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 has to be all of the above. He or she has to be an Excel guru and be able to master complex business intelligence tools. Revenue managers have to be demand managers and demand creators. They have to stand up to the juggernaut of marketing & sales (sell the dream, service the nightmare) and speak their mind to multiple stakeholders at all levels—hotel, corporate, third party, asset, and ownership.
Yes, the role of the revenue manager is ever evolving. It is not enough today to be a good tactician. It’s not even enough to be a good traditional revenue manager. Today’s complex markets and rapidly changing consumer-buying behavior challenge the revenue manager to wear many hats.
At the same time, if revenue managers are to make it to the next iteration of revenue management expertise, they have to “embrace work scope creep,” according to Sloan Dean of Ashford Hospitality Trust.
By: Bonnie Buckhiester (Principal of Buckhiester Management the leading Revenue Management consulting firm in North America for the hospitality industry.)
The above is an extract of the original article available at: HNN