On Thursday 20th May 2021, MRK Associates hosted an online Revenue Management webinar discussing “Do you have the right data to make your revenue management decisions?”.
We were joined by the well-renowned, Paula Frey, ex-Group Director of Revenue for Corinthia Hotels, along with Sara McKinven Höök (ex-Corinthia and Ennismore), who researched the range of current revenue management systems in the market to assess how they compare and their capabilities for different organisations.
Over the next 12 months, one of the key questions businesses in the hospitality sector including hotel, travel, entertainment, events and food & beverage need to ask themselves is “How effectively do we use big data analytics when implementing revenue strategies to continually grow our revenue?” This question will only become more important as markets recover and the industry looks to maximise revenues and opportunities.
Paula and Sara discussed the different revenue management systems in the market and explored their capabilities. They then went on to answer a number of questions from participants ranging from ‘the top valuable reports revenue managers should be using’ to ‘systems to measure other revenue streams such as M&E, F&B or Spa’.
The webinar was well attended by professionals across the sector from experienced Directors of Revenue interested in hearing an unbiased synopsis of market systems and relevance of key reporting through to newer Revenue Analysts looking to develop their understanding of what is happening in the market and what information is critical for success in the sector.
MRK Managing Director, Roland Seddon shared his gratitude “my thanks go out to Paula and Sara for the time and effort they took in researching and preparing for this presentation.
The attendees were able to hear the results of our questionnaire which highlighted the top 5 aspired to reports the industry considered the most important for Revenue Managers, the reality of which reports were actually available and the shocking figures outlining the lack of tech stack in the industry.
An informative and interesting event showing there is a lot of investment still needed in the sector”.
If you missed the webinar and would like to watch it, you can do so on our YouTube channel here.
You can also download the PointPoint presentation from the event here.
Follow us on LinkedIn to keep up to date with other industry events.