All posts in Revenue Management

Hotel Revenue Managers’ Playbook: 10 Steps to Requesting a Well-Deserved Pay Increase

Categories: Revenue Management
Comments Off on Hotel Revenue Managers’ Playbook: 10 Steps to Requesting a Well-Deserved Pay Increase

In the world of hotel revenue management, the art of salary negotiation can often become a crucial rung in the ladder of career progression and financial prosperity. However, the prospect of asking for a pay raise can seem intimidating, especially when one is uncertain about the strategy for initiating such a discussion or demonstrating one’s invaluable contribution to the hotel. If you aim to achieve a salary increase, secure a promotion, gain more flexibility, or attain any other changes that Read more

10 Skills That Hotel Revenue Managers Have That Go Beyond the Hotel Industry

Categories: Revenue Management
Comments Off on 10 Skills That Hotel Revenue Managers Have That Go Beyond the Hotel Industry

In today’s unpredictable world, it’s more important than ever to have a versatile set of skills that can be applied across different industries and job roles. With the recurring economic shocks, it’s crucial to be prepared for the unexpected and to have options for career advancement and growth. As a Hotel Revenue Manager, you possess a “particular” set of skills and expertise that can be applied to a variety of industries and roles beyond the hotel industry. By constructing your Read more

The Art of Disagreeing: A Guide for Hotel Revenue Managers

Categories: Revenue Management
Comments Off on The Art of Disagreeing: A Guide for Hotel Revenue Managers

As a hotel revenue manager, you may often find yourself in situations where you disagree with colleagues or stakeholders, especially during Revenue Management meetings. Disagreements can be uncomfortable and even contentious at times. By respectfully expressing different perspectives and considering alternative solutions, Hotel Revenue Managers can play a key role in helping identify areas of improvement that can drive profit growth. Therefore, it’s important to remember that disagreements can be healthy and can lead to better outcomes for the hotel. Read more

10 Reasons Why Hotel Revenue Managers Are Sharpening their Math Skills

Categories: Revenue Management
Comments Off on 10 Reasons Why Hotel Revenue Managers Are Sharpening their Math Skills

In today’s ever-evolving hospitality industry, the significance of revenue optimization as a fundamental aspect of hotel management cannot be understated. Revenue Managers occupy a pivotal position in formulating and executing pricing strategies that not only enhance revenue potential but also prioritize customer satisfaction. Although Revenue Management Systems (RMS) have simplified this process, possessing a comprehensive understanding of the mathematical principles underlying revenue optimization remains paramount. Here are ten compelling reasons elucidating the importance of revenue managers acquiring proficiency in the Read more

10 Biases that Afflict Hotel Revenue Managers

Categories: Revenue Management
Comments Off on 10 Biases that Afflict Hotel Revenue Managers

Elon Musk recently took to Twitter to declare that cognitive biases “should be taught to all at a young age.”  He referenced an infographic that listed the 50 most common biases. These biases affect us most in the decisions that we make on a daily basis. It, therefore, follows that these biases play a major role in Hotel Pricing and Revenue Management. In the absence of collaborative data analysis, decisions made under uncertainty become highly subjective activities. The most relevant Read more