“El reto actual de las estrategias del Revenue Management” (The current challenge of revenue management strategies) is the title of a new webinar by the School of Tourism and Hospitality Management Sant Ignasi (URL) and Tal3ntia consulting firm. Offered in early May, it was aimed at Andorran hoteliers.
Olga Cherepanova, professor of Revenue Management and Electronic Distribution at HTSI, offered an overview of Revenue Management (RM). Cherepanova explained its objectives, in addition to the cycle and the phases in the collection and analysis of data.
In addition, the professor explained the current situation in the hotel market and the RM strategy for the recovery period after the state of alarm. At times of crisis like the present, revenue managers play a key role by analysing data and information and transforming it into opportunities.
In March, RevPAR in Europe dropped to never-before-seen levels, -89.4% as compared to 2019. Taking this into account, Cherepanova reviewed different strategies used by hotel RM departments. She also discussed different initiatives used to reopen establishments, such as costs, employees, hygiene, communication or security.
Saúl Larrayad, CEO of the HR and training consulting firm Tal3ntia, told the Andorran hoteliers about the role and key skills of a revenue manager: critical thinking, managing risk and error, effective communication and receptiveness, team management, leadership and autonomy.
Together with Tal3ntia, the School of Tourism and Hospitality Management Sant Ignasi established a series of specific training initiatives with the Andorran market to provide quality training for tourism, hospitality and retail professionals.
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