The demand landscape has changed considerably over the past 18 months, requiring operating teams to revisit all aspects of revenue strategy and goals to not only capitalize on short-term opportunities, but also position for recovery. This feature outlines key topics for consideration, as owners and operators collectively plan for the future, while contending with current operating realities and an ever-evolving business environment. READ MORE

Throughout the 2000s the number of hands in our hotels has increased with new OTAs, Revenue Management Software (or RMS), and for some Brand Control. A question all hoteliers should be asking themselves is: Is 100% of my hotel inventory available to sell 365 days of the year? The answer is unequivocally "No", regardless of brand affiliation, franchise, or independent. READ MORE

During COVID-19, ownership groups and management companies took organizational decisions that impacted the effectiveness of Revenue Management. As business ramps up and we observe changes in the segmentation and channel mix, we need to quickly shift gears, and not just to how it was before. A deep dive in our labor model and our approach to Revenue Management systems is key to effectively support the discipline and increase hotel revenues on the long term. READ MORE

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