At the 2018 Revenue Strategy Summit, hospitality leaders spoke about the role of revenue management in today’s hotel industry.
1“You have to understand what questions to ask.”
“To truly appreciate a good revenue strategist, you have to understand it. You have to understand what questions to ask. You don’t have to understand how to pull the levers and keystroke, but know the right questions to ask,” said Andrew Jordan , chief marketing officer, Interstate Hotels & Resorts.
2“Revenue management systems have not created demand.”
“[Revenue management systems] have not created demand. They were never expected to. However, they’ve allowed us and the revenue leaders on-property to understand mix in a way they never understood it before,” said Bonnie Amato, chief revenue officer, Fulcrum Hospitality.
3“You have to roll up your sleeves and get involved.”
“In a small brand, for better or worse, you have to sort of roll up your sleeves and get involved in a lot of different disciplines. And I think that breeds more of a culture of mutual understanding of disciplines and working together to really accomplish the goal of getting heads in beds and getting revenue, versus just taking a silo approach,” said Gary Hawkins, vice president of revenue strategy, Sydell Group.