Left Brain, Right Brain: The Hotel Revenue Management Skill Set

A few good hotel revenue management experts are born for this role, but that doesn’t mean they can’t also be made. While the following list of revenue manager traits might seem long and intimidating, keep in mind no one person embodies all these qualities. Also, any skill can be strengthened with proper training. It could be argued that the most important trait of a hotel revenue manager is an ability to work both sides of the brain.

 

Left Brain Skills

  • Economic Guru—An ability to stay updated and understand what’s happening not only in the hospitality industry, but the economy as a whole.
  • Math Wizard—Must be able to translate all that economic data into useable numbers that apply to your hotel.
  • Tech Geek—Should know spreadsheets inside and out, effectively navigate online hotel distribution channels, understand the principles of e-commerce, and choose the right hotel revenue management system for your hotel.

 

Right Brain Skills

  • Chess Master—Be able to re-evaluate the data in front of him or her to plan five moves ahead, and adjust as needed.
  • Great Communicator—Once a strategy is developed, he or she must be able to sell that plan to coworkers, managers, and possible hotel owners. This takes people skills and the ability to stay cool under pressure.
  • Spirit of Adventure—While hotel revenue management requires the ability to analyze and make sense of data—lots of data—it also requires the courage to make decisions based on that data and to sometimes take a leap of faith. And, of course, be able to critically analyze the change in data resulting from that leap.
  • Voracious Reader—A good candidate for the job should have subscriptions to financial, economic, and hospitality industry publications; online blogs; and newsletters.
  • Right Attitude—The drive to keep going onward and upward in terms of definable goals and skill level is necessary.

 

Smart eHotels™ has the right stuff to enhance your hotel revenue management strategy. Contact us today!

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