As hospitality technology continues to evolve and reach higher levels of sophistication Revenue Managers are leaving multitudes of daily decisions in the proficient hands of revenue management systems.
This allows Revenue Managers more time to focus on overall strategy and other crucial tasks.
With a limited amount of human oversight various systems can forecast demand by segment, manage rate and restriction changes as needed including reacting to sudden high demand and maximize profit. Another exciting key technology component for the hotel industry is GIS – Geographic Information Systems which enables hotels to compile geographic information to target and enhance their marketing efforts. As technology evolves machine learning continues and the human element is still key. Let us take a closer look at a few of these points.