway with their nonlinear shopping habits. Due to their constant immersion in online information and peer recommendations, they often dive into the interest or decision phase directly, bypassing the traditional awareness stage entirely. This shift is especially pronounced in the travel industry. Purchasing journeys...

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Kathy Colon Designing With Cultural Reverence
  • By Kathy Colon, Founder & CEO, Nova Lux DR Properties

    • Imagine setting foot in a luxury hotel that’s totally unique. What would it be like? Guests would come to visit because it offers an entirely new experience they can’t get anywhere else in the world. But what does it take to design and develop a luxury hotel like this? Here’s a glimpse of what such a hotel would look like. It looks like it belongs in the local community in a variety of ways. Indoor and outdoor spaces have been designed with the local culture in mind. Textiles and local customs have been integrated into the hotel’s spaces in...

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Adoniram Sides Consumers Expectations Have Changed, Here's How to Keep Up With The New Demands
  • By Adoniram Sides, SVP, Hospitality, Lightspeed Commerce

    • As the hospitality industry continues to evolve based on macroeconomic developments, the guest experience is also continuing to transform. Diners, more attentive toward how they are spending their money, are increasingly seeking more than just a meal—they’re craving an elevated experience that justifies opening up their wallets. We were curious about how diners were shifting their habits within the restaurant environment, so Lightspeed polled over 7,500 consumers across North America and Europe to get a sense of what is important to them. From immersive dining environments, to ethically sourced ingredients and cutting-edge culinary techniques, the modern diner demands...

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Ahmed Mahmoud The Next Hotel Revenue Manager Generation in the AI Era
  • By Ahmed Mahmoud, Founder, revenueyourhotel.com

    • In today’s competitive hospitality industry, revenue management is the key to success. It’s a blend of strategic thinking and data analysis, and it’s constantly changing. Traditionally, revenue managers relied on experience and manual tools, but now technology is revolutionizing the field. Artificial Intelligence (AI) is now transforming the field. This shift goes beyond simply using new technology. It marks a fundamental change in how professionals approach their work. AI in revenue management isn’t just about having new tools; It’s about a new way of thinking that merges human creativity with the incredible power of modern AI. But the...

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Erika Harms Redefining Hospitality Through Sustainability and Innovation
  • By Erika Harms, Global Director of Sustainability, Iberostar Hotels & Resorts

    • When TIME Magazine named Iberostar one of the 100 Most Influential Companies of 2025, we felt so proud—but also humbled. A recognition of this kind is not the destination of our journey, but a reminder that we are on a good path, even as so much work lies ahead. For us, sustainability is not a project or a campaign. It is a transformation—one that began with the Fluxà family’s long-term vision and Gloria Fluxà’s bold decision to launch Iberostar Wave of Change in 2017. Her conviction was clear: the future of tourism depends on healthy oceans, thriving...

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Heather Berti What Can Companies Do to Improve Generation Z Retention?
  • By Heather Berti, Senior Vice President of People Services, Arlo Hotels

    • Generation Z is making headlines as it replaces millennials as the youngest generation in the workforce and introduces its own perspectives and approaches to work life. According to the United States Department of Labor, Gen Z accounts for almost one-fifth (18%) of the labor force, surpassing baby boomers. That number is expected to grow as more individuals from this generation graduate from college and enter the workforce. With every new generation, there’s a learning curve for the generations that came before. Generation Z has already made its mark with its expectations for work-life balance, company culture and more. Still, perhaps...

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