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Why Revenue Management Systems Will Never Replace Human Revenue Managers

2024-05-07T13:02:52+02:00

When the desktop computer came along, it needed human input. It’s no different with an RMS (revenue management system.) Even an AI-enabled RMS can’t think independently (and that’s a good thing!) You’ve probably heard plenty about AI (artificial intelligence) chatbots that learn from biased human language and “deep fakes,” which are the 21st c. version of Photoshop. These are just

Why Revenue Management Systems Will Never Replace Human Revenue Managers2024-05-07T13:02:52+02:00

Revenue Management Consulting; Benefits of Hiring a Consultant

2024-06-07T12:06:24+02:00

It is becoming increasingly common for hotel owners and others in the hospitality industry to acquire revenue management consulting services to optimize prices, distribution, and occupancy rates and maximize financial results. These services will often be acquired from a revenue management consulting firm. In this article, you will learn about the benefits of enlisting a revenue management consultant for your

Revenue Management Consulting; Benefits of Hiring a Consultant2024-06-07T12:06:24+02:00

Outsourcing Revenue Management: 4 Ways it Benefits Hotels

2024-06-05T14:12:10+02:00

Revenue management is extremely important within the hotel industry because it allows owners to optimize how they do business, to improve financial results. However, it also requires specific skills and knowledge, which means that it can be more effective to outsource revenue management to a third party that specializes in this area. In this article, you will learn more about

Outsourcing Revenue Management: 4 Ways it Benefits Hotels2024-06-05T14:12:10+02:00

Onboarding for Different Revenue Management Team Levels

2024-09-26T13:07:45+02:00

Question for Our Revenue Management Expert Panel: How Does the Onboarding Process of Revenue Management Teams Differ According to Level? Which Topics Should Be Emphasized for Each Level? (Question by Daniel Feitosa) Our Revenue Management Expert Panel Heiko Rieder - Vice President Business Development, Hirmer Hospitality and Travel Charme Hotels Alenka McMahon -

Onboarding for Different Revenue Management Team Levels2024-09-26T13:07:45+02:00

5 Common Challenges for Cluster Revenue Managers and How to Master Them

2023-12-06T12:07:40+01:00

The idea of clustering revenue management positions has become more customary recently. When it’s done well, it lets you reduce costs, boost efficiency, and increase revenue. But clustering isn’t always easy. Time constraints and the ability to access reliable, real-time data can make it difficult. 5 Common Challenges for Cluster Revenue Managers If you create a cluster of three hotels,

5 Common Challenges for Cluster Revenue Managers and How to Master Them2023-12-06T12:07:40+01:00

Top Tips for Attracting Talent in Revenue Management Recruitment

2023-12-06T12:50:19+01:00

Question for Our Revenue Management Expert Panel: Attracting talent in the hospitality industry remains a challenging task. What are your top tips for successful recruitment in revenue management teams? What approaches do you find the most useful?  Our Revenue Management Expert Panel Tanya Hadwick - Group Revenue & Yield Leader, SunSwept Resorts

Top Tips for Attracting Talent in Revenue Management Recruitment2023-12-06T12:50:19+01:00

What is the Role of Human Judgement in Revenue Management Decisions?

2023-12-06T12:58:47+01:00

Question for Our Revenue Management Expert Panel: With so much technology available, how does human judgement factor into making revenue management decisions? Should the RMS ever be overruled by human judgement? (Question by Fabian Bartnick) Our Revenue Management Expert Panel Fabian Bartnick - Founder, Infinito Dr. Betsy Stringam-Bender - Professor of Hotels &

What is the Role of Human Judgement in Revenue Management Decisions?2023-12-06T12:58:47+01:00

How to Combine Human and AI Collaboration for the Best Hotel Results

2023-12-06T13:32:46+01:00

The advancement of AI and automation over the past few years has transformed the hospitality industry. New technology enabled gathering and evaluating vast amounts of data, quickly making informed decisions, and lifting the topline. Especially in the revenue management department, new AI-powered solutions offer the real-time market insights hoteliers need to optimize, adjust and even automate their pricing. One concern

How to Combine Human and AI Collaboration for the Best Hotel Results2023-12-06T13:32:46+01:00

What are the Pros and Cons of Outsourcing Hotel Revenue Management?

2023-12-06T13:59:16+01:00

Question for Our Revenue Management Expert Panel:  What are the advantages and disadvantages to outsourcing revenue management? Is there a difference depending on hotel / property type? Our Revenue Management Expert Panel Diego Fernández Pérez De Ponga - Director of Revenue Management, Palladium Hotel Group Dermot Hrlihy - Owner, Dynamic Hospitality Consulting Ricardo

What are the Pros and Cons of Outsourcing Hotel Revenue Management?2023-12-06T13:59:16+01:00

How can Revenue Managers Collaborate on Decisions?

2023-12-06T14:59:51+01:00

Question for Our Revenue Management Expert Panel: Are Revenue Managers overloaded with strategy and result decisions? How can Revenue Managers collaborate and share responsibilities with other teams? (Question proposed by Daniel Feitosa)  Our Revenue Management Expert Panel Daniel Feitosa - Revenue Management Specialist Sandra Gannon - Commercial Consultant, Revenue Puzzle Patrick Wimble -

How can Revenue Managers Collaborate on Decisions?2023-12-06T14:59:51+01:00

Role of a Revenue Manager is Shifting Thanks to Automation

2023-12-06T15:09:26+01:00

Like much of our world today, the hospitality industry is constantly changing and evolving beyond what revenue managers and leaders of the past could have imagined. During unprecedented change, automation and new technology have become essential to successfully navigating the post-COVID hospitality landscape. Revenue Managers Becoming Strategists But with any change, comes reservation and distrust. As the industry continues to

Role of a Revenue Manager is Shifting Thanks to Automation2023-12-06T15:09:26+01:00

Staffing Considerations for a Revenue Team

2023-12-06T15:18:47+01:00

There is a recognized need for proactive revenue strategy and technology investment for many hotels. However, once the new technologies are integrated, there remains an open question: who’s going to keep this operation running smoothly and profitably as opening day approaches and beyond? Factors to Help You Identify the Best Staff Below you find some factors that will help you

Staffing Considerations for a Revenue Team2023-12-06T15:18:47+01:00

How Can Revenue Management Ensure Collaboration Amongst Hotel Teams?

2023-12-06T15:52:48+01:00

Question for Our Revenue Management Expert Panel: Successful Total Revenue Management strategies rely on great communication between all hotel departments. What tips can you offer to Revenue Management teams to help ensure a collaborative effort? Our Revenue Management Expert Panel Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins - Founder, Revenue Resolutions

How Can Revenue Management Ensure Collaboration Amongst Hotel Teams?2023-12-06T15:52:48+01:00

How Can Revenue Management Collaborate with Sales & Marketing Teams?

2023-12-06T16:02:27+01:00

Question for Our Revenue Management Expert Panel: For best collaboration, should Revenue Management fall under Sales & Marketing – or vice versa? Should they be separate departments on the same level of the hotel hierarchy? Or one single department? Our Revenue Management Expert Panel Chaya Kowal - Director of Revenue Management, Potato Head

How Can Revenue Management Collaborate with Sales & Marketing Teams?2023-12-06T16:02:27+01:00

What skills should hotels look for when recruiting Revenue Managers?

2023-12-06T16:19:07+01:00

Question for Our Revenue Management Expert Panel: What top skills and characteristics should hotels look for when recruiting in Revenue Management leadership? Our Revenue Management Expert Panel Paulo Aragao - Revenue Management Professional Chaya Kowal - Director of Revenue Management, Potato Head Family Patrick Wimble - Managing Director, Lightbulb Consulting Theresa Prins -

What skills should hotels look for when recruiting Revenue Managers?2023-12-06T16:19:07+01:00

Revenue Manager Job Description: What to Look For?

2024-06-01T19:37:47+02:00

Before embarking on a career in revenue management, reading a comprehensive revenue manager job description can be useful. After all, it is a position with many different responsibilities connected to it, and it is also important to get a sense of the required skills, qualities, and qualifications. In this article, you will find a description of what revenue management entails

Revenue Manager Job Description: What to Look For?2024-06-01T19:37:47+02:00

Revenue Manager: Tasks, Skills, Education, Salary, Courses and More…

2023-12-21T14:40:51+01:00

The role of a revenue manager is one of the most important within hotels and similar organizations, assisting the business by optimizing financial performance. However, many people remain unclear about exactly what a revenue manager is, what tasks are connected to the job, the level of education required, and the salary. In this article, you can learn more about these

Revenue Manager: Tasks, Skills, Education, Salary, Courses and More…2023-12-21T14:40:51+01:00

5 Reasons You Can Benefit From a Freelancer Revenue Manager

2024-06-04T21:05:48+02:00

Revenue management in the hotel industry involves optimizing the price and availability of rooms and services based on analytics that predict consumer behavior to maximize revenue. It can be an extremely effective discipline, but specialist knowledge is required to make the most of it. For this reason, many hotel managers opt to use the skills and services of freelance revenue

5 Reasons You Can Benefit From a Freelancer Revenue Manager2024-06-04T21:05:48+02:00
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