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The future of hospitality revenue management

  • Automatic
  • 26 November 2024
  • 1 minute read
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This article was written by Hospitality Today. Click here to read the original article

Deeper integration of AI technologies will transform revenue management, providing unprecedented capabilities for data analysis and real-time decision making

Nov 26, 2024

Hospitality revenue managers are navigating a complex and evolving environment influenced by shifting consumer preferences, regional variations, and growing competition from short-term rentals. These challenges highlight the urgent need to transform revenue management practices, especially in key markets like the U.S., where RevPAR growth is projected to be a modest 1.2% through 2024.

Key takeaways

  • Enhance dynamic pricing strategies: AI-powered simulation models, combined with improved data quality and integration of RMS with ERP and CRM systems, enable seamless real-time data flow for accurate pricing decisions;
  • Optimize demand forecasting: AI advances in predictive analytics enable more accurate forecasting of occupancy and revenue across booking channels, empowering revenue managers to make smarter, data-driven decisions;
  • Personalize for loyalty and growth: Advanced RMS tools analyze customer data to deliver tailored pricing and promotions, meeting rising expectations for personalization and driving repeat bookings.

Get the full story at Capgemini

Please click here to access the full original article.

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