April 21, 2017

Innovate or die should be your new mantra


Today, we’re in an environment of contrasting, sometimes-contradictory information and data that is causing some RMs to scratch their heads in frustration.

There are significant disparities in some recently reported economic benchmarks — from jobs creation to international travel to corporate profits — that make it difficult to see where the future lies. As a result, revenue managers need to find innovative ways — including pricing strategies — to stand out from the competition in an increasingly uncertain competitive environment.

Official data and anecdotal trends show an era of mixed messages facing hotel operators. The number of jobs created in the U.S. in March (98,000) was the lowest in nearly a year, yet on the same day as that announcement a report from Career Builders revealed that 45% of U.S. companies plan to hire full-time, permanent employees in in the second quarter, up from 34% in the same quarter last year and the highest since 2007.

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