Next one up of the throwback of The Revenuemanager - Summit Series, episode number four. This episode was sponsored by IDeaS, a SAS company.

Digna M. Kolar
Director, Industry Consulting at IDeaS, Pablo Zambrano, Corporate Director Revenue Management at Decameron All Inclusive Hotels & Resorts, and Lluís Sabaté, Head of Revenue Management & Commercial Strategy at Sercotel Hotel Group joined moderator Scott Dahl, SVP Sales, Marketing, & Revenue Management at The Wurzak Hotel Group to discuss, share thoughts and perspectives on how to build your pricing strategy in today's reality.

While previously we have relied primarily on historical data, the pandemic has shown us that we need to look forward and change the way we work and how we price guest rooms and other products. Which are the considerations hoteliers need to follow in this transformed reality?

Though there has been continual evolution over the last two decades in the way hoteliers monetize the power of data to make pricing and strategy decisions, one constant remained: The dependence on historical data. Then along came COVID-19 and its impact on travel created historical comparisons that were so distorted that they were meaningless in the old decision-making process.

But the worst is behind us, travel is returning and many markets are already performing at or above their 2019 pre-pandemic level. A lot has happened. Revenue Managers who survived the last two years, mostly by trial and error, have emerged much stronger. Top revenue management system providers have adjusted their algorithms. The traditional year-over-year comparison has been replaced by more flexible models, including the widespread use of 2019 as a baseline for performance. And much more.

So now that the smoke has cleared and most agree a "new normal" is here, what are the key tools and processes that should be standard in every hotelier's post-pandemic revenue optimization toolbox?

The Revenuemanager Summit Series were co-produced in collaboration with FunnelTV The Traveltech Channel.

About IDeaS

IDeaS, a SAS company, is the world's leading provider of revenue management software and services. With over 30 years of expertise, IDeaS delivers revenue science to more than 18,000 clients in 145 countries. Combining industry knowledge with innovative, data-analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated decisions they can trust. Results delivered. Revenue transformed. Discover greater profitability at ideas.com.