Revenue strategy is more than rooms revenue, rates, and RevPAR
How an influx of readily available data is leading to modern approaches to revenue strategy
At the Revenue Optimization Conference, held as part of HSMAI’s Commercial Strategy Week in conjunction with HITEC, the vibe focused on how an influx of readily available data is leading to modern approaches to revenue strategy.
Key takeaways
- One of the biggest challenges to modernizing your commercial strategy is getting all the key stakeholders - management, ownership, asset management - aligned;
- Someone that is great at Excel does not always make a great revenue strategist - they need to be able to look beyond the traditional revenue streams, understand what data is needed across the organization, from digital to revenue to sales, and understand how all those functions operate together to drive revenue.
- The constant focus on performing to a budget that was set months ago should shift to outperforming the market in its current state.
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