HOTEL BUSINESS REVIEW

October FOCUS: Hotel Revenue Management

October 2023

The future of hotel revenue management lies in the adoption of ever more sophisticated software and technology, especially as it pertains to forecasting and pricing. For revenue professionals, the Age of Big Data has arrived. Managers are utilizing systems that employ leading-edge algorithms and machine learning, along with business analytics and data visualization tools. These tools communicate complex information more effectively, allowing managers to understand the key components driving demand and revenue. They have the ability to analyze real-time external and internal data, produce reports, and integrate information - all on a single platform - in order to improve performance. Managers are also utilizing  geographic information systems (GIS) which incorporate geographic data into forecasting. GIS also help decision-makers identify information in a visual way that cannot be detected through traditional data analysis. The October issue of the Hotel Business Review will report on how some hotels are integrating Big Data into their revenue management strategies.

Run Date:   10/01/2023 - 11/04/2023
Editorial Deadline:   Wednesday, August 16, 2023
Advertising Deadline:   Wednesday, September 13, 2023

Review our 2023 Features Calendar for other editorial opportunities

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in June 2023...

Sales & Marketing: Integrating Technology


The Sales & Marketing department is responsible for maximizing a hotel's revenue by developing programs to increase occupancy and to make profitable use of its meeting and leisure facilities. Increasingly, managers are utilizing sophisticated digital technology to help them achieve those goals. Virtual Reality is being integrated into booking engines which provide potential guests the opportunity to tour a property from afar, including wedding, event and food & beverage facilities. Voice Search has also become a popular marketing tool. Using smart home devices, it's now possible for customers to book hotels entirely through voice commands. Chatbots are becoming more ubiquitous as hotels seek to refine their online customer service. Chatbots can answer common questions, push key marketing messages, increase direct bookings, and even guide customers through the booking process. Finally, hotels are already preparing for the debut of the Metaverse and planning how sales and marketing departments will fully participate. The June Hotel Business Review will focus on the sales and marketing strategies that some hotels are adopting and how they are benefiting from them.