Archive for February, 2022

14
Feb

In Revenue Management, Never Being Right is Better than Sometimes Being Right

Categories: Analytics, Data, Revenue Management, Strategic Planning
Comments Off on In Revenue Management, Never Being Right is Better than Sometimes Being Right
by Robert Hernandez

One of the most difficult concepts to explain in Mathematical Rate Setting is that the optimal rate is the one that has the best chance of maximizing revenue over the long term, not necessarily in the short term.  In other words, it is the rate that has the best chance of delivering the optimal revenue if the same rate decision where repeated many times.  That does not mean that it is the best rate for any one time that you make Read more

14
Feb

How to Become a 5-Tool Hotel Revenue Manager

Categories: Analytics, Hotel Analytics, Revenue Management
Comments Off on How to Become a 5-Tool Hotel Revenue Manager
by Robert Hernandez

In baseball, a 5-Tool player is one that excels at the skills of throwing, catching, running, hitting for power, and hitting for average. While they are rare, these players are considered the top athletes in the game and therefore command the highest salaries.  In Revenue Management the same is true for the most aggressively recruited and highest paid RMs.  They are the ones that have the perfect combination of skills which allow them to take any hotel company’s RM function Read more

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