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Hotel revenue management has expanded in the last few years, with more factors to consider, and more data for which to account to get the clearest picture. Sometimes, intelligent solutions and automation still feels like giving up decision-making power for a lot of hoteliers. But the exact opposite is true. Here’s why that is.

Being supported by hospitality technology solutions designed to help organizations succeed daily is how hotels, resorts, and casinos gain confidence in their partnerships. What are the essentials of this in an era that has proven that the landscape can shift very suddenly? What must be in place to meet today’s challenges and scale for emerging one? Here’s a selected list to consider.

Despite the usefulness of automation and algorithm-based functionality, hesitancy around AI technologies has been common in the hospitality industry. Some organizations have been wary of turning over hotel revenue management forecasting and price adjustments to these features. But are the contributions of machine-learning functionality and human expertise around strategy mutually exclusive? The short answer is no. For revenue management activities, It’s more useful to look at the relationship between AI and human leadership and how one enhances the efforts of the other. Here’s what we mean.

In a customer case study we developed a few years ago, Eynsham Hall, a grade II listed mansion in scenic Oxfordshire with more than 130 guest rooms and 43 meeting rooms on site, needed an advanced hotel property management and hotel revenue management solution to bring modern, data-driven efficiency to its old-world charm. Discover how these two worlds met, and the vital business results that came out of it.

We hospitality people are so ready to check out of this worst year ever

In the hospitality industry, revenue management that includes precision pricing and forecasting plays a vital role in continued resilience. This is in an industry faced with the demands for greater maneuverability and adaptation during a period of unprecedented disruption. What role must machine learning play in supplementing the efforts of hotel revenue management teams? How will that impact how resilient hotels, resorts, and casinos will be in times to come?

Every square foot of space in a hotel location has value. This means guest rooms, of course. But it also means events spaces, either those that are designed for specifically for events and meetings or ones that could be adapted creatively. How do you attach a value to these kinds of spaces? What factors should be considered in setting KPIs that help to establish a vision for what success should look like? Here are some important ways that an advanced revenue management strategy and solutions can shape a more intelligent approach to addressing these questions.