Today we are joined by 3 Guests:

🔹 David Lopez – Chief Science Officer at Pace
🔹 Maxime Cohen – Associate Professor at McGill University
🔹 Nancy Pyron – Analytics, Strategic, and Organizational Consultant at NMP Consulting

In today’s video we discuss elements of a whitepaper our 3 guests have recently authored looking at Statistical Field Experimentation (or lack thereof) for testing revenue management strategies in the hospitality industry

Subscribe to our weekly newsletter and stay up to date

👇 We touch on:

🟠 What Field Experimentation is
🟠 Indicative scenarios where it could prove valuable
🟠 Practical challenges faced
🟠 Experimental Designs to address these challenges

🔗Link to Whitepaper:

Here are the chapters:

  • Guest Intros (1:30)
  • Rationale for writing the whitepaper (3:48)
  • Introduction to Statistical Field Experimentation (6:55)
  • Beneficial Scenario 1 – Ancillary Pricing (17:20)
  • Beneficial Scenario 2 – Distribution Channel Optimisation (20:06)
  • Beneficial Scenario 3 – Promotion Success (24:00)
  • Beneficial Scenario 4 – Choice of RMS (31:08)
  • Beneficial Scenario 5 – Updating Revenue Management Algorithms (38:57)
  • Beneficial Scenario 6 – Price Update Frequency (42:23)
  • 3 Core Practical Challenges (51:09)
  • Experimental Design to Address the Challenges (1:05:55)
  • Summary of areas discussed (1:15:55)
  • What do we hope the whitepaper will achieve (1:16:21)
  • Wrap up (1:16:48)

👀 WATCH NEXT (A few of our other videos):

💢Want your Revenue Manager to be Strategic .. Do You Have an RMS?
💢Revenue Manager Crisis Checklist
💢Now is the time for hotels to bring revenue and marketing together
💢How will the RMS evolve to move revenue management forward



Here is a link to Subscribe to our YouTube channel

You can also listen to this interview as a podcast via the following feeds: