Hi, welcome to another Expert Insights discussion
Today we are joined by 3 guests:
NB: Aggregate Intelligence, Lybra and Atomize are all Expert Partners,
This is a wide ranging discussion centered around the importance of time, adaptability, and the ability to respond quickly to market changes in the context of pricing strategies for hotels, emphasising the challenges faced by smaller independent properties in managing pricing strategies manually and how automated pricing systems can address these problems.
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Kris, Nick and Marco also look at the evolving nature of the hotel industry, the challenges faced by traditional revenue managers, and the potential impact of new entrants and changing guest expectations.
We touch on the potential benefits of adopting automated pricing systems for revenue management, occupancy optimization, and reducing manual efforts, especially in smaller properties where dedicated resources are limited.
Also, the need for continued education, adaptation to technological advancements, and a shift in mindset towards viewing revenue management systems as essential tools for staying competitive in the evolving hotel industry.
During the conversation we touch on subjects such as:
- Time Constraints
- Frequency of price changes
- Understanding market dynamics
- Role of Automated pricing
- Real time dynamics
- Technology adoption
- Educational gap
- Cost perception
- Generational shift
- Guest personalization
Really hope you enjoy the conversation
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- Avoiding Ethical Pitfalls from the Dark Side of Revenue Management
- To Drive Topline Revenue Hotel Sales Must Think Like Marketing
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01:25 Guest welcome and introductions
05:00 Kris sets the scene of the discussion
07:14 What is automatic pricing
11:50 What is the value of adopting automated pricing
21:31 Why do a majority of hotels still not use an RMS or pricing solution
32:54 How much are the new generation driving the need for hotels to adopt technology
37:54 How much are new hotel developers expecting technology investment
48:10 Wrapping up
51:49 Further videos and subscriber link