Six years ago I attended the Revenue Forum in Brussels. It was my very first industry event. I remember the potential threat posed by Business Intelligence to Revenue Managers was a hot topic. Back then Revenue Managers spent a fair share of their time manually compiling data from various sources into a single, giant, Excel sheet that could be analysised for optimisation. As BI solutions became more widespread, some revenue managers feared that their roles would become redundant. If they weren't going to be the masters of the giant Excel, what were they going to do?

Fast forward to today and it's clear that BI solutions have actually become the Revenue Manager's best friend by automating the mundane, freeing up valuable time for the more tactical and strategic work. 

In the next few years, I expect AI to have a significant, equally positive, impact on revenue management. With the ability to analyse vast amounts of data and identify patterns, AI-powered tools can make accurate predictions about future demand. Additionally, there are already several AI-powered pricing tools available that can help revenue managers optimise pricing strategies and increase revenue. At Lighthouse, we have recently introduced "smart summaries," a popular new feature that utilizes GenAI. We are continuously exploring the potential of AI and plan to integrate it into more areas of our product suite in the near future.

The role of the Revenue Manager is ever evolving, lately I'm starting to see more Commercial Strategists and Total Profit Managers on LinkedIn. With the help of AI applications, "Revenue Managers" will be able to drive success for the hotels they manage in a more efficient and effective manner.