Webinar - Advanced Tips from Revenue Management Professonals
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Transcript of Webinar - Advanced Tips from Revenue Management Professonals
MEET THE EXPERTSAdvanced Tips From Revenue Management Professionals
THURSDAY, JULY 23 - 9:00AM (PDT)
About Duetto
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Founded byIndustry Leaders
World-ClassTechnology Development
Committed toCustomer Success
Our Speakers
Gayle EhreanSenior Director of Customer Success
Chris KnotheSenior Solutions Engineer
Tim KolmanSenior Solutions Engineer
Agenda
▍ The evolution of Revenue Strategy
▍ Saying ‘no’ to discounted business
▍Understanding your market factors
▍Collaboration across departments
▍ The importance of segmentation
▍Analyzing your decisions
▍ Tearing down walls
▍ The availability of Big Data
▍Open Pricing
▍ Extended Q&A
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Gayle EhreanSenior Director of Customer Success
From revenue management to revenue strategy
Technology shaped revenue strategy
3 seasonal price points
New data and reports hit the scene
Just Say No
▍Saying ‘no’ to business▍Defend your decisions
capacity
Bookings
revenue
not optimized
Be very aware of your market
channels
business mix
trends by segment
Understand outside influences
▍Learn from your resources ▍Understanding the OTAs
Chris KnotheSenior Solutions Engineer
RegionalOffice
Owner Hotel Brand
PropertyManagement
Collaborate across the hotel
Operations
Sales &Marketing Distribution
RevenueManagement
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Executing across departments
Consistent/weekly updates
Market and communicate your pricing
Make a case for tech investments
The importance ofsegmentation
▍Use Pace Reports by market segmentation and channel
▍ True segmentation is actionable
Analyzing your decisions
▍Track cause & effect consistently
▍Could raising rates actually lower ADR?
▍Price experimentation
Tim KolmanSenior Solutions Engineer
Why the walls?
Bridging the RM & Sales gap
Benefits of
working together
Strategies to
remove barriers
The availability of Big Data
MacroeconomicData
Air Travel
Competitive Pricing
Reviews &Social Media
WebShopping
Weather
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Breaking from the norm
▍Go beyond "industry standards"
▍Open Pricing
▍Look outside the industry for strategies
Influencing the customer
| Our decisions affect customers| Give consumers a reason to
book direct
ASK THE EXPERTSQ&A: Your turn to ask questions.