The pyramid or hierarchy of Revenue Management Needs
In 1943, psychologist Abraham Maslow established a model describing the hierarchy of human needs, ordering them accordingly. This accurate and popular model fits perfectly into the business world and our hotel industry. We can extrapolate the same idea by placing the...
Interview: The future of AI in RMS
Revenue Management Systems have become one of the most vital tools for hotel revenue departments because of how much they can facilitate data management, allowing for better decision making. Now, thanks to the imminent advancement of Artificial Intelligence (AI), RMSs...
The Revolution of Artificial Intelligence in Revenue Management
The main pillar of Revenue Management is demand forecasting. Anticipate the events certainty reduces uncertainty and allows us to establish strategies that help generate additional revenue. Without accurate demand prediction models supporting our strategies, we would...