HSMAI Europe Think Tank on Revenue Management

Mandarin Oriantal, London

The Think Tank will take place on Wednesday 25 February, from 9 AM to 3 PM at the Mandarin Oriental Hotel Hyde Park in London.

The moderators will be:

Kelly McGuire (https://www.linkedin.com/in/mcguirekelly)

Michael Nowlis (https://www.linkedin.com/pub/michael-nowlis/0/9b1/a98)

Times schedule

(max 24 persons incl. the moderators- by invitation only)

When What
09:00–09:15 Welcome, introductions and logistics
09:15-10:00 “Big Data” and Revenue Management: Evolving market influences
Revenue management has evolved from a tactical “open and close rates” effort to a more strategic role within the hotel business, as changing market conditions have put new pressures on both day-to-day pricing decisions, but also longer term pricing strategy development. New data represents a huge opportunity for revenue management. However, much of this data is coming from new sources and is in different formats than revenue management traditionally works with. In this session, we will discuss the role of this new data, and determine how to best leverage it to drive value in the organization.
10:00-10:15 Break
10:15-11:15 Identify, Train and Retain: Where do we find the revenue managers of the future?
One of the biggest challenges revenue management faces globally is how to identify, train and retain talent. As the revenue management role evolves, and the required skills sets change, it is becoming more and more difficult. Using a group exercise, we will identify the skills and behaviors of the revenue manager of the future, and come up with new and creative ways to source talent. In this session you can expect to hear best practices and inspirational ideas from your peers about how to tackle this critical issue.
11:15 – 11:30 Break
11:30-12:00 Talent Debrief
12:00-12:30 Revenue Management Beyond Rooms
Now that hotel room revenue management has become mainstream, revenue managers are looking to other revenue generating assets in the hotel as the next opportunity, whether it’s function space, food and beverage, spa or retail. In this session we will present a case study on applying revenue management outside of hotel rooms as inspiration for a discussion for how to identify opportunities to drive revenue across the enterprise.
12:30-13:30 Lunch
13:30-14:15 Distribution Channel Challenges and Opportunities
The distribution landscape is becoming more complex every day. As new channels and new partners emerge, it seems like everyone wants a piece of hotel revenue. In this session we will share experiences in working with third parties, discuss the implications of recent regulations and debate the pros and cons of working with different types of distribution partners.
14:15-14:30 Break
14:30-15:00 Review & Final Thoughts