Since their emergence in the early 2000's revenue management roles have become a critical component of the hospitality industry. Training and development resources for revenue managers have grown considerably in response to this change. Given the likelihood of turbulent times in 2020 – the result of an abundance of new supply, trade wars, the continued proliferation of brands, and other social and economic factors – as a general manager or asset manager the need for a skilled revenue manager is becoming more and more essential. This article provides an overview of the ideal revenue manager, including their most needed attributes as well as how best to measure performance. READ MORE

Hotel chains are using mergers and acquisitions to expand their portfolios and increase revenue, but many don't consider the impact on Revenue Management. For many, the acquisition results in disparate Revenue Management systems that don't integrate with the different brands or create efficiencies of scale. Additionally, some go with an off-the-shelf solution that doesn't take into account the needs of the different mix of economy vs. luxury brands. This article provides an insight into the most common problems hotel revenue managers encounter with mergers and acquisitions, plus some solutions on how to address them. READ MORE

Artificial intelligence has become a prevalent part of our everyday lives. From the digital assistants in our homes providing us with access to virtually anything we can think of to the AI-powered apps helping us make important financial decisions, we rely on AI to boost efficiency and productivity in just about every area of our lives. And while no industry has been impervious to the impact of artificial intelligence, hospitality has seen especially significant changes due to the rise of the machines. In this article, we look at how AI has affected the end-to-end guest experience from booking to checkout. READ MORE

Reaching maximum profitability is an obvious goal. Reaching that goal can be a challenge. Marcela Trujillo, an experienced revenue consultant, explores going beyond RevPAR into market segmentation and how to develop better strategies for attracting the right customer through the right pipeline. Are direct bookings really the least costly? Sometimes, but the source of the direct booking affects net profitability. Will GDS bookings yield a higher ADR than other channels? Sorting out the details of the world of OTAs will help find the true costs and their affect on the bottom line, providing an understanding of optimal business mix. READ MORE

Revenue management as a discipline has evolved over the last 10 to 12 years. The revenue cycle at hotels is no longer just rate changes online, on direct booking channels or the OTA extranets anymore. With the incorporation of ecommerce into the selling strategy revenue managers are encouraged to be more dynamic and forced to think outside the box. Having dynamic pricing strategies driven by the brand and a stronger global presence in the overall accommodation space through partners like Air B & B, Vacation rental hotels have numerous options when it comes to partnerships. READ MORE