Friday’s webcast on “Preparing for the Recovery”from Cornell Center for Hospitality Research and SAS was somewhat of a wake-up call for me. It made me realize that our industry, hospitality and gaming, will not just magically sail into the recovery. (OK, to be fair, I certainly suspected this, but I
Tag: revenue management
Top 5 takeaways from "Preparing for the Recovery"
Revenue management's next frontier? Rate rationalization.
Hotels and airlines have traditionally optimized revenues by forecasting demand against a pre-set rate structure, and offering rates (or opening and closing fare classes) based on predicted demand levels. While inventory allocation, along with overbooking and length of stay controls, has resulted in revenue increases, executives have not always stopped
Innovations in revenue management
Over the last few years, I have watched revenue management change from a competitive advantage to a must have for the gaming and hospitality industry, and I’ve seen an increase in the sophistication with which hotels and casinos approach the problem of pricing and distributing their perishable inventory. While not