In this interview with revenue management executive, Jason Edwards, you’ll discover:
- What hotels should do to shore up their business during times of declining occupancy
- The important changes in consumer behavior, when it comes to loyalty programs, that can drastically scew a hotel’s understanding of a guest’s lifetime value. And what to do so you can counter-act these trends
- What happens when hotel management sets unrealistic budget expectations on their general managers, and how that can effectively topple ADR in any given area. And what to do so you can ‘make the best’ out of a bad situation
- What hotels are most vulnerable during a downward economy, and which ones stand the greatest chance of powering through
- And more…
I’ve listened to this interview at least 5 or 6 times and every time I do – I learn more about revenue management. I learn how hotels can stay afloat even if they get hit with another recession. So I highly recommend you do the same.
After all, RM isn’t rocket science. But it IS awareness. For those operators who aren’t aware of what they’re property’s position is in the market, or what they should be doing to protect their business, it’s easy for them to step on a land-mine.
To be sure that isn’t you, listen to what Jason says, post comments and questions in our FORUM, and lets learn from each other – before the economy goes off the rails just like it did in 2008.
Yes, 2017 might have it’s own unique problems, and the next financial plunge might have nothing to do with AIG or Lehmen Brothers… But whatever happens, when there’s a slide, it effects the hospitality industry almost over night.
Just have a look at this graph from STR to see what I’m talking about:
And look at the cyclical nature of RevPAR growth over the last 27 years and tell me that a ‘reset’ isn’t well over-due. If you can’t see that, and 15 minutes of your time to listen in to this interview is more precious than your future in this industry, then just click away. By all means.
But if you understand that we should all take the time to learn from the past – lest we be doomed to repeat it – then Jason’s insights on revenue management are your essential guide.
Listen.
Learn.
Repeat.
