Everyone wants to be a disruptor, and with technology giants Amazon, Google and Alibaba moving into the hotel business there is no better time to learn from the industry’s biggest risk takers.
That’s why Patrick Bosworth, co-founder and CEO of revenue management software developer Duetto, said the Revenue Strategy Summit was founded in the first place.
The event, now in its sixth year, took place on July 10 in Washington, D.C., with the goal of educating hoteliers on revenue-management strategy and how to remain successful in a world dominated by rapid disruption. Even though hotel companies have been outmaneuvered in recent years by nimble digital entities such as online travel agencies and home-sharing websites, Bosworth said there is still much reason for positivity.
“It’s my belief that hoteliers have been so far behind in their ability to create value in many channels that they have focused on the channels they have been able to control, where they have not seen erosion,” Bosworth said. “As new big entrants come in, they will compete for the same customers that Expedia and Booking.com do. It’s no longer a duopoly, and hotels have been able to leverage data to compete for those customers, as well.”
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