Innovative Problem Solving in a Post-COVID-19 World
The Art of Critical Thinking
Some years ago, my sister Wendy was completing her master’s degree.
Looking for Demand Clues During a Pandemic
Has your revenue team made the leap to access untraditional data sources when looking for demand clues? It’s very possible there’s more to discover than you think.
Over the past many months, I’ve witnessed with almost incomprehension the evolution of change the COVID-19 pandemic has forced upon our industry.
Leadership in a Crisis: A Core Lesson we All Must Learn
In times of crisis, the ability to manage change is paramount. Those who are able to embrace and manage change will navigate these troubled times with much more success.
When the coronavirus struck, our industry went from “60 to zero” in a matter of days.
Why Revenue Managers, Digital Marketers Need to Unite
Is your hotel leveraging the knowledge of its digital marketer? Do you know which data sets support “surgical strikes” that create demand? If not, it’s time to converge your revenue management and digital marketing efforts.
Digital marketers today are more-regular participants in weekly revenue meetings. This hasn’t always been the case. As hyper-personalization in marketing techniques have taken hold...
Revenue Managers and Digital Marketers Need Each Other
Sooner or later, the industry’s sustained stretch of RevPAR growth will yield to some measure of decline, and history tells us that we often turn to rate to solve our problems. But there’s a better way if your revenue manager and digital marketer work together closely.
In a conversation recently with a colleague, I defined what I saw as the first, second and third generation of revenue-management professionals.
RM, Digital Marketing Must Converge, Not Crash
Too often, the revenue management and digital marketing disciplines collide. What they should be doing instead is working hand in hand to avoid confusion.
Sometimes I feel I can hear screeching tires in the background. You know that sound just before metal hits metal? We probably all unconsciously hold our breath at that point, almo...
How to Be a Revenue Leader of the 21st Century
What century are we in? The 20th or the 21st? No longer can we in the industry use antiquated approaches and attitudes to manage demand.
What exactly is the role of the revenue manager today? Tactician? Strategist? Mediator? Leader? Innovator? Software Expert?
The truth is that, ideally, the revenue manager ha...
How Effective Is Your Revenue Meeting?
A viable weekly revenue meeting should involve four structured components, not last longer than an hour and include an ample dose of accountability.
It’s Wednesday morning at 10 a.m. The boardroom’s booked, the report packages are ready and the “usual suspects” enter the room to participate in the week’s revenue-management mee...
Seeking a New Generation of Revenue Managers
The next wave of revenue managers need to possess leadership skills, a thirst for knowledge and an interest in digital-marketing trends.
Optimizing Total Revenue Management
For any hotel looking to move to the very highest level in its revenue management effort, total revenue management initiatives must be considered.
Revenue Management: Social Media’s Impact
Social media is here to stay, and revenue managers must evolve in the face of this formidable new landscape.
No matter where I turn today, whether it’s a conversation with a colleague, friend or family member … or a story in the traditional press … or a revolution in a distant country … ...
Impact of Social Media: Is Your RM Effort Ready?
Now is the time to assess your current revenue-management situation and integrate it with online and social media marketing.
I recently attended two conferences in Orlando—HSMAI’s Revenue Management & Internet Marketing Strategy Conference and HFTP’s annual HITEC. At both events, a plethora of interestin...
Rate Resistance, so Now What?
You’ve tested for rate resistance, and it’s there. And you’ve had success with adding value and well-fenced promotional specials. But you’re running out of options. Now what?
Editor’s note: This is the second installment in a two-part column about price wars and rate resistance. Read “Winning the price war.”
Winning the Price War
There are options for hoteliers embroiled in price war battles that are much less damaging than dropping price. Asking the right questions and erecting “fences” are two places to start.
Editor’s note: This is the first installment in a two-part column about price wars and rate resistance. Read “Rate resistance, so now what?.”
Buckhiester: Total Revenue Management and the Downturn
Holding rates is the de facto advice for revenue managers in a downturn, but "total revenue management" may be just as valuable.
In the past eight weeks, I’ve spoken at three different conferences as well as a widely broadcasted Webinar. At every event, I’ve been asked: as a revenue management consultant wha...