At the 2024 Hotel Data Conference in Nashville, Otelier Chief Product Officer Niki Johnson joined experts from Sage Hospitality Group, Ashford, and Mint House to discuss the change management process from revenue management to profit management.Â
According to coverage of the event in Hotel News Now, much of the discussion centered on the expansion of the revenue strategy discipline to include ancillary revenue sources, such as F&B and spa, and then measuring the flow-through of revenue to the bottom line in each department.Â
Priya Chandnani, senior vice president of sales, revenue and distribution strategy at Sage Hospitality Group, told the audience that being courageous in this discipline means looking outside of room revenue management and taking advantage of additional on-property channels.Â
“Hotels are not just rooms,” she said. “There’s food and beverage. There’s spa. There’s cabanas. There’s tents. There’s all of this opportunity out there that we can continue to leverage, and it really is coming out of our comfort zone and trying new things.”Â
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