In April 2013 I wrote an article for Hospitality Upgrade magazine about Total Revenue Management. My premise was that by the year 2020 the industry would be well-entrenched in total RM…that elusive goal of managing every revenue source at every guest touchpoint to its maximum profitability.
Webster's Dictionary defines 'generation' in various ways. One definition is…"all of the people born and living at about the same time, regarded collectively". Another is…"a group of people of similar age involved in a particular activity.
In this highly thought-provoking piece, originally published in the HITEC 2014 Special Report, Bonnie Buckhiester of Buckhiester Management, Ltd., explains the need to move away from the conventional concepts of marketing, sales and revenue management, and to think instead in terms of demand creation, demand capture and demand management.