Nothing divides revenue managers more than the discussion around artificial intelligence and machine learning. The two schools of thought fall into the category of technophobics and technophiles, with AI-enthusiasts on one side and Luddites on the other. As usual, in medio stat virtus, so it's time to ask the right questions about the use of AI, ML, BI, blockchain, advanced analytics, etc. in our industry. What, if any, technology(ies) can facilitate the work of revenue managers? And will revenue management as we know it disappear with the rise of AI?

Niki Van den Broeck
Niki Van den Broeck
Product Manager - Parity Solutions at OTA Insight

Our industry is experiencing a technological (r)evolution. The rise of AI, Advanced Analytics and Machine Learning will reshape the role of the modern-day Revenue Manager. There's this quote that says, “Without data you're just another person with an opinion.” and I believe it likely resonates with Revenue Managers as they are analytical thinkers above anything else. Technophobes might worry that embracing technology will make their role superfluous. I'm confident that it's the other way around. By building a technology stack that's tailored to your hotel you'll manage to incorporate more data sources. The more you know the better-informed decisions you can take.

With Get Into MoRe we offer both an AI and Advanced Analytics solution. I'd say it's always best to have both. In its current form AI is most suited for short term tactical decisions. Here lies real value as it will help save time when time is scarce. Analytics on the other hand will support pinning down long-term strategies and evaluating them.

It's difficult to generically recommend which solutions to go for because the decision is highly hotel specific. I'd start by asking some questions: Where do we lose time? Where do we leave revenue on the table? – look for solutions in these areas and build your way up. 

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