“A bird in the hand is worth two in the bush.” This wise saying has stood the test of time for a good reason, it cautions the greedy among us to value what they already have rather than chase after something with higher value but more risk.
The cautious and even not-so-cautious among hotel marketers have likely heeded this statement throughout the last year and a half as demand for hotel rooms has ebbed and flowed in a confounding pattern.
The predictable travel behaviors of the past are no longer, and hotel marketers have formed a habit of attracting the bookings that they can in the short term in case something changes in the future for the worse. As a result, traditional revenue management strategies have fallen by the wayside.
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