How to Create and Implement Proactive Revenue Management Workflows

Posted by Marios Prokopiou on Tue, Oct 08, 2019

Airline executives know that a more successful revenue management department starts with strategies that incorporate market and owned data and pinpoint revenue opportunities. These strategies drive coordinated decision making among revenue management, sales and network planning departments. But most importantly, they help revenue management analysts be more proactive. RM analysts who spend most of their day proactively identifying revenue opportunities constantly outperform. Thus, creating and implementing revenue management strategies that drive proactive workflows ought to be an important part of every revenue management team’s agenda.


>
Read More

Four Ways to Keep Your Revenue Management Team on Track

Posted by Marios Prokopiou on Mon, Sep 09, 2019

Last year, I wrote about why hiring analytics geeks is crucial to building a successful revenue management team, making the case that analytical firepower would help airlines and hospitality organizations be better equipped to handle challenges created by predictive analytics and data optimization. The ideal revenue management team would actually include a mix of geeks (science, engineering and economics grads who are capable of running in-depth analyses, and visualizing and solving complex problems) and veterans, who have valuable industry experience. Providing mentorship programs so these people can advance to leadership positions is also crucial to your team’s success.


>
Read More

How the Right Technology Can Increase Tour Bookings

Posted by John Balamuta on Mon, Apr 22, 2019

This is the fourth in a four-part series on how the hospitality industry can capitalize on the growing tours and experiences marketplace.

As more travelers seek one-of-a-kind vacation experiences, they’re often looking to seamlessly book these experiences and tours along with their accommodations or flights. Targeting these travelers with the right offers at the right time requires the right technology.


>
Read More

To Develop a Personalization Capability, Think Modular

Posted by Arun Shastri on Mon, Apr 15, 2019

Abhishek Rathi co-wrote this blog with Arun Shastri.

This is the third in a four-part series on how the hospitality industry can capitalize on the growing tours and experiences marketplace.

As more travelers seek to book experiences and tours, hotels need to find ways to gain a competitive advantage to avoid losing their fair share of customers to aggregators. As spending on experiences and tours is discretionary and many options exist, personalization is critical to staying competitive.


>
Read More

What Will the Future Hotel Exec Need to Succeed?

Posted by Marios Prokopiou on Mon, Nov 26, 2018

Earlier this year, I made the case that hotels should add firepower to their revenue management staffs by hiring more analytics geeks. While revenue management teams have hotel industry experience, many lack the data skills necessary to make more scientific decisions, thereby potentially missing revenue opportunities. In a recent Skift article, the author has a similar line of thinking: He writes that the hospitality industry should hire employees with no previous industry experience—people with finance, business or communications agency backgrounds who can use those skills to improve hotels’ overall customer service strategies.


>
Read More