Revenue management used to signify opening and closing availability and pricing, but it has now evolved into a rather popular buzzword in the hotel industry. When online travel agency OTA emerged on the scene, the market grew focused on easy rate changes. Keep in mind this truth as the (RM) revenue management process develops. Only 12,000 – 15,000 hotels employ a major (RMS) tech nowadays. The other 500,000+ hotels use either revenue management tools or … Read More

As per McKinsey, AI-based pricing can boost the value of the global market between $259.1 billion to $500 billion. But the crucial query is still open: can or should revenue management be fully automated? The answer is yes, but while this is true in theory, it is not always the case in reality. As per a recent MIT-BHI study, firms that, “undertook AI-driven pricing reforms achieved more than $100 million of revenue increase. 70% more … Read More