All posts in Data

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
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

14
Mar

The 5 Cs of Building a Data-Driven Hotel Company

Categories: Analytics, Big Data, Budget, Data, General Management, Hotel Analytics, Revenue Management
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by Robert Hernandez

It is hard to argue with the claim that Analytics is the hottest buzzword in the hotel business today. More specifically, the impact of Big Data is now a global topic of conversation in industry, government, and education. In the hospitality industry, every function from RM to Marketing to F&B is becoming more data driven. Unfortunately, behind every technology bandwagon there are a plethora of unproven software startups cashing in on the unceasing pressure placed on managers to find a Read more

14
Nov

12 Meta Marks You Should Add to All Hotel Reports

Categories: Data, Revenue Management
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by Robert Hernandez

In the post 7½ Habits of Highly Effective Hotel Revenue Managers I noted that the best RMs “think like a librarian.”  At the core of that habit is the proper labeling and storage of reports and analysis. Yet, with all the emphasis on governance and PCI, I find that most hotels, of every size, do not mark their reports with any meta information. Below are 12 meta marks that I add to all my work product that has saved me time, Read more

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