How Hotel Revenue Strategists Define Success When the Data Turns Upside Down
Experts Still See Value in Market Share, Traditional Key Performance Indicator Data
Measuring success in revenue management has long relied on things like year-over-year comparisons and gauging market share to show a long-term growth trajectory, but how can companies do that when the data they rely on is following patterns unseen in the modern history of the lodging industry?
DALLAS — Measuring success in revenue management has long relied on things like year-over-year comparisons and gauging market share to show a long-term growth trajectory, but how can companies do that when the data they rely on is following patterns unseen in the modern history of the lodging industry?
Speaking with HNN during the 2021 HSMAI Revenue Optimization Conference in Dallas, a group of revenue-strategy experts said they've had to adapt how they look at data in order to identify positive or negative trends, but that doesn't mean the historically important key performance metrics no longer carry weight.
Cassie Bond, vice president of revenue strategy for Chesapeake Hospitality, said she keeps it simple.