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Hotel Pricing in a Social World
Driving Value in the Digital Economy
T he evolution of the digital economy has enabled consumer behavior to become more quantifiable. As a result, the role of revenue managers has changed from a tactical orientation to a strategic approach involving pricing, total hotel revenue management, and a customer-centric methodology to developing demand. Hotel Pricing in a Social World demystifies the modern practice of revenue management to ensure revenue managers develop the knowledge and skills they need to meet today's challenges and take advantage of profitable new opportunities. Based on research from leading experts and firsthand e...
T he evolution of the digital economy has enabled consumer behavior to become more quantifiable. As a result, the role of revenue managers has changed from a tactical orientation to a strategic approach involving pricing, total hotel revenue management, and a customer-centric methodology to developing demand. Hotel Pricing in a Social World demystifies the modern practice of revenue management to ensure revenue managers develop the knowledge and skills they need to meet today's challenges and take advantage of profitable new opportunities. Based on research from leading experts and firsthand experiences of the author and revenue leaders from around the world, practical coverage guides hotel revenue managers to make the best decisions about data, technology, and business processes to move their business forward. Everything you need to be competitive today and into the future is inside--from innovations in analytics and technology improving pricing decisions, the expanding role of revenue management, and such broader strategic opportunities as personalization initiatives. Along the way, you'll gain skills that will elevate your value in your company and the industry, including: * Using pricing to improve reputation, drive market share, reinforce branding initiatives, increase guest loyalty, and attract new owners and investors * Identifying the best circumstances to apply price optimization as opposed to traditional inventory optimization * Dissecting analytics to uncover opportunities to improve decision making in revenue management as well as across the entire organization * Creating intelligent demand management, where marketing generates demand during needed periods and promotional demand is accounted for in pricing and allocation decisions * Developing a pricing strategy based on user-generated content * Boosting other revenue-generating assets with a versatile revenue management framework Whether you want to become top talent or attract it to your hotel, Hotel Pricing in a Social World is your single-source solution.
