The piece explores many of the new trends shaping the hotel industry as well as many of the pain points experienced by revenue managers, including how concerns seem to have shifted from competing with OTAs and driving top-line revenue to improving processes, gaining clearer visibility into future demand opportunities and making data- and profit-driven decisions.
It goes on to showcase how innovative technology can help revenue managers abandon the complicated, repetitive and time-consuming tasks that can easily be automated so that they can "manage by exception," or focus less on pulling pricing levers and more on building strategies to capitalize on their most compressed days.
"If the only way you are adding value as a revenue manager is through pricing strategy, you'll be obsolete in five years," says Mike Medsker, co-founder of Focal Revenue Solutions. "The robots are coming, and they are pretty good at crunching numbers and updating prices."
New technology can now alert revenue teams to demand spikes and react with real-time rate recommendations by room type, segment, channel, and more. The key is making sure the right data is powering the right systems.
Learn more by downloading Duetto's full whitepaper, Revenue Made Simple.
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Duetto delivers a suite of cloud applications to simplify hospitality revenue decisions and allow hoteliers to work smarter, increasing organizational efficiency, revenue, and profitability. The unique combination of hospitality experience and technology leadership drives Duetto to look for innovative solutions to industry challenges. The software as a service platform allows hotels and casino resorts to leverage real-time dynamic data sources and actionable insights into pricing and demand across the enterprise. More than 3,500 hotel and casino resort properties in more than 60 countries have partnered to use Duetto's applications: GameChanger for pricing, ScoreBoard for intelligent reporting and BlockBuster for contracted-business optimization. Duetto is backed by investors Warburg Pincus, Icon Ventures, Accel Partners, Battery Ventures and Spectrum 28. For more information, please visit https://www.duettocloud.com.