hotel revenue manager
The Power of Persistence: A Revenue Manager’s Lesson From Milan
Fabian Bartnick | August 28, 2024
By Fabian Bartnick A skill every revenue manager needs! I forgot about it. Now it's back :-) It all began during our journey to Milan last week. My family and I were listening to the Million Dollar Weekend podcast, which featured a discussion about the power of follow-up and how every “no” can breed countless opportunities for sales. Downside none, upside unlimited. It was an insightful session, but it wasn’t until later that evening, when we took the tram home from seeing the city, that the lesson truly hit home. The Persistent Power of a Nine-Year-Old After we arrived in Milan and settled in, went for dinner and took the tr...
Will AI Replace Hotel Revenue Managers? Answering the Million Dollar Question
Andrew Rubinacci | April 17, 2024
By Andrew Rubinacci, Chief Advisory Officer of FLYR for Hospitality Never in human history have we had access to as much data as we do today. In recent years, the tools and strategies we use to process and understand insights derived from this data have become one of the hottest commodities – and with good reason. Organizations are able to harness the power of data to gain a deeper understanding of their operations, customer behaviors, and market trends, unlocking competitive advantages. Data-driven decision-making is the new normal. And while the hospitality industry has always used data in its revenue management strategies, AI can...
Hotel Revenue Management Expert Launches Consulting Firm
May 28, 2019
San Francisco, CA – With hotels in the U.S. and globally preforming at record-breaking rates (STR, 2018), a new service is available to help underperforming properties get their part of the pie. Rob Sudakow, an expert in revenue management across the hotel spectrum, has launched RevUp Consulting to help distressed hotels build stronger bottom lines. RevUp offers a complete system, including revenue management, budget forecasting, competitor evaluation, e-commerce, and distribution. Clients can choose to have a virtual hotel revenue manager specifically for their property. With this service, clients receive hands-on support that is...
Perception Is Reality: Pricing Psychology for Hotel Revenue Managers
the Author | April 9, 2019
By Dan Skodol, Vice President of Revenue Analytics, The Rainmaker Group "All our knowledge has its origin in our perceptions." ~ Leonardo da Vinci Is a pair of $50,000 Sennheiser Orpheus headphones really fifty times better than a pair that costs $1,000? Expensive items and experiences are often branded as high quality, exclusive, or bespoke. But are they really better than their less-expensive counterparts? And what truly motivates people to pay more for something? In the hectic daily life of a hotel revenue strategist, coming up with optimal pricing presents the greatest challenge – a challenge that's typically handled through r...
Don’t Forget the Forgetting Curve! Using Neuroscience to Create Re-memorable Training for Revenue Managers (and others!)
the Authors | December 4, 2017
by W. Todd Maddox, Ph.D., David Hayes, Ph.D., Joshua Hayes, MA Hoteliers know the demand for well-trained revenue managers (RMs) has exploded in recent years. All hotels need a qualified individual whose responsibilities include addressing the property's unique approach to optimizing profitability by recognizing, forecasting, and shaping their customers' buying patterns. The best training programs for RMs address key content in the areas of customer psychology, accounting, sales, marketing, and rooms management, among others. And yet, every hotel GM could likely relate to the following "it really happened" case study; widely used today ...
