It’s no secret that hotel operating costs are on the rise, in many cases at an even higher clip than revenue. Hoteliers are pointing to inflated digital marketing costs, and with the emergence of new distribution channels like Google, TripAdvisor and Facebook, the cost of acquiring guests is higher than ever before.
An argument could be made that the hotel industry was late to the revenue management game. While airlines were early to develop dynamic pricing strategies, it wasn’t until much later that hotels began changing rates beyond seasonally.
The position of Director of Revenue Strategy is like no other in the hospitality industry. The range of expertise, talents and experience required to successfully guide a hotel to maximum revenue generation and profitability cuts across the spectrum of hotel disciplines and departments.
February 16, 2016 — Duetto, the market leader in hotel and casino profit optimization technology, announced that Pearl River Resort has selected its GameChanger Revenue Strategy Solution to bring new price optimization capabilities to the 1,220 room integrated resort in Choctaw, Mississippi.
Most hotels wait until the Fall months to do a full assessment of their business expectations for the next year and then allocate revenue and expense goals based on those expectations. A revenue manager’s role is often to prepare an accurate forecast—a framework for the hotel budget from which spending decisions can be based.