In this viewpoint, we asked 9 leading solution providers to share their views and thoughts on how revenue management will change in the post-COVID era.

Erik Muñoz
Erik Muñoz
Chief Commercial Officer (CCO) at Lybra.tech

The hotel revenue management technology sector is an area where the biggest impact of the pandemic can be seen in a very clear way. Traditional RM technology was reliant upon algorithms, most often based primarily on historical demand patterns - such as booking lead times, booking pickup by segments, and seasonal stay patterns by day, week, or month – as a basis for determining the best possible room rate, at any given time. Of course, because of the pandemic, revenue management systems (RMS) reliant on historical data have now become obsolete, as hotels worldwide are experiencing unprecedented market conditions, which can't be ignored or treated as a temporary blip.

So how can hotels ensure that their property is able to increase bookings and revenue - even if the depressed demand that has exemplified the COVID-19 world in which we're all now living, remains well into 2021 (or beyond)?

Today, the pandemic is requiring RMS to shift towards real-time demand analytics, coming from a variety of important data sources. This article gives revenue managers a complete breakdown of what updates are needed in a property's RMS - and overall revenue management strategy - to ensure their property's profitability today, tomorrow, and in a post-COVID world. 

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