Over the years, in my job as a journalist, I had the pleasure of interviewing the CEOs of most of the PMSs currently available in the market (and some extinct ones, as well). During these conversations, I've always found it fascinating to observe how diverse their approaches towards technology are.
Even before being acquired by the Marriott group, Starwood began implementing dynamic pricing automation, increasing its revenue by 5% in just one year.According to Don Kelly, VP of Sales, Pricing, Distribution, and Revenue Management at Accor, 80% of the group's revenue growth in North America in the business and leisure sectors was the result of their dynamic rate management with Open Pricer (a machine learning company that provides real-time prices to online sales channels).
It's no mystery what my feelings are toward technology. I've been a technophile for most of my adult life, and I have a book on post-human hospitality coming out next year. You can go as far as calling me a transhumanist, too.
Cost-optimization has always been a central notion in revenue management. That being said, the pandemic brought renewed attention to the topic. Today, more than ever, proper cost control is crucial to navigate these difficult waters and prepare for the "new normal.