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To fully understand how the practice of revenue management evolved within the hospitality industry, we have to start with what was a chance encounter between two people named Smith on an American Airlines flight from Los Angeles to New York in 1953.
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ITHACA, N.Y., June 1, 2021 /PRNewswire/ These and other findings are found in How Hotels Have Responded to Covid One Year Later, by Kimes and Roberts. In their worldwide survey of 391 hoteliers, they found that since demand was limited, hoteliers concentrated on trying to generate demand while maintaining rates. There was also an emphasis on providing value-added features rather than offering discounts.
Hoteliers were genuinely surprised at how resilient that both they and their colleagues had been.
Staycations have been very popular during the pandemic and many respondents plan on continuing them even once travel barriers are reduced or removed.