The field of revenue management is evolving with breathtaking speed. While fundamental priorities remain unchanged, new tools and new technologies have introduced new priorities. Hotel owners and operators who want to remain competitive need to work to break down the traditional boundaries that have existed between revenue, marketing and sales. Making that happen requires a more engaged and versatile revenue management team and an organizational commitment to applying a keen revenue-management-driven eye across departments. But breaking down those departmental silos means overcoming inertia and institutional resistance, and building a resourceful, coordinated and collaborative team. READ MORE

Modern hotel distribution is dominated by online channels, across both direct and indirect bookings. While the internet has increased complexity and created new challenges, it also brings a number of new opportunities. Activities and transactions in the digital world can be monitored, tracked and analysed. And unlike other disciplines, hotel distribution is uniquely positioned to work with forward-looking data. Hoteliers can get a true picture of how the hotel inventory is being sold and its impact on future bookings. Early wins are going to hotels that are recognising the opportunity to be more diagnosis-led and adopting an agile mindset. READ MORE

Humans and current hotel systems can't handle the complexity of big-data analytics alone. As the hotel tech stack of the future becomes a present-day reality, revenue managers and their leaders will depend upon automated systems, the most advanced artificial intelligence and revenue science to handle tremendous amounts of data and build innovative, customer-centric pricing and promotions strategies. In this article, we outline how hoteliers can drive their strategic future and build insightful, effective and agile pricing, promotion and distribution strategies to meet the ever-changing needs of their guests and enhance profitability. READ MORE

Technology has been dramatically changing almost every field and industry in the last couple of years and the hospitality one makes no exception. The transformation could be perceived as either positive or negative, but is undoubtedly disruptive. And the customers have no intention to wait for the industry to adapt. On the contrary, they require the best services possible. That is why, hospitality executives and the human resource departments have no choice but to implement efficient software in their operations and keep up with the ever changing environment in the field, keeping their employees engaged and their performance optimal. READ MORE

In the era of Big Data, the importance of a strong relationship between a hotel's Director of Sales & Marketing and the Director of Revenue Management can lead to positive revenue results while also fostering a highly effective sales team with positive group morale - or it can fundamentally handcuff a property's ability to successfully navigate today's hyper-competitive environment. High-performing DOSMs and DORMs should absolutely challenge one another routinely, approaching every disagreement as an opportunity to learn from one another and leverage one another's viewpoints to generate the best solutions to complex problems. READ MORE