The Hotel Revenue Management Landscape 2019
Skift Take
Report Overview
It feels like we are at a crossroads. Looking back a few years from now, we might be shocked to see how few hotels practice sophisticated revenue management today. Excel worksheets, heuristics, and gut feeling are still very prominent when it comes to setting room prices and developing a greater pricing strategy. This might all be about to change.
As technology becomes more affordable, and machine learning and artificial intelligence are being introduced in all walks of life, more hotels are starting to look at automated pricing systems to allow more competitive pricing. Reliance on online travel agents with high commission rates and rate parity issues furthermore increase the need for a coherent revenue strategy.
This report investigates the current landscape of revenue management systems, highlighting the opportunities for growth over the coming years. As a rapidly growing industry, there is a plethora of small players which makes for an opaque landscape which can seem daunting to newcomers and outsiders. Here we clarify the key differentiators of the vendors, as well as some of their shortcomings. An important discussion about the future of revenue management is kicked off.
What You'll Learn From This Report
- How the revenue management discipline has evolved and where it is today
- The main revenue management vendors and how their products differ
- The size and growth opportunity of the revenue management vendor landscape
- The main opportunities and challenges for the future
