Competent revenue managers should be not only able to use data analytics to predict customer behavior and proactively formulate RM and pricing strategy, but they should also possess the necessary communication, decision-making and leadership skills required to help companies to maximize revenue. The list of corporates taking part in the Orlando RevMe workshop was impressive: Disney; SeaWorld Parks; IDeaS Revenue Solutions; Delaware North; STR; and Hard Rock International. Among the items on the agenda: dynamic pricing; bridging the gap between technology and people; and education, skills and behavioral traits that make great revenue managers. Today’s RM practice is evolving from the traditional rooms-revenue model towards a total revenue management approach. Under the traditional model, hotel revenue management has focused largely on rooms. However, revenue management principles can be applied to operational areas beyond just rooms. At its core, total hotel revenue management brings together and optimizes all revenue streams, as opposed to thinking of each department separately. Thus, a more holistic approach to revenue management is needed to identify revenue-generating opportunities, and optimize revenue and profit generation. Get the full story at Hospitality.Net