Seeking a new generation of revenue managers
What the revenue management discipline needs today is a hybrid version of the first and second generations, combined with extraordinary leadership skills, a genuine thirst for new knowledge and ample interest in digital marketing trends, results and consumer buying behavior.
By Bonnie Buckhiester
We created the first generation of revenue managers in what seems like a billion years ago. These individuals were often reservation supervisors or managers artificially extracted from their reservation environments (or simply handed the additional workload) and given the title of revenue manager. Some succeeded, but many did not.
We learned over time the traits of a good reservations manager were not the needed traits of a good revenue manager. At the risk of oversimplifying things, the customer-service focus of a good reservations manager often lacked the analytical, number-crunching zeal required of a good revenue manager. Hence, the first generation of revenue managers was born.