Skift Research Take
Revenue management is unquestionably becoming more important for hotels in an ever-more competitive market. Revenue Management Systems play an important role in automating pricing, but hotels should not see these as a one-stop solution to all their problems. There are bigger strategic questions that need answering.
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
- Ari Andricopoulos – CEO at RoomPriceGenie
- Florian Augustin – Chief Marketing and Business Development Officer at HotelPartner
- Joris Beerten – Global Commercial Director at OTA Insight
- Vivek Bhogaraju – Director, Revenue Management Solutions at Expedia Group
- Matt Curry – SVP, Global Head of Sales at Rainmaker
- Alexander Edstrӧm – CEO at Atomize
- Craig Eister – SVP Revenue Management at InterContinental Hotels Group
- Nadim El Manawy – CEO at Arise
- Cindy Estis Green – CEO at Kalibri Labs
- David Grey – Director of Yield Management at Hostmaker
- Caryl Helsel – CEO at Dragonfly Strategists
- Neville Isaac – Chief Customer Officer at Beonprice
- Klaus Kohlmayr – Chief Evangelist at IDeaS
- Emil Majkowski – Platform Architect and CIO at Rentals United
- Michael McCartan – Managing Director EMEA at Duetto
- Jens Munch – CEO at Pace
- Jason Pinto – COO at Pace
- Vineeth Purushothaman – Senior Manager Distribution EMEA at Wyndham Hotels & Resorts
- Stan van Roij – VP Hospitality Solutions & Program Management at Infor
- Ira Vouk – Pricing Intelligence Product Leader at Cloudbeds and co-founder of iRates
- Vendor insights and data was also provided by representatives of Outperform RMS, Hotel Price Reporter, Spotpilot, Rateboard, LodgIQ, Kriya RevGen, RevControl, Hotel Scienz, Price My Hotel Room, Dataria, and Climber RMS.