Today's Revenue Management thought:-

Predictive analysis is vital in contemporary hotel pricing strategies, enabling properties to adjust to market changes and enhance revenue. Efficiency is achieved through Revenue Management Systems processing vast datasets. This week, I delve into the challenges of achieving efficiency with manual models.

The limitations of manual models underscore the necessity of adopting automated predictive analytics tools for efficient and accurate forecasting.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Predictive analysis is vital in contemporary hotel pricing strategies, enabling properties to adjust to market changes and enhance revenue. Efficiency is achieved through Revenue Management Systems processing vast datasets. This week, I delve into the challenges of achieving efficiency with manual models.

Manual methods are prone to errors and inconsistencies, leading to unreliable results and decision-making.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Predictive analysis is vital in contemporary hotel pricing strategies, enabling properties to adjust to market changes and enhance revenue. Efficiency is achieved through Revenue Management Systems processing vast datasets. This week, I delve into the challenges of achieving efficiency with manual models.

Manual methods require extensive time and resources for data collection, processing, and analysis, hindering scalability and accuracy.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Predictive analysis is vital in contemporary hotel pricing strategies, enabling properties to adjust to market changes and enhance revenue. Efficiency is achieved through Revenue Management Systems processing vast datasets. This week, I delve into the challenges of achieving efficiency with manual models.

Conducting predictive analysis manually is inefficient and error-prone due to the lack of computational power and algorithmic sophistication.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

It’s Friday - time to contemplate.

Don't blame it all on 'price sensitivity' - it's like blaming bad hair days on gravity!

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Don't Use 'Price Sensitivity' as an Excuse ! Here’s why…..

Economic considerations, value perception, and the rise of alternative accommodations further complicate the dynamics of price sensitivity in the hospitality industry.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Don't Use 'Price Sensitivity' as an Excuse ! Here’s why…..

Hotel stays are complementary goods, influenced by factors beyond just room rates, challenging the traditional understanding of price sensitivity.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Don't Use 'Price Sensitivity' as an Excuse ! Here’s why…..

The focus solely on price adjustments neglects the broader context of travel decisions including total trip costs and destination competition.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

Don't Use 'Price Sensitivity' as an Excuse ! Here’s why…..

Price sensitivity in hotels is often oversimplified and can be misleading, leading to ineffective strategies.

Have a profitable week !

✌🏼

Today's Revenue Management thought:-

It’s Friday - time to contemplate.

Dynamic pricing, the hospitality world's quick-change artist, switches shades faster than a chameleon on a disco floor!

Bonus info - Confusopoly - a group of companies with similar products who intentionally confuse customers instead of competing on price. The term was invented by Scott Adams in his comic strip Dilbert.

Have a profitable week.

✌🏼