Research: Best Practices for Hotel Revenue Management Revealed In New Smart Decision Guide

Now in its fifth edition, this title is widely considered to be the hotel industry’s most authoritative and comprehensive resource on this topic.

Starfleet Research, the leading provider of best practices IT market research for the hospitality industry, has released its long-anticipated 2019 Smart Decision Guide to Hospitality Revenue Management.

Now in its fifth edition, this title is widely considered to be the hotel industry’s most authoritative and comprehensive resource on this topic. The new edition is now available for complimentary access.

Previous editions of this popular Smart Decision Guide have been downloaded thousands of times by senior hotel executives, general managers, revenue managers, IT directors and other decision makers seeking to upgrade their revenue management capabilities, helping them implement and maximize the value of next-generation revenue management platform capabilities and strategies. In fact, 94% of hotel executives rated last year’s edition as “valuable” or “very valuable.”

The 2019 edition is completely revised, updated and expanded to highlight emerging trends, including an increased focus on the role of artificial intelligence and machine learning in automating pricing decisions, and the latest breakthroughs in technology innovation and data integration. It offers a clear roadmap for achieving success with next-generation strategies and technologies as well as practical advice for implementing the right organizational resources, business processes and performance metrics to drive continuous improvement in RevPAR and other financial outcomes.

Hotel occupancy rates this year reached a record high in many parts of the world. In the United States, occupancy hit 66 percent, the highest it has ever been. Still, there is room for improvement. There is also opportunity to ink out additional gains in room rates, which, after all, is the promise of next-generation revenue management. The demand for AI-powered solutions has increased with the proliferation of OTAs with differing pricing and commission structures, shrinking booking windows, ever-more intense hotel competition, especially in popular destinations, and increasing pressure to drive profitable growth. Simply put, no hotelier wants to leave money on the table. This roadmap diagram illustrates the migration path for revenue management solutions as they evolve in scope, sophistication, accuracy — and, ultimately, in delivering positive business results.

The Smart Decision Guide was independently produced, providing for unbiased, fact-based information. The research is based on data collected in Q2 2019 from more than 250 qualified survey respondents.  The underwriters of the new Smart Decision Guide are the following industry leaders: Atomize, Duetto, Infor, Rainmaker (a Cendyn company) and SHR.

The 2019 Smart Decision Guide to Hospitality Revenue Management is now available for complimentary download. It can be accessed here. (Disclosure: Starfleet Media, the parent company of Starfleet Research, is the publisher of Hotel Technology News and Restaurant Technology News.)