Relearning how to manage hotel revenue
Let’s stop referring to 2019. This is 2023; let’s move forward to recognize these changes and reorganize how we think and how we work
Every day, we are unlearning what it means to manage revenue in a hotel or revenue management business. Profit optimization will become critical in understanding your revenue streams, cost factors, channel costs and profit margins.
Key takeaways
- Internalize the processes that you want to change and live in the new reality;
- Then reinforce the new learning. If you are not reinforcing it, you won’t see the results of unlearning, and are not going to instill a new way of working and a new way of thinking within your organization;
- The hotels of the future are going to be the ones that know how to leverage the millions and millions of datapoints that are being collected, incorporate that into their decision-making and automate the decisions as they market, distribute, price and sell.
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