This budget will be the starting framework for our action plan for the entire year, and we want it to be as proportionate as possible to the amount of revenue risk. If you are diligent to do your market research, quantify implications of your revenue risk, and pre-plan for contingencies, you will set your hotel team up for success for the year ahead. READ MORE

The pandemic has forced us to fiercely restructure our organizations. To streamline revenue processes with the downsized staffing, maybe the time has come for the hospitality industry, to seize the day and address those much-needed innovations we've been muttering about for years. Is now the time for revolutionary changes in how we structure revenue optimization in hospitality? In a word, YES! READ MORE

Sporadic demand has resulted in a lack of confidence in historical demand-based pricing models and occupancy trends. This article explores how revenue managers can develop an understanding of future demand. Future demand hinges on understanding guests and understanding forces driving changes in market demand. Can predictive analytics be used to predict future business levels? READ MORE

The slow and steady US hotel recovery is well underway and the rebuilding of teams will gain momentum in the coming months. The supply of must-have progressive revenue strategy leaders for the new industry landscape will likely be less than the demand. However, there are a few proactive solutions hotels and resorts can take to get ahead of this key leadership position shortage in the coming months as they recalibrate and rebuild their teams for 2022 and beyond. READ MORE

Since March 2020, hoteliers have been adapting to dynamic demand patterns and customer behaviors. The crisis has led to savvy hoteliers employing a new-era revenue management strategy, which is likely to endure after the virus fades. The pandemic has prompted hoteliers to analyze virtually all aspects of their businesses in order to run as lean and profitably as possible. READ MORE