I’ve sat in hundreds, maybe thousands, of Revenue Management meetings. The setting is often the same: a promotion is launched to stimulate demand during a slow period, and a few days or weeks later, a pickup report is pulled. Someone reads off the number of rooms booked or the revenue generated, and the room collectively decides whether the tactic “worked.” Sometimes the verdict is positive and the promotion becomes a recurring tactic. Sometimes it’s dismissed and shelved. But in most Read more
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7 Hotel RM Metrics You Probably Have Not Checked In A While — But Should
Categories: Analytics, Comp Set Anaysis, Data, Forecast, Hotel Analytics, Hotel Revenue Discovery, Pricing, Revenue Management
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Most Revenue Management strategies don’t fail because of bad math. They fail because of good math applied to old assumptions. Metrics that once held steady — like booking window, LOS, cancellation rates — start to drift quietly, and nobody notices. The RMS keeps outputting forecasts, the meetings keep rolling, and the team keeps working the plan. Until one day, you're behind pace, pricing erratically, and wondering why the model no longer fits reality. But the model didn’t break — the Read more
Hotel Revenue Managers’ Playbook: 10 Steps to Requesting a Well-Deserved Pay Increase
Categories: Revenue Management
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In the world of hotel revenue management, the art of salary negotiation can often become a crucial rung in the ladder of career progression and financial prosperity. However, the prospect of asking for a pay raise can seem intimidating, especially when one is uncertain about the strategy for initiating such a discussion or demonstrating one’s invaluable contribution to the hotel. If you aim to achieve a salary increase, secure a promotion, gain more flexibility, or attain any other changes that Read more
10 Skills That Hotel Revenue Managers Have That Go Beyond the Hotel Industry
Categories: Revenue Management
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In today’s unpredictable world, it’s more important than ever to have a versatile set of skills that can be applied across different industries and job roles. With the recurring economic shocks, it’s crucial to be prepared for the unexpected and to have options for career advancement and growth. As a Hotel Revenue Manager, you possess a “particular” set of skills and expertise that can be applied to a variety of industries and roles beyond the hotel industry. By constructing your Read more
The Art of Disagreeing: A Guide for Hotel Revenue Managers
Categories: Revenue Management
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As a hotel revenue manager, you may often find yourself in situations where you disagree with colleagues or stakeholders, especially during Revenue Management meetings. Disagreements can be uncomfortable and even contentious at times. By respectfully expressing different perspectives and considering alternative solutions, Hotel Revenue Managers can play a key role in helping identify areas of improvement that can drive profit growth. Therefore, it’s important to remember that disagreements can be healthy and can lead to better outcomes for the hotel. Read more