HOTELMARKETING.COM

Hotel revenue managers feel pressure to reduce price

March 27, 2009 |

Cornell's revenue management expert Sherri Kimes conducted an online survey of hotel RM professionals throughout the world to gauge how revenue management has changed during these times of economic uncertainty.

With the recent economic downturn, many hotel revenue managers have been struggling with how best to manage declining demand and the pressures to reduce rate.

In order to gauge how revenue management has changed during these times of economic uncertainty, Sherri Kimes, STB Distinguished Professor of Asian Hospitality Management, Cornell-Nanyang Institute of Hospitality Management, conducted an online survey of hotel RM professionals throughout the world. The survey, conducted in partnership with EyeforTravel, was completed by the end of March.

Survey respondents were asked to evaluate eight different issues and assess how the importance of those issues had changed from the previous year. In addition, respondents were asked several questions on how occupancy, ADR and RevPAR performance had changed at their hotels during the previous year.

In addition, the survey posed three open-ended questions on major issues, changes and the future of RM. Finally, the survey recorded various demographic statistics including each respondent

Visit our sponsors: