Industry Update
External Article26 August 2020

How revenue managers are rethinking rate structures

The COVID-19 pandemic has revenue managers rethinking rate structures, but it has not led to cutting rates for most hotels, sources said.

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HotelNewsNow.com (HNN)

Demand dropped quickly for U.S. hotels once the COVID-19 pandemic hit, which has led revenue managers to find innovative ways to bring in business, sources said.

During the "Revenue management best practices to get you through the downturn" session at the first-ever online Hotel Data Conference, Carolee Moore, VP of revenue management and e-commerce at Crestline Hotels & Resorts, said "there were a lot of things we would have never considered or even thought we would have to address when we walked into 2020 that we're now doing."

"Broadly speaking, we really had to rethink all of our rate structures; our structures were built for compression maximization, not for low occupancy, really looking at what demand is out there, what their needs are," she said.

Read the full article at HotelNewsNow.com (HNN)

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