A Post-Crisis Top-3 Revenue Management Action Plan
Revenue Optimization
— 14 experts shared their view



Vice President HSMAI Asia Pacific
I think the paradigm shift we need to take when we look at strategies post-crisis is that this isn't just any crisis that we can easily recover from - the battle against COVID-19 worldwide has triggered reactions that are similar to a war. Hence the pace of recovery and type of recovery that we expect will not be the same as other crises. see more

Non-traditional Revenue Manager & Consultant
As we won't be able to rely on historic data and previous trends for a while, it will be increasingly important to develop a greater understanding of demand-, booking- and cancellation patterns moving forward.
A sophisticated business intelligence tool (and someone who knows how to use it well) which helps you gain new insights into the profitability and opportunity of all aspects of your business is essential in achieving this.
see more

CEO, InTown Suites and Uptown Suites
The hotel industry is cyclical in nature and we witnessed an extended recovery period after the decline that followed the financial crisis in 2008. There has been an increase in room inventory as well and an influx of hotel brands; certain chain scales are now crowded. see more

Director at Revenue by Design
One way to break down the top three revenue strategies is to look at what you need to be doing now, what scenarios you need to plan for in the short term, and then extrapolating how these scenarios may then impact the mid and longer-term, on the understanding that there will never be a specific end date on this, and many new factors we need to come to terms with. (Click here to see a full version of my article) see more

VP of Revenue Strategy at Marcus Hotels and Resorts
As we know, every day has changed the way we think about tomorrow so my top 3 will probably change multiple times as we continue to evolve and start to come out of this., but today here are my top three action items for myself and my team. see more

Principal | Revenue Generation, LLC.
As a revenue manager, it is important to keep close tabs on pace data and more specifically where the pace is coming from. The demand may not be from the traditional channels as business and group travel may be further delayed in the recovery. I would also ensure you look for opportunities in your backyard. Perhaps there is an extended stay package you can put in place for those that have been exposed and want to ensure they do not expose their family. Finally, having keep your eye on pricing and channel production. You can get creative with value add or packaging without dramatically dropping your overall ADR. see more

Adjunct Professor NYU Tisch Center for Hospitality and Hospitality & Online Travel Tech Consultant
Here are the three main action steps in revenue management in the post-crisis period:
1. Break down the silos! The post-crisis requires a completely new approach to revenue management (RM), not going back to the old ways of doing RM. see more

Program Director, Master’s Degree in Hospitality Strategy and Digital Transformation at Les Roches Global Hospitality Education
Even if you were in a leadership position following September 11th, no hospitality professional has ever seen conditions like those we are living through today. Still, there are lessons we can learn from past events that will help us to avoid repeating costly mistakes. From a grey-haired Revenue Manager who used to think he had seen it all, here are a few suggestions: see more

Wise revenue managers will be using this period of relative booking inactivity to focus on two areas in tandem: see more

Task Force Director of Sales & Marketing and Revenue Management Consultant
While none of us have any idea when the virus outbreak will be contained and when currently closed hotels will be allowed to open again, we can and should get ready for the day which will eventually come. At the same time, we can't plan too early without proper data and information. see more

It's true that the hotel industry has been through many storms. However, it has never seen a black swan event like this one. As the leading brands expect revenues to decline by an unprecedented 70% or more, millions of people are out of work and we are still 3-6 weeks away from the peak of the crisis. Depending on the country or region, it's difficult to discuss actions to take for a recovery which might not start to happen in earnest until Q4 2020 or beyond. I do see some common plans you can pursue independently though, based upon where your hotel is located or when the recovery will take place: see more

Founder/CEO at The Revenue Company
This post-crisis plan needs to be very asset-specific. It will be critical to determine what works to your advantage. see more

CEO of RoomPriceGenie
I would suggest that a great idea at this time is to use the enforced break to re-envisage what you want your hotel to be. Whilst the operations are running, it is often difficult to stop and think about this vision. More than that, it is hard to put things in place on a moving vehicle. To use this time for learning, if you are not a revenue management professional, I can recommend this course from ESSEC on Coursera. see more

Top 3 for me:
- Get your house in order and reset up your distribution and data set up. Now is the time.
- Stop being fascinated with last years pacing and trend. the new world order is short trends.
- Think macro, not micro as dominating industry trends.