Today we are joined by 3 Guests
- Michael McCartan – founder of mccartan tech consulting
- Neville Isaac – Chief Customer Officer at Beonprice
- Marko Lukicic – Co-Founder and Director at Acquaint
This discussion continues our series looking at the evolving role of the revenue manager. The last episode looked at the need for technology if you want your Revenue Manager to be strategic. Here is the link to that article and here is the video link
Today we explore how the RMS is evolving and what additional data sets are being integrated to enhance the pricing element – looking at optimal pricing and fair pricing.
We then talk about potential, non traditional, indicative data sets and consider some constraints around this in terms of cost and privacy legislation
Areas we touch on and questions we pose are:
- Current RMS solutions – Is it providing sufficiently accurate predictions
- Does the current RMS only really automate what we did manually
- RMS 2.0: How is the RMS evolving
- Market Intelligence and the influence on a hotel – marrying internal and external data to improve price recommendation
- Fair pricing
- Willingness to pay and how individual property features could play a greater part
- How are those without an RMS doing revenue management. Do they really understand the concept
- Is most revenue pricing forecast still just adding a multiplier to last years rate
- How the Finance sector moved beyond traditional historical data
- RMS 3.0: What untraditional data sets could we be exploring to enrich forecasting
- Macro data and micro data
- How trust can be an issue as more data sets get added
Here is a link to Subscribe to our YouTube channel
You can also listen to this interview as a podcast via the following feeds:
https://podcasts.apple.com/us/podcast/revenue-hub-podcast/id1459481469?uo=4
