All posts in Revenue Optimization

22
Oct

Five Experiences Shared by the Best Business Analysts

Categories: Analytics, Data, Decision Science, Finance, Revenue Optimization
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by chiefowl

The traditional career path for most business analysts is to start in Accounting or Finance and then jump into a managerial role. While this may be the most efficient process for sourcing quantitative talent, it is not necessarily the most effective. Many companies are beginning to realize that the benefit of having great Analysts is in creating value and wealth rather than in creating reports. For the latter you just need to learn some technical skills, but for the former you need to be exposed to experiences Read more

28
Dec

Free Coffee with Cream, no Analytics

Categories: Analytics, Data, Food and Beverage, Guest Analytics, Marketing, Restaurant, Revenue Optimization
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by chiefowl

Today is a great day. It’s great because I unexpectedly got a free cup of coffee from a multinational corporation and, at least during this transaction, I gave them nothing in return, except maybe, some discouraging data. Here’s the story of my $2 coup in a cup: My father and I decided to take my two young boys to the park to drain some of their energy (if that’s possible). On the way, I asked my father to stop at Read more

21
Oct

7 Star Wars Jedi Lessons for Analysts

Categories: Analytics, Comp Set Anaysis, Data, Food and Beverage, Guest Analytics, Hotel Analytics, Hotel Revenue Discovery, Marketing, Revenue Optimization, Strategic Planning
Comments: 1
by Robert Hernandez

With the release of the Star Wars: The Force Awakens official trailer a couple of days ago, the countdown officially begins to the biggest movie event of the year.  I proudly join the millions of geeks who can’t wait for December 18th.  As I retrieve my old Star Wars figures from the attic, I am reminded of the cross-generational wisdom that has been delivered by this great franchise throughout its 38 year run.  More important, I now even recognize the Read more

19
Dec

How to Become a 5-Tool Hotel Revenue Manager

Categories: Analytics, Hotel Analytics, Revenue Optimization
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by Robert Hernandez

In baseball, a 5-Tool player is one that excels at the skills of throwing, catching, running, hitting for power, and hitting for average. While they are rare, these players are considered the top athletes in the game and therefore command the highest salaries.  In Revenue Management the same is true for the most aggressively recruited and highest paid RMs.  They are the ones that have the perfect combination of skills which allow them to take any hotel company’s RM function Read more

27
Aug

Why Hoteliers Should Not Worry About Big Data

Categories: Analytics, Big Data, Data, General Management, Hotel Analytics, Revenue Optimization
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by Robert Hernandez

If you are a hotelier, you should worry about Big Data about as much as you worry about missile defense.  That’s because the chance of you working on either is slim to none.  Sure, you should be informed about the subject, and be able to speak intelligently about how it will change the traveler experience, but always be conscious of the fact that property level hotel data is not Big Data.  Understanding what Big Data is and what it is not will Read more

12
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