From Convenient to Central: How Technology Is Driving the Future of Revenue Management

The following is an excerpt taken from SiteMinder’s blog.

Technology has undeniably brought a world of convenience to revenue management. And, as we look to the future, it will take on a greater and more central role as the practice undergoes a fundamental shift.

If we talk about the future of revenue management, we should start with the very fact that it should no longer be called “revenue management”. We need to rename the practice to “revenue and profit optimisation”, and start thinking about profit-oriented metrics beyond RevPAR (Revenue Per Available Room). Ira Vouk, a hospitality consultant, acclaimed author of revenue management publications and member of the HITEC Advisory Council

In a future that demands a greater focus on revenue and profit optimisation, technology will become increasingly pervasive, driving the convergence of data, systems and people. Indeed, this convergence is already taking place and, looking ahead, these three factors, which have traditionally operated in silos, will become more interconnected than ever before.

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