Expedia Group CEO Peter Kern believes that 2023 will be the year that we stop predicting a travel recovery and actually start enjoying it. In an interview with Bloomberg, he said further: "Summer 2022 will be the busiest travel season ever." But after two years of little to no demand, many hoteliers have started to look beyond traditional room revenue and warmed up to the opportunity which lies in non-room revenue. With a possible record summer ahead, will the idea of total revenue (and total revenue management) remain a focus for the industry or will we revert back to business as (pre-pandemic) usual? So the question is: Should hotels look to diversify their income streams and when is this the right time to do so? What should hoteliers be looking out for in the process and where is the opportunity?

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Kelly McGuire
Kelly McGuire
Principal Travel & Hospitality, ZS
Simone Puorto
Simone Puorto
Founder | CEO | Futurist
Annemarie Gubanski
Annemarie Gubanski
Founder and CEO at Taktikon Consultancy

During pandemic we have seen an increase in package and leisure sales, especially for the non-central hotels. With travelers willing to spend more money on theirselves many hotels have seen an increase in incremental revenue. We see an increase in requests for Total Revenue Management projects now that restrictions are lifted and demand is returning. So, I think that my reply would be; Yes, hotels should look to diversify their income streams. Especially if they want to keep market share.

Silvia Cantarella
Silvia Cantarella
Revenue Management Expert and founder at Revenue Acrobats
Pablo Torres
Pablo Torres
Hotel Consultant & Trainer
Max Starkov
Max Starkov
Adjunct Professor NYU Tisch Center for Hospitality and Hospitality & Online Travel Tech Consultant
Timothy Wiersma
Timothy Wiersma
Principal | Revenue Generation, LLC.

Total hotel revenue optimization should be on everyone's agenda. What that means for individual hotels is different depending on the type of hotel. Perhaps we should reframe the questions slightly and ask the question: should we be more focused on total profit optimization? This concept naturally takes into account all revenue streams and in particular how can we best optimize profit in each and ensure we attract the right customers that will contribute to greater profit. 

Ira  Vouk
Ira Vouk
Hospitality Technology and Revenue Management consultant
Digna Kolar
Digna Kolar
Director, Industry Consulting at IDeaS
Anders Johansson
Anders Johansson
CEO of Demand Calendar
Niki Van den Broeck
Niki Van den Broeck
Product Manager - Parity Solutions at OTA Insight
Vassilis Syropoulos
Vassilis Syropoulos
CEO and Head of Product - JUYO ANALYTICS
Diego Fernandez Perez De Ponga
Diego Fernandez Perez De Ponga
Corporate Director Revenue Management Palladium Hotel Group
Oleksii Kapichin
Oleksii Kapichin
Revenue Management Expert

This World Panel Viewpoint is sponsored by:

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Pace Revenue
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ROOMDEX

ROOMDEX, Inc.
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