In a virtual roundtable discussion hosted by HSMAI Europe on Thursday last week, senior revenue management executives gathered to delve into the evolving landscape of Creating a Total Revenue Management (TRM) Culture in the hospitality sector. The discussion was moderated by Shumi Khan, SVP Business Intelligence & Revenue Management Accor Hotels and Chair of the HSMAI Europe Revenue Optimization Advisory Board.
On the evening of Thursday, 25th April, The Savoy Hotel, London, welcomed a gathering of young talents and leaders in the hotel, event, and travel industry. The first of many events in London hosted by the HSMAI Europe Rising Leader Council team aimed to facilitate professional and social gatherings for the exchange of experiences and networking among young talents and leaders aged 35 and under.
As hospitality businesses navigate a “new normal” in 2024, many of the top owners and operators have shifted focus from traditional annual budgeting to a more dynamic and responsive forecasting approach. In the wake of an uncertain economic outlook and ongoing challenges, many are recognizing the need for continuous attention to their hotel forecast, utilizing real-time data and technology to make smarter budgeting decisions. Let’s explore key budget and forecasting strategies to guide you in 2024.
AI for productivity, hyper-personalised HR, responsible travel, and Total Revenue Management culture pinpointed as industry game-changers by association’s members.
Article - Total Revenue Management and the Mi$$ed Opportunities - By Katerina Papadima - Total revenue management is not a new concept, but it is one that hoteliers will embrace more for the years to come. To implement it, though, we first need to define it. What is total revenue management?