Airport Hotels Refine Revenue Management Strategies

Air travel delays and cancellations have become an unwanted phenomenon these days, fueled by labor shortages and rising fuel prices. Airport hotels have been particularly affected, as they sometimes need to house an unexpected flurry of last-minute stranded guests.

As these disruptions continue into the last vestiges of summer, airport properties are adjusting their revenue management accordingly to accommodate higher-demand periods. They need to use all the data available to them to best adjust room rates.

"Hotels in airport areas and nearby submarkets are working aggressively to partner with airlines and to also create awareness in order to attract distressed passengers, airline crews and other employees who work in airport operations," said Tim Dick, executive vice president of hotel advisory and asset management at CBRE Hotels.