This is the third in a series of five videos about the future of revenue management, as moderated by Sherri Kimes, professor of operations management at Cornell’s School of Hotel Administration.
The function of revenue management within a hotel organization has evolved significantly since its inception. The proliferation of industry data and channels only solidifies what we’ve already realized: revenue management is in the midst of an analytical tsunami.
So what’s next for performance measurement?
Industry insiders have predicted the emergence of newer KPIs in the future. Just why, then, hasn’t RevPAR gone away—and is it going to be the dominant KPI in the future? What did people think back in 2010 compared to today and what’s different now?