The Future of Hotel Revenue Management
Kimes, Sheryl E.
What insight do professional revenue management (RM) have about the future? A survey of 487 professionals found the future was going to be much more strategic in nature and will be more strongly driven by technology in which function space will be the new frontier. As technology evolves analytical pricing models and social networking/mobile technology are going to have a major impact on the future. Survey respondents think that the organization of the RM function is going to become more centralized, and that the skills required for a successful revenue manager are going to be a combination of analytical and communication abilities. As a consequence, performance measurement will move to total revenue or gross operating profit rather than by Revenue per available room.
revenue management; pricing; future; technology; performance
Required Publisher Statement: © Palgrave Macmillan. Final version published as: Kimes, S. E. (2011). The effect of brand class on perceived fairness of revenue management. Journal of Revenue and Pricing Management, 10(1), 62-72. Reprinted with permission. All rights reserved.