World Panel
Viewpoint 3 December 2020

Do we need a new revenue management toolkit for 2021?

Revenue Optimization

— 18 experts shared their view

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This viewpoint was created by
Scott Dahl, Program Director, Master’s Degree in Hospitality Strategy and Digital Transformation at Les Roches Global Hospitality Education
Sharad Kapur
Revenue & Distribution Strategist

Any hotel that is just embracing revenue optimization technology or opening a new hotel must review its needs from the system. A revenue optimization system can help an asset look at data differently and granularly when combined with pace.

First and foremost a system that can forecast given current environments will surely be seen as delivering the best possible value. If a system is user friendly and requires less training and management, then it helps the hotel (s) focus on getting the best out of the system and use fewer resources. Go for the technology that is supported by a company that has depth in statistical and mathematical computations and has good ratings amongst hotel groups.

Some of the key trends worth investing in;

  • Predictive attribute-based and product-based pricing that focuses on profit
  • Total Revenue Management – Has been around for a long, but the need of the hour to embrace it and move forward
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