In the early stages of Revenue Management, cranking up rates when the hotel was on a clear path to selling out was about all it took to be a successful Revenue Manager. But as digital transformation has taken hold in hotels, the role, and the definition of success, have evolved greatly.

Once the gold standard, technical knowledge and decent Excel skills are now table stakes. Today's successful Revenue Manager must focus far beyond forecasting and setting prices. A mastery of the constantly evolving distribution technology landscape, including a keen understanding of every step of the digital customer journey is essential to optimizing market share and total hotel profitability.

Today's customer experience begins way before the guest steps foot on property. The ease of finding information before booking, transparency and fairness in pricing, and the effective collection and dissemination of every customer's specific needs form the foundation of a successful hotel stay. And the proliferation of user generated content and review sites practically ensures that if today's guest has trouble booking your hotel, tomorrow's guest will not even try. The past practice of opportunistic pricing now often results in one step forward… then two steps back.

So, we asked our experts: What strategies and tactics are successful hotels employing to strike this delicate and crucial balance between maximizing revenue and contributing to a positive guest experience? How are Revenue Managers evolving from "number geeks" to having a key role in delivering great customer service?

IDeaS - A SAS Company

This World Panel Viewpoint is sponsored by IDeaS a SAS company
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Klaus  Kohlmayr
Klaus Kohlmayr
Chief Evangelist at IDeaS Revenue Solutions
Max Starkov
Max Starkov
Adjunct Professor NYU Tisch Center for Hospitality and Hospitality & Online Travel Tech Consultant
Raul Moronta
Raul Moronta
CRME, CHIA, Chief Commercial Officer at Remington Hotels
Ira  Vouk
Ira Vouk
Hospitality Technology and Revenue Management consultant
Pablo Torres
Pablo Torres
Hotel Consultant & Trainer
Oleksii Kapichin
Oleksii Kapichin
Revenue Management Expert
Anders Johansson
Anders Johansson
CEO of Demand Calendar
IDeaS - A SAS Company

This World Panel Viewpoint is sponsored by IDeaS a SAS company
More information