Advances in hotel revenue management technology enable faster response and better leverage of local trends
Jan 14, 2025
The concept is that hotels should be able to easily identify upcoming local events, such as conventions or concerts, and adjust their revenue strategies accordingly. Artificial intelligence is increasingly helping to connect these data points, enabling hotels to reach the market more efficiently.
Key takeaways
- “We talk about the commercial engine all the time – every day,” said Garine Ferejian-Mayo, chief commercial officer of Sonesta International. “How do we drive the bottom line, and how do we move fast? Speed to market is critical, and we’re very curious about AI. As an industry, I feel like we’re just scratching the surface of its potential, and there’s so much more opportunity ahead;”
- Sebastien Leitner, Vice President of Partnerships at Cloudbeds, added, “Our goal with hotel customers is to unify traditionally siloed functions – revenue management, digital marketing, and guest experience – into one AI-powered solution. This allows customers to make real-time decisions by harnessing the power of artificial intelligence;”
- Executives emphasized the importance of a test-and-learn approach, highlighting how data is driving smarter decisions by leveraging market signals from sources such as social media and the broader travel ecosystem.
Watch the video at PhocusWire
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