Using Hotel Demand for a Blue Ribbon Strategy
In revenue technology, what about approaches that use small slices of hotel demand—such as lost business—to make big-picture forecasts? Is that enough, or should technology evaluate a larger set of considerations to determine total hotel demand?
Why Cancelling & Re-Booking is Killing Your Revenue
Why do guests cancel and re-book hotel reservations? Well, that’s easy: Because they can, and because it makes economic sense—people don’t want to spend more money than they have to. In the eye of the traveler, freeing up money on a hotel stay frees up money to spend on other enjoyable aspects of a trip.
Why Leading Scientists Call ‘Regrets and Denials’ “Dirty Data”
Historical demand has long been a critical component of dynamic pricing and Revenue Management Systems (RMS). An even more critical requirement for RMS is the unconstrained demand, which is the true demand for a particular product in the absence of any limitations, such as when a room or seat is unavailable to purchase. The […]