Duetto has published a whitepaper showcasing research gathered through surveys and interviews with nearly 100 revenue managers from across the globe.
The piece explores many of the new trends shaping the hotel industry as well as many of the pain points experienced by revenue managers, including how concerns seem to have shifted from competing with online travel agents and driving top-line revenue to improving processes, gaining clearer visibility into future demand opportunities and making data- and profit-driven decisions.
It showcases how innovative technology can help revenue managers abandon the complicated, repetitive and time-consuming tasks that can easily be automated so that they can “manage by exception,” or focus less on pulling pricing levers and more on building strategies to capitalize on their most compressed days.
“If the only way you are adding value as a revenue manager is through pricing strategy, you'll be obsolete in five years,” Mike Medsker, co-founder of Focal Revenue Solutions, said in a statement. “The robots are coming, and they are pretty good at crunching numbers and updating prices.”
New technology can alert revenue teams to demand spikes and react with real-time rate recommendations by room type, segment, channel and more. The key is making sure the right data is powering the right systems.