The rise of mobile channels and the always-connected consumer, who makes purchasing decisions based on price, has put greater pressure on the travel and hospitality industry to find a balance between competitive advantage and profitability. It’s more crucial than ever for these companies to employ innovative price optimization, demand forecasting and revenue management solutions to stay relevant while achieving that balance without impacting customer relations and retention.
This September, thousands of hotel and hospitality professionals will converge at Caesars Palace Las Vegas Hotel & Casino for EyeforTravel’s Travel Distribution Summit North America 2012 (@eyefortravel). JDA customer Frederic Deschamps of Carlson Rezidor Hotel Group will join me at the event to share cutting edge trends and best practices in pricing and revenue management. Now in its 13th year, EyeforTravel’s Travel Distribution Summit brings together leading global hotels, airlines, OTAs, GDS, cruises, destinations and travel technology companies from across North America for two days of best-practice strategies, cutting-edge trends and vigorous debate. JDA is an official sponsor of the summit and will be at Booth #17,/strong>. For more information on the event, click here.
I will be participating in two sessions at the event. I will conduct a workshop entitled Optimization Masterclass: Differentiating Yieldable and Priceable Revenue Management scheduled for 12:30 p.m. PDT on Thursday, Sept. 13. In the workshop, I will explore how the emergence of advanced price elasticity models and readily available comp-set price shop data has driven the shift from a “yieldable” to a “priceable” approach.
That same day, I will be participating in a revenue management panel at 2:45 p.m. PDT, entitled On The Other Hand: How to Increase Revenue by Rate Alone. The panel will discuss how to get the right balance between competitive advantage and real profit increase, debate how to do this without impacting customer relations and retention, and take a closer look at group pricing and meeting space optimization for hotels, venues and destinations.
In addition, Fred Deschamps will lead the keynote panel titled Clash of the Titans, scheduled for 11:00 a.m. PDT on Thursday, Sept. 13. Deschamps will join other hospitality experts to address the industry’s dominant challenges and outlook. Panelists will explore future disruptive technologies, innovative practices and trends that will shape the future of revenue management.
These sessions promise to be full of new ideas, tips and insights to help travel and hospitality organizations leverage price optimization, demand forecasting and revenue management solutions to increase profits and beat the competition. We hope to see you there! Be sure to follow the event hashtag #eftamerica for the latest updates.
To hear more about how Carlson Rezidor Hotel Group approaches revenue optimization, watch this video interview from FOCUS 2012.