As another budget season in the books, it’s a good time to pause and reflect on the lessons learned from this critical period. I talked with the HSMAI Rising Revenue Optimization Leader Council about the challenges faced and strategies employed during this time. Here are our key takeaways for future planning and continuous improvement.
How do we know that we’re doing well compared to competitor hotels in our area? The HSMAI Rising Revenue Optimization Leader Council grappled with measuring performance with limited competitor data and unreliable year over year data. Here are ways that we are measuring success: