Rigorous Revenue Management: AI Tech Tools Take Pricing and Forecasting Accuracy to the Next Level
Revenue management in the hotel industry has become a science over the last few years with pricing strategies that increasingly factor in supply/demand fluctuations and the development of automated revenue management systems (RMSs). The progress has resulted in a rate adjustment approach that is both more efficient and highly personalized, based on multiple data sources from guest demographics to current market conditions. When it comes to selecting an RMS, some hoteliers still opt for a […]
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