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Published on : Tuesday, November 8, 2016
The Hospitality Sales & Marketing Association International (HSMAI) announces the release of Portrait of Revenue Management Leadership. The report examines the results of a recent survey of hotel management executives on their current work, the challenges facing the discipline, and the evolving skills and duties of senior revenue management professionals.
A total of 139 hotel management executives from brands and ownership groups and management companies were surveyed. The responses to the survey indicate that in response to a market in which consumers have more control than ever before—largely due to technology—predictive analytics and data-driven strategy are becoming increasingly critical to successful revenue management and the hotel business in general.
The report sheds light on other noteworthy trends indicated in the survey findings:
HSMAI’s Portrait of Revenue Management Leadership provides a comprehensive look at the current state of the revenue management profession and the opportunities for growth and increased profitability. In addition, the report offers in-depth insights for hotel business executives to succeed in a future that favors—if not requires—data-driven strategy.
“The report’s findings are a striking reminder—if not a wake-up call—to professionals in the hotel business: To be truly successful in this increasingly competitive industry, the strategic application of data and analytics throughout the revenue management process is paramount,” said Robert A. Gilbert, CHME, CHBA, president & CEO of HSMAI.
The research and resulting report were made possible through the sponsorship of the 2016 Chief Revenue Officer Roundtables by Booking.com, Ideas – a SAS company, NOR1, Rainmaker, STR, and Tambourine.