What is the role of the hotel revenue manager?
The role of the hotel revenue manager has traditionally been to make decisions impacting room revenue—including rates, occupancy and lengths of stay. Today, the role has expanded to include leadership for total hotel revenue management, an increased focus on optimizing profit, and greater influence across the entire organization.
Hotel revenue management has played a critical role in the success of lodging operations for more than 30 years. In today’s digital travel environment, revenue managers have access to more data, more systems and more channels than ever before. This added complexity, coupled with an expanded influence and responsibility, is driving demand for technologies that improve revenue performance and overall competitiveness.
Research insights reveal new challenges in an evolving role.
In order to better understand the changing world of revenue management, Expedia Group worked with Phocuswright, a leading travel market research agency. Conversations took place across the globe, in many languages, and with all types of properties to identify the current challenges faced by revenue managers and opportunities to better support them.
From these discussions, we uncovered five key themes:
- Information overload impedes optimization
- Disparate systems are slowing decision making
- Complex distribution is impacting conversions
- Gaps in information are impacting forecast accuracy
- Expanded role emphasizes total hotel revenue leadership and profitability.