You are the VP of RM for a 10-unit hotel management company. Your company has contracts with various hotel owners to operate the hotels. The properties are flagged with brand managed by three different franchisors: Marriott, Hilton, and Choice.
You’ve been approached by a salesperson for Revenue Concepts, Inc., a company that has developed revenue optimization software that it promises will:
Accurately forecast business demand
Manage room inventory
Improve control over group business
Determine the correct pricing for hotel rooms
Manage and control distribution channels
What are some communication issues related to revenue management should you address if you decide to sign a contract with Revenue Concepts, Inc.?
What training and support issues would you demand from Revenue Concepts, Inc.?
Are there pricing philosophy-related issues you feel would be important to discuss?
Also include a summary of this activity.