Revenue management professionals have been complaining about several activities in our roles for years, but have yet to make progress in either improving or eliminating them. Maybe this is because our stakeholders are slow to adapt, don’t truly understand what we do, and are resistant to change. Perhaps it is because of apathy on our part. We are annoyed when we must do them, but not annoyed enough to fix them. Regardless of the why, there’s one fundamental truth: These activities are wasting time – time we should be spending driving value for the organization. We must stop complaining and take the time to finally fix them.
Here are five revenue management activities that we think need to die. These activities have not only outlived their strategic value, but they also have not evolved with today’s technology. Most importantly, they are the biggest time sucks that keep you from effectively and efficiently driving revenue for your property.
You may not agree that these are the activities that most need to die, but we are sure you have a similar list of activities you would like to see go away. Even if you can’t (or you don’t want to) address these, our challenge to you is to think through your day-to-day, figure out what is not adding value, and make a plan to get these items off your plate. We have a framework to do this called DARE: delegate (what doesn’t belong in your department), automate (any repetitive activity that you can), reduce (non revenue generating activities), and eliminate (non-productive stakeholder interactions).
READ THE FULL ARTICLE BY MATTHEW GUGLIELMETTI & DR. KELLY MCGUIRE IN THE 2023 SUMMER EDITION OF GAMING & LEISURE MAGAZINE.