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ISHC - Annual Conference Crystal Ball Sound-byte Revenue Management – A Discipline Coming of Age

ISHC - Annual Conference Crystal Ball Sound-byte Revenue Management – A Discipline Coming of Age. San Diego Friday, October 21, 2005. Look for these Trends. Rapid evolution to profit management Scarcity of resources while raising the bar Trying to “shoe a horse on a dead run” RMS frenzy

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ISHC - Annual Conference Crystal Ball Sound-byte Revenue Management – A Discipline Coming of Age

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  1. ISHC - Annual Conference Crystal Ball Sound-byteRevenue Management –A Discipline Coming of Age San Diego Friday, October 21, 2005

  2. Look for these Trends • Rapid evolution to profit management • Scarcity of resources while raising the bar • Trying to “shoe a horse on a dead run” • RMS frenzy • RM audits becoming a must

  3. Evolving Discipline Revenue & Profit Mgmt. Revenue Mgmt. Yield Mgmt. Inventory Mgmt.

  4. Coming up thru ranks hasn’t cut it Well trained DRM’s in high demand $75-$85k + 30% bonus – property level Many don’t leave the brands Tactical expertise insufficient Scarcity of Resources

  5. Raising the Bar • Certification initiatives • AHLA, HSMAI, NYU, Cornell • Brands working with institutions (Hyatt & University of Houston) • More emphasis on leadership & communication (any one can crunch numbers) • Not looking in ops – looking in sales w/ analytical skills • Executive committee member

  6. Trying to Shoe a Horse on a Dead Run Sources: YPBR, MSNBC, hotelnewsresource.com, TIGglobal/HSMAI

  7. Growth in Online Lodging Bookings Billions $ Source: Jupiter Communications/TGI Global HSMAI

  8. Who’s Going to be Booking On-Line? Millions • Baby Boomers - born 1947 - 1965 • Generation X - born 1966 - 1977 • Echo Boomers - born 1978 - 1997 Where is the future online market for your clients?

  9. RMS Frenzy • Up hill battle for the RMS companies • Complex markets/distribution forces hotels hand • Shorter lead time all segments • Dynamic pricing all segments • Dynamic inventory all segments • More cost effective RMS options • RMS’s will become standard “equipment” • But can’t give a Ferrari to student driver

  10. RM Audits Become a Must • Feasibility studies • Real estate sales • Brand changes • Management company changes • Ownership changes

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