ATLANTA (PRWEB) July 05, 2019
For more than 10 years, the hotel sector has experienced unprecedented growth. But hotel companies are under increasing pressure from growing supply, waning demand, and persistent competition from Google, Amazon and other online disruptors, according the 2019 Revenue Management Trends in Hospitality Report by Revenue Analytics, a leading pricing and revenue management firm for the hospitality industry.
Based on a survey of senior leaders in the hospitality industry and extensive industry research, the report outlines three trends facing hotel leaders today: renewed revenue management investment, ongoing hotel chain consolidation; and increasing online travel agency stronghold.
According to the report, while hoteliers have experienced steady growth over the past decade, they now face supply that has outpaced demand for the first time since 2009. As the industry faces new pressures, hoteliers need to rely more on revenue management to drive topline revenue growth.
The Revenue Analytics survey found that 79% of respondents say that analytics, data intelligence, and automation will be their greatest focus for Revenue Management for 2019.
Revenue and pricing management is the key to staying competitive in today’s changing environment, according to Paul Murray, Vice President, Strategy, Revenue Analytics.
“Revenue management has long been a key tool to drive topline revenue performance, but innovation is overdue,” Murray said. “Advanced analytics, new technologies and strategic insight can help hoteliers build efficiencies and create profits, while staying ahead of the competition.”
The 2019 Revenue Management Trends in Hospitality Report outlines current trends and challenges facing hoteliers today and strategies to stay ahead of the shifting environment. To access the free report, please visit https://research.revenueanalytics.com/2019HospitalityTrends.
About Revenue Analytics
We empower big companies to make big revenue decisions in pricing, products and promotions to drive millions in revenue and eliminate wasted time.
Our hybrid approach blends artificial and human intelligence to provide predictive analytics at scale. These flexible solutions enable our clients to act immediately and adapt strategically.
To find out more about Revenue Analytics’ solutions and resources for the Hospitality Industry, visit RevenueAnalytics.com/Hospitality.
