All posts in Analytics

14
May

How to Go from Revenue Manager to Revenue Science

Categories: Analytics, Big Data, Direct Booking, Revenue Management
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by Robert Hernandez

Almost two decades after the big expansion of Revenue Management throughout the hotel industry, Directors of Revenue Management still make 20% less than Directors of Finance and Accounting (payscale.com) . That may seem unfair because RMs have as much, or maybe more, fiduciary responsibility to the bottom line of a hotel company as their counterparts in finance. Not only that, but RMs have to deal with more systems and more data than finance ever will. However, there is good reason Read more

14
Nov

8 Ways the Best Revenue Managers Have Re-Defined their Job

Categories: Analytics, Budget, Data, Forecast, Guest Analytics, Hotel Analytics, OTA, Revenue Management, Strategic Planning, Total Revenue Management
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by Robert Hernandez

The 25,000 or so Hotel Revenue Managers around the world are self-dividing into two distinct categories: those that are well prepared(or preparing) for 2024 and those that are well prepared for 2004. Fourteen years ago, the global lodging industry returned to positive profit growth after three years of declining revenues. Hotels began their four year ride(2004-2008) to historic levels of revenue and profit. In 2004 TripAdvisor, HomeAway and dozens of OTAs launched to capture the new opportunities in travel that Read more

15
Sep

7½ Habits of Highly Effective Hotel Revenue Managers

Categories: Analytics, Data, Revenue Management
Comments: 1
by Robert Hernandez

As a consultant for Hotel Revenue Science I’ve had the opportunity to work with many Revenue Managers. I have interacted with RMs working in large brands, franchises and independents.  My job has always been to bring them up to a sophisticated level of technical competence so that they have more confidence in decision making.  I can attest that most Revenue Managers that I have met are eager to be better at their jobs and, in many cases, they are one Read more

14
Aug

Add This Power Metric to Your Pace Report Today

Categories: Analytics, Hotel Analytics
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by Robert Hernandez

Sometimes the simplest math can deliver the most powerful analytics. In my experience this is, by far, the metric that captures the most attention on a Pace Report. When analyzing variances for revenue performance, there is one powerful metric that is easy to calculate and so easy to explain and everyone will be impressed when you use it. The Variance Analysis Components metric will let you show what portion of a variance in revenue is attributed to changes in occupancy Read more

14
Jul

Revenue Managers have taken the Five Ps away from Marketers

Categories: Analytics, Data, Forecast, Guest Analytics, Hotel Analytics, Marketing, Pricing, Revenue Management, Spa, Total Revenue Management
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by Robert Hernandez

For years, we’ve all been reading about the need to coordinate the activities of Revenue Management and Marketing into one synergistic Revenue Generation process. In practice what is really happening in many hotel companies is that the activities of both departments are not merging, but they are instead becoming the domain of Revenue Management. That RM is “taking” away many of Marketing’s traditional roles makes sense. As marketing has become more digital, it has inevitably become more data driven, and in most Read more

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