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Is the fine line between data driven decision making and analysis paralysis unavoidable?

As most of us have already heard, 90% of the world s data was created in the last ten years, and the amount of data created grows at a faster rate every year. The hotel industry is far from immune, with the various sources of business intelligence available today having exploded from the days when a few large Excel files and a weekly STR report was enough to get every Revenue Manager labeled a nerd. ....

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Revenue management & customer satisfaction: friends, foes, somewhere in between?

In the early stages of Revenue Management, cranking up rates when the hotel was on a clear path to selling out was about all it took to be a successful Revenue Manager. But as digital transformation has taken hold in hotels, the role, and the definition of success, have evolved greatly. Once the gold standard, technical knowledge and decent Excel skills are now table stakes. Today s successful Revenue Manager must focus far beyond forecasting and setting prices. A mastery of the constantly evolving distribution technology landscape, including a keen understanding of every step of the digital customer journey is essential to optimizing market share and total hotel profitability.Today s customer experience begins way before the guest steps foot on property. The ease of finding information before booking, transparency and fairness in pricing, and the effective collection and dissemination of every customer s specific needs form the foundation of a successful hotel stay. And the proliferat ....

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How to build your pricing strategy in today's reality?

Though there has been continual evolution over the last two decades in the way hoteliers monetize the power of data to make pricing and strategy decisions, one constant remained: The dependence on historical data. Then along came COVID-19 and its impact on travel created historical comparisons that were so distorted that they were meaningless in the old decision-making process. ....

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Sales, Marketing or RM? - Who will lead the new commercial team?

The question about who should lead the commercial effort has been a debate among hospitality professionals for a long time. Most hospitality leaders would agree that implementing Total Hotel Revenue Management has been more of a mythical destination than a reality, in part due to the territorial obstacles associated with merging the traditional sales, marketing, and revenue management roles into a singularly focused effort. But now the ultimate reset button, COVID-19, presents most organizations with a unique opportunity to build the organization that matches their vision, without the cost (and pain) associated with dismantling an existing team. The big question is: Who is the ideal commercial leader today and what is the most desirable career path an aspiring leader can take to get there? ....

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Walking the Talk in Hospitality: From Bold Sustainability Goals to Actions

On the sustainability front, the global hotel industry has largely taken an evolutionary approach: measured technological, organization and social innovations and gradual improvement of products, processes and strategies to deal with environmental, social and economic challenges. Data on industry emissions [1, 2] suggest that this approach has been largely insufficient in light of required decarbonization. However, a turning point has been reached with a growing number of prominent hospitality players demonstrating commitments, ramping up efforts and fostering greater collaboration across the supply and value chain with climate neutrality as the overriding goal. This is equally about safeguarding the license to operate as it is about seizing product and market opportunities. Beyond net zero, there are calls for the hospitality sector to harness its regenerative potential by supporting communities and restoring ecosystems where it operates - whether that is in remote places or urban c ....

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