Today we follow upon our video from yesterday looking at Total Revenue Management

In today’s video we take a wider perspective – from a Chief Executives viewpoint.

We are joined by Vassilis Syropoulos , Founder and CEO of Juyo Analytics, one of our Expert Partners

We ask for his thoughts on some of the points made in the recent discussion with Karin, Amrita and Jens

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We question why department silos are still so prevalent, how hotel contracts and kpis influence the hotel performance focus, and where technology, specifically BI tools, can have an impact on (eventually) achieving total revenue management

Really hope you enjoy the conversation.


In terms of revenue as well, we have a very inventory centric way of looking at our business. And the shift that we need to do in our head is that, you know, if you’re looking at total revenue, you’re not talking, you shouldn’t be talking about inventory, but you should talk about the customer. So the thing that links everything together is actually the customer, the thing that links departments together is the customer. So once you change that level of thinking, let’s say, as an organisation, and you put the customer in the centre, and you look at how everything revolves around the customer, then you can start, you know, taking decisions across different departments.

In the meanwhile, what’s happened is that the big brands became franchise companies and the franchise contracts are, you know, let’s say the money comes from room revenue, and percentages on room revenue, some percentage on total revenue, but not so much. I mean, it’s it’s minor, right. So all these franchise contracts are on the room revenue. So the incentive for the big brands that could invest, let’s say, in this area, was not there anymore, so therefore, they didn’t invest. And if you look then on the hotel side, the smaller companies, well, they didn’t have money to invest, but then the technology wasn’t there either. And then the expertise was in the brands and it wasn’t in the small company. So that’s why, you know, total revenue became kind of a no man’s land

Another reason I think, why total revenue as such, we say to Total Revenue Management is not there is because it’s a collection of different tactics. It’s not one thing that you’re doing, your not optimising room revenue, pricing and inventory. Right. So optimising room revenue pretty much, is the basics revenue management, if you exclude distribution is, you know, how much do I sell off every segment? You know, really simplistically, and at what price? That’s basically the playing field. Total Revenue is much more than that. It’s, you know, who are the customers that spend the most in my hotel? How do I optimise my meeting events? You know, what’s my revenue per square metre in the restaurant? Can I optimise table rotation? What kind of promotions can I pull up to drive packages or upsell before? So it’s all of these tactics all together, and that’s what total revenue management is

A good BI tool, and that’s how we think about it, you have questions and these questions need to be answered, that’s great, but what if you don’t know the question? So you know, then we need to help you formulate these questions. Right? And, and so if we can do that, as a company, we say, let’s, let’s help hotels, formulate better suggestions, I think then we’re on to something, because it’s not only about getting the data, processing it, and sort of feeding you the data. No, there’s some, you know, I call it internally, let’s say what’s the magic layer on top of that, you know, how can we, how can we do that?

WATCH NEXT (A few of our other videos)


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00:56  Guest welcome
01:58  Why Do Hotels Still Have Departmental and Data Silos
04:17  Brands, Management and Franchise Contracts KPIs Don’t Support Total Revenue
10:04  Huge Data Volume Is Good, but Technology Sophistication to Combine This Is Key
14:25  Why Technology Should Help Ask the Next Question Not Just Analyze Data
19:58  More Videos and Subscribe