---
title: Hospitality (2)
description: View the latest resources from Revenue Analytics. (2)
---
- [ Hospitality ](https://www.revenueanalytics.com/hospitality/n2pricing?hsLang=en)
- [ Manufacturing & Distribution ](https://www.revenueanalytics.com/md/pricing-as-a-service?hsLang=en)
- [ Private Equity ](https://www.revenueanalytics.com/md/pricing-as-a-service?hsLang=en)
- [ Media ](https://www.revenueanalytics.com/media/rateoptics?hsLang=en)
- [ Passenger Rail ](https://www.revenueanalytics.com/rail/farevantage?hsLang=en)
[
#### N2Pricing™
The above-property RMS.
](https://4864103.hs-sites.com/hospitality/n2pricing?hsLang=en)
[
Hotelier Gets the Pricing Power it Needs to Beat the Competition
](https://4864103.hs-sites.com/hubfs/Case_Study_Hotelier_Gets_the_Pricing_Power_it_Needs_to_Beat_the_Competition.pdf?hsLang=en)
[
#### Pricing-as-a-Service™
Profitable pricing decisions at scale.
](https://4864103.hs-sites.com/md/pricing-as-a-service?hsLang=en)
[
Packaging Giant Slashes Deal Cycle Time 69% & Boosts Margin 4%
](https://4864103.hs-sites.com/hubfs/Case%20Stories/PAPA/Packaging%20Giant%20Uses%20Price+%20to%20Slash%20Deal%20Cycle%20Time.pdf?hsLang=en)
[
#### Pricing-as-a-Service™
Precision pricing for industrial portfolio companies.
](https://4864103.hs-sites.com/md/pricing-as-a-service?hsLang=en)
[
Does Your Portco Have a Pricing Problem?
](https://www.revenueanalytics.com/resources/pe/does-your-portco-have-a-pricing-problem?hsLang=en)
[
#### RateOptics™
Modern ad pricing and sales analytics.
](https://4864103.hs-sites.com/media/rateoptics?hsLang=en)
[
Sales Managers Get Their Valuable Time Back at Top Radio Broadcaster
](https://4864103.hs-sites.com/hubfs/Case_Study_Sales_Managers_Get_Their_Valuable_Time_Back_at_Top_Radio_Broadcaster.pdf?hsLang=en)
[
#### FareVantage™
Next-gen Revenue Management for Passenger Rail.
](https://4864103.hs-sites.com/rail/farevantage?hsLang=en)
[
Rail Operator Exceeds Revenue Goals and Lofty Customer Expectations
](https://4864103.hs-sites.com/hubfs/Case_Study_Rail_Operator_Exceeds_Revenue_Goals_and_Lofty_Customer_Expectations.pdf?hsLang=en)
Fresh from HSMAI > *The New RMS: A Buying Guide.* [Download here](https://4864103.hs-sites.com/hospitality/resources/hsmai-buying-guide-the-new-rms?utm_source=announcement_bar&utm_medium=product_page&utm_campaign=hospitality&hsLang=en)
## [N2Pricing RMS + SPI Software: Partnering to Empower Timeshare Companies](https://4864103.hs-sites.com/hospitality/blog/n2pricing-spi-timeshare-partnership?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on May 22, 2024 4:43:13 PM
We are thrilled to announce a strategic alliance with SPI Software, the global leader in providing software and technology solutions to the vacation ownership industry! This collaboration brings together SPI's industry-leading vacation ownership platform with Revenue Analytics’ [N2Pricing™ RMS](https://4864103.hs-sites.com/hospitality/n2pricing?hsLang=en), empowering resorts to achieve unprecedented levels of revenue optimization through advanced pricing and forecasting capabilities.
"SPI Software has always been at the forefront of innovation in the vacation ownership industry," said Gordon McClendon, CEO of SPI Software. "By integrating Revenue Analytics' cutting-edge technology into our platform, we are equipping our clients with the most powerful tools available to maximize their revenue potential."
Resorts utilizing N2Pricing have seen significant increases in revenue, with reported gains exceeding 20%. The solution leverages artificial intelligence and machine learning to analyze vast amounts of data, including historical booking trends, market conditions, and competitor pricing. This deep understanding allows resorts to dynamically adjust pricing strategies in real-time, ensuring they capture optimal revenue for every unit, every day.
The integration between SPI's platform and N2Pricing will be seamless and intuitive for resort operators. N2Pricing’s capabilities will leverage a two-way data integration with the SPI platform, streamlining the revenue management process. This new feature is in addition to several significant new features added to SPI Software over the last year and builds on the company's relentless commitment to innovate and enhance its products and services.
- **Increased Revenue:** Dynamic pricing strategies based on real-time data analysis lead to maximized revenue capture.
- **Improved Efficiency:** Streamlined workflows and automated tasks save time and resources.
- **Enhanced Guest Experience**: Optimized pricing ensures fair and competitive rates, leading to guest satisfaction.
- **Data-Driven Decisions:** insights empower informed decision-making across the organization.
"We are thrilled to partner with SPI Software, a renowned leader in the vacation ownership space," said James Harris, Vice President of Business Development with Revenue Analytics. "By combining our expertise, we are confident that we can deliver transformative results for resorts and elevate the industry as a whole."
To learn more about this one-of-a-kind integration and how it could benefit your Timeshare properties, [grab some time with a member of the N2Pricing team.](https://4864103.hs-sites.com/hospitality/n2pricing-timeshare-resources?hsLang=en)
To view the original press release in full, [click here.](https://tech.einnews.com/amp/pr_news/688953364/spi-software-announces-strategic-alliance-with-revenue-analytics-to-revolutionize-vacation-ownership-revenue-management?utm_campaign=hosp_timeshare&utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz--psrSs0aU0cROB4u7b_B-TwTqCvcPdN959H-8kYKjbtsRRj952B1Y6OL7uEBpDRGr4sZ90)
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## [A Day in the Life with N2Pricing™ RMS: Prioritize Revenue Opportunities with Ease](https://4864103.hs-sites.com/hospitality/blog/n2pricing-rms-day-in-the-life?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on May 13, 2024 7:45:14 PM
Are you one of the many revenue management teams that have shifted to an above-property approach? Above-property revenue management describes teams that work from a centralized office (or perhaps remotely) and support multiple properties, rather than working from and supporting one designated hotel. If you answered yes – this is for you.
At Revenue Analytics, we pride ourselves on having created the first revenue management system built specifically for above-property revenue management: [N2Pricing RMS](https://4864103.hs-sites.com/hospitality/n2pricing?hsLang=en). Instead of a legacy system designed to support a single property and retrofitted to manage a portfolio of properties, it was built top-to-bottom with the unique needs of above-property revenue managers in mind.
You may be thinking: that’s easy to say, but what does it really mean in practice? How would it tangibly impact your team’s day-to-day, or your company’s bottom line?
Our ultimate goal – beyond boosting profit and efficiency for your business – is to take your day from:
Less time spent working pricing for each hotel in your portfolio every day, and more time spent focusing on strategic activities – the fun, important stuff where you can really make an impact. But don’t just take our word for it – let us walk you through a day in the life with N2Pricing.
## A Day in the Life
Take it from the top (literally)
Picture this: it’s a Monday morning. You sit down at your desk with a freshly brewed cup of coffee (or maybe a hot tea, or a Red Bull – pick your poison), and you log on to your computer. After doing a cursory check through your emails and sending those “Good morning!” messages on Teams, you fire up your RMS.
And… then what?
As a revenue manager tasked with overseeing a portfolio of properties, knowing where to start can be a daunting task. Do you select one hotel from your portfolio of properties, and start working pricing changes sequentially? When you’ve made it through a certain stretch of days there, do you move on to the next hotel?
If you’re working with a legacy RMS built to support on-property Directors of Revenue Management (DORMs), that’s likely exactly what you’re doing. And if you only had one hotel to manage – like those on-property DORMs – that would be just fine. But in today’s environment, the average revenue manager has 11 properties in their portfolio, and this way of working is both unscalable and unsustainable.
So, let’s try this again.
You sit down at your desk. You take a fortifying sip of coffee. You open up N2Pricing.
And then, quite simply, you take it from the top.
N2Pricing’s core workspace is a prioritized list of revenue opportunities that encompasses every hotel in your portfolio for the next 365 days. This list is both location and date-agnostic and is instead sorted by the* size* of the revenue opportunity. You guessed it: the biggest ones are at the top, so that’s where you should start, working your way down.
What exactly do we mean by “revenue opportunity?” A revenue opportunity is the gap between how much money you would make if you did what the system is suggesting versus if you kept the price where it’s currently set. It’s a monetary value attached to the optimal recommendation provided by the system, and, in short, is where you can have the biggest revenue impact.
So, you’ll start at the top of the list, reviewing the recommendations N2 has put forth, knowing that these are a valuable place for you to spend your time because they will directly impact your bottom line. You can review each recommended change as well as the context around it, and then choose whether or not to accept it.
This dashboard is designed to show you exactly where to spend your energy – on intuitive, quick, and impactful work – so you can move on with your day.
Managing by Exception
N2Pricing allows each user to set automation thresholds at levels they are comfortable with – plus or minus 10%, for example. This means that if you set a price for a given property and day, and then N2 works its magic and realizes that you’d capture more revenue if you increased that price, that update will run automatically if it is within the 10% increase threshold. You will only be asked to review a suggested price change if it falls outside the bounds of the threshold you’ve set. If N2 is suggesting a price increase of 13%, it will show up in the dashboard shown above for your review.
This is exceptions management: where manually reviewing a price change becomes the* exception*, not the *rule*, thanks to automation.
While N2 relies heavily on automation, it’s automation that is built to enhance the user’s abilities, not replace them. Users are fully in control of their own automation levels, and they can change them over time as they become more comfortable – no all-or-nothing automation here. N2’s goal is to free the user up from certain manual, repetitive tasks so that they are free to use their expertise to focus on more strategic activities.
### Not to be dramatic, but we want to change your life
Revenue managers are an absolutely critical part of any successful hospitality organization. But in order to perform to the best of their ability, they need the right tools – including technology that is built to support the way their business and team is structured.
Our goal is to empower above-property revenue managers to efficiently and confidently manage their portfolio of properties with ease. But beyond that, we want to make their day-to-day better. We want to free them up from manual, repetitive tasks, give them a seat at the commercial strategy table, and enable them to have improved work/life balance.
Ready to** **take N2Pricing for a spin and see how it could work for your unique portfolio of properties? We’d love to walk you through it, and to share the success that other above-property teams have found using this one-of-a-kind tool. [Set up a 1:1 with an N2Pricing expert today.](https://4864103.hs-sites.com/hospitality/above-property?hsLang=en)
We covered the day-to-day here, but we know a revenue team’s job is even bigger than that. To see how N2 supports revenue managers in bigger-picture activities beyond the daily to-do’s, check out part 2 in this series – [N2Pricing™ RMS: Beyond the Day-to-Day.](https://4864103.hs-sites.com/hospitality/blog/n2pricing-beyond-day-to-day?hsLang=en)
Or, for a better understanding of our driving principles – and what’s really in it for you and your team – skip to part 3: [N2Pricing RMS: Behind the “Why” ](https://4864103.hs-sites.com/hospitality/blog/n2pricing-behind-the-why?hsLang=en)
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## [The Hidden Impacts of Investing in the Right Tech](https://4864103.hs-sites.com/hospitality/blog/hidden-impacts-of-tech?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on Apr 9, 2024 5:23:11 PM
There are many obvious reasons for wanting to invest in the “right” technology: from wanting to stay competitive, to maximizing your ROI, to simply making your life easier. But for hoteliers and revenue leaders, defining what solution is the best fit for their business is more critical than ever before – particularly as more and more hoteliers shift to an above-property revenue management strategy.
### What does “the right tech” really mean?
When we talk about the “right” technology, we mean fit for purpose technology that is built to support and enhance the way you do business. The technology should adapt to fit your needs, rather than boxing you in to a certain way of working. It should make your employees’ day-to-day work easier while positively impacting key KPIs. Plus, the technology should be provided by a partner that understands not only the hospitality industry at large, but also the unique complexities of your specific portfolio of properties.
Hospitality and revenue management teams are not one-size-fits-all, and their technology shouldn’t be either. But the stakes for having the right tech are higher and more far-reaching than you may imagine, especially for teams that have made (or are making) the shift to above-property revenue management.
### Far-reaching implications
Beyond the obvious reasons for wanting to partner with the right vendor and invest in the right tech, we’ve identified 3 key (potentially surprising) areas that are greatly affected by the systems you have in place.
1. Employee development and retention. Hospitality leaders know that [navigating the current labor market](https://4864103.hs-sites.com/hospitality/blog/-navigating-labor-challenges?hsLang=en) is more difficult than ever before. It’s hard enough to source good talent; developing and retaining them is even more challenging. Leaders are responsible for setting their employees up for success, which includes continued growth and chances for upward mobility within their role, in addition to making their day-to-day as productive and painless as possible. Making sure they can successfully navigate the ever-evolving digital landscape and having the right tools in place to foster this environment is a necessity. From [HSMAI’s 2023-2024 Special Report on The State of Hotel Sales, Marketing, and Revenue Optimization Talent:](https://global.hsmai.org/hsmai-foundation-special-report-the-state-of-hotel-sales-marketing-and-revenue-optimization-talent-2023-2024/)
> **“As technology transforms every aspect of the hospitality industry, from revenue management to asset management, employees must adapt. However, expecting employees to navigate this journey alone is unrealistic. Organizations must take the initiative to systematically identify their employees’ skills and actively train and nurture their growth.”**
Additionally, implementing technology that frees employees from manual, repetitive tasks, and instead lets them focus on more strategic and meaningful work, increases fulfillment and has a positive impact on long-term retention.
2. **Fostering collaboration and commercial strategy.** As more hoteliers shift to an above-property management model, effective communication between on-property and centralized teams is paramount. Leaders should foster an environment that encourages collaboration across cross-functional teams, including revenue management, sales, marketing, and more (HSMAI 2023-2024 Special Report). The right systems should enable – not hinder – that communication. Seek out technology that identifies and measures key, shared KPIs at both the property and portfolio levels.
3. The adoption of AI. You’ve heard it time and time again: if you don’t adopt AI, you’re going to fall behind. But what does that actually look like as it relates to your specific business and team? It doesn’t have to mean using a standalone AI tool (like asking your team to use ChatGPT to enhance their communications and output). Instead, look for partners and solutions that seamlessly integrate AI into their existing application to enhance its capabilities, productivity, and accuracy. This is especially important for revenue management systems (RMSs), where an accurate demand forecast, plus the ability to scale processes across a large portfolio of properties, is critical for above-property teams. Per [HSMAI’s 2023-2024 Special Report on the State of Talent:](https://global.hsmai.org/hsmai-foundation-special-report-the-state-of-hotel-sales-marketing-and-revenue-optimization-talent-2023-2024/)
> **“AI significantly enhances revenue management in the hospitality industry by utilizing predictive modeling to analyze historical data and predict future demand and revenue. It helps revenue management teams optimize pricing and availability to maximize revenue, helping set dynamic pricing based on demand, occupancy, and other factors, thereby increasing occupancy rates and room rates.”**
Your RMS’s ability to effectively incorporate AI into its forecast model ultimately has an impact on your bottom line. Make sure you understand how your current or potential partner is utilizing this important tool, and if it’s the right fit for your business.
### A path forward
The right technology is critical for not only developing and retaining talent (in an environment where skilled talent is increasingly scarce), but also for enabling collaboration between teams during the shift to an above-property business model. Having the right systems in place is a lifeline in navigating talent challenges, staying competitive, and driving success in the hospitality industry.
Auditing your current systems, as well as any potential new partners, to ensure they meet the specific requirements of your unique business model can maximize the return on your investment in more ways than one. If you are among the hoteliers who are operating in an above-property environment and are feeling the effects of legacy technology that wasn’t built to support your business model, it’s time to take a look at your tech stack.
Our team has years of experience navigating unique business challenges for hoteliers and can help you determine if your tech – particularly your RMS – is built to properly support your business. [We’d love to connect with you.](https://4864103.hs-sites.com/demo/n2pricing?hsLang=en)
And for more free revenue management and above-property resources, [click here.](https://4864103.hs-sites.com/hospitality/above-property?hsLang=en)
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## [Timeshare Inventory Forecast from N2Pricing™ RMS](https://4864103.hs-sites.com/hospitality/blog/n2pricing-timeshare-inventory-forecast?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on Apr 5, 2024 11:31:00 AM
It’s a well-known fact that the Timeshare industry is unique and complex. Unlike traditional hotel business models, the Timeshare market must navigate variable inventory availability and unpredictable booking patterns. As a result, most legacy forecasting models and revenue management systems (RMSs) have been unequipped to support Timeshare, leaving revenue and Rental teams to manage things manually.
[The N2Pricing team has an innovative solution for Rental teams](https://4864103.hs-sites.com/hospitality/blog/the-only-timeshare-rms?hsLang=en), creatively solving for the variable capacity problem and producing an accurate and reliable demand forecast. More than 200 properties are already utilizing this solution, and the ROI is far exceeding expectations! We are proud to be the only RMS with a forecast built specifically for Timeshare – but we aren’t stopping there.
We’re excited to share another new solution from N2Pricing that supports Rental and Inventory teams even further by determining what amount of inventory to allocate to rental.
## Let’s take it from the top
N2Pricing’s current Timeshare solution produces a percentage-based demand forecast based on the amount of inventory that’s available. While this is a huge time-saver (and profit booster) for Rental teams, it requires them (or their Inventory team counterparts) to set the amount of available inventory in the system before the forecast can run. This is a tricky process; determining available rental capacity requires an understanding of owner usage at any given time, which is highly variable and unpredictable. Plus, Inventory teams are often conservative in the amount that they allocate to rental, as they are Timeshare-first companies and need to protect inventory for owners.
Never one to shy away from a challenge, the N2Pricing team set out to find a way to forecast not only demand, but also available rental capacity. By treating owners as the primary customers, looking at the total universe of available rooms, and analyzing their booking curves, the N2 team has successfully produced a Timeshare Inventory Forecast!
The ability to set parameters that fit your specific business requirements is an integral part of N2Pricing, and we’ve built in that same capability for Timeshare properties. We’ll accommodate whatever unique business constraints you may have – like No-Use Rights, out-of-order rooms, or prior knowledge that you can rent out a unit – when building out the rental allocation forecast.
## Wholistic support for Timeshare properties
Our goal is to provide end-to-end support for Timeshare companies. The introduction of the Timeshare Inventory Forecast will be a huge time-saver for inventory teams and will flow seamlessly into N2Pricing’s demand forecast. The result? Both Inventory and Rental teams will get to enjoy the benefit of sophisticated analytics and automated processes that will save them time while boosting profit.
We’re excited to announce that the Timeshare Inventory Forecast is officially live in production and ready to deliver value to Timeshare organizations!
[Grab some time with an expert on our team](https://4864103.hs-sites.com/hospitality/n2pricing-timeshare-resources?hsLang=en) to see these unique Timeshare solutions yourself and join the more than 200 vacation rental properties that are already seeing higher profits with N2Pricing.
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## [Timeshare Revenue Revolution: A Fresh Approach to Forecasting](https://4864103.hs-sites.com/hospitality/blog/the-only-timeshare-rms?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on Mar 5, 2024 3:44:51 PM
If you’re part of the timeshare market, you probably believe that revenue management systems (RMSs) – the kinds built to support traditional hotels and other property types and business models – won’t work for you.
And 2 years ago, you would have been right about that.
The timeshare market, while a popular offering for travelers, continues to be underserved by most technology providers. Virtually every RMS on the market isn’t equipped to support the unique needs of timeshare properties – with one notable exception. Read on as we break down the nuanced requirements of the timeshare market and the exciting solution [N2Pricing™ RMS](https://4864103.hs-sites.com/hospitality/n2pricing?hsLang=en) offers.
## Understanding the Problem
Timeshare properties offer two options for travelers:
1. Invest in a timeshare unit and utilize that specific space for a predetermined amount of time each year. (*Available to timeshare owners only*)
2. Rent any available unit during times when it’s not being utilized by the timeshare owners. (*Available to all travelers, including non-owners*)
It is the second option – where inventory is opened up to rental operations and can be booked similarly to a traditional hotel room – that we will focus on here.
### Variable Capacity
Timeshare properties are managed by a central team that is responsible for renting out available units that aren’t being used by owners at any given time. While that available inventory can be booked by customers similarly to a traditional hotel room, for the rental team, it’s not as simple as forecasting, pricing, and selling that inventory like a traditional hotel room. Why? *Variable capacity (or variable inventory). *
Timeshare owners utilize their units unpredictably. Even if they’re a fixed week owner, there’s no guarantee they will actually use their space during that time. For flexible ownership, there’s seasonality in the demand pattern, but usage at any given point in time is less predictable. Additionally, given the variability of when timeshare owners book their unit, booking curves end up looking very different from those of travelers booking a traditional hotel room. All of these factors combined make it difficult to predict how many units will be available to rent to the general public at any given time.
###  Why the “typical approach” won’t work
Traditional RMS forecasts use last year’s demand as a predictor for this year’s demand. It is a critical piece of the algorithm that allows the RMS to price the available rooms – and is precisely why legacy RMSs do not work for timeshare properties. Due to the unpredictability of available inventory and the inconsistency in owner booking patterns, there is no year-over-year pattern that can be established to predict rental usage, rendering a traditional forecast virtually useless. Even the typical trends in seasonality that we see in hotels do not apply to timeshare properties.
*What this means in practice is that the RMS is producing a forecast that is inherently flawed.* And since we know that an accurate forecast is the most critical component of an effective RMS, these systems are simply unequipped to support timeshare properties. They will consistently produce price recommendations that do not reflect the reality of rental demand vs. available inventory and will lead to volatile pricing.
## A solution tailored for timeshare
The unpredictable nature of timeshare inventory isn’t going to change. So, how do we make an RMS work for timeshare properties? The N2Pricing team uncovered a creative solution for the variable capacity problem that breaks traditional forecasting models.
### Percentage-based forecasting
Instead of taking a “same as last year” approach to forecasting, N2Pricing uses a percentage-based approach. Essentially, it makes space for the variability in inventory by looking at what percent of the available inventory you sold last year, as opposed to the specific number of rooms that you sold last year, to produce a forecast.
Having the demand forecast rely on the percentage sold, rather than on a fixed number of rooms, allows the variability in demand to be reflected without breaking the forecast. The result? A highly accurate forecast that appropriately reflects the reality of available inventory and expected demand. From there, this specially crafted forecast flows into the rest of N2Pricing’s workflow, allowing revenue managers to make pricing decisions with confidence.
This sophisticated solution is a game-changer for timeshare properties. No more drastically over- or under-estimating demand or failing to capture the market’s willingness to pay!
### Let us walk you through it
We’re proud to be the only RMS on the market that can effectively support timeshare properties. Our unique solution is already live at more than 200 properties and is exceeding the expected ROI!
We know that the timeshare market has been woefully underserved by legacy technology solutions. So, if this all sounds too good to be true – we get it. Our team would love to let you take a peek behind the curtain and walk you through the specifics of our timeshare solution, including our forecast that solves the variable capacity problem, and to get your feedback on it. If you still don’t think N2Pricing would work for your property, we’d love to learn from you and explore how we can make it even better.
Ready to see it for yourself? [Connect with an expert on the N2Pricing team today.](https://4864103.hs-sites.com/hospitality/n2pricing-timeshare-resources?hsLang=en)
PS: This is just the beginning of what we plan to build for timeshare properties. Keep an eye out for more timeshare-specific product developments, coming soon!
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## [Transform Your Organization & Ease Labor Concerns](https://4864103.hs-sites.com/hospitality/blog/-transform-your-organization?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on Feb 23, 2024 9:21:46 AM
If you are one of countless hospitality leaders struggling to recruit and retain good talent: we see you.
[](https://www.revenueanalytics.com/demo/n2pricing?hsLang=en)
The hospitality labor market is more challenging than ever.
Hiring good people is hard. Keeping them happy is hard. Training and developing new employees is *hard*.
But we promise you: there are ways to make it easier. Ways to attract talented professionals, to streamline the onboarding and training processes, and to keep employees happy and engaged.
And having the right technology partners is one critical piece of the puzzle.
The [N2Pricing™](https://4864103.hs-sites.com/hospitality/n2pricing?hsLang=en) team has years of experience helping industry leaders just like you navigate these challenges and find an easier, more sustainable path forward. We’d love to explore how we can help you and your business.
[Connect with an expert on our team today](https://4864103.hs-sites.com/demo/n2pricing?hsLang=en) to take the first step towards a brighter future.
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## [Navigating Labor Challenges: A Guide for Revenue Leaders](https://4864103.hs-sites.com/hospitality/blog/-navigating-labor-challenges?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on Feb 13, 2024 5:05:19 PM
The hospitality industry is an especially dynamic and varied one. But, across countless property types, business models, and markets served, there is a shared challenge most are currently facing: a major staffing problem. According to a[ recent article](https://hotelbusiness.com/ahla-67-of-surveyed-hotels-report-staffing-shortages/) by Hotel Business, 67% of surveyed hotels report labor shortages, highlighting the urgency of the situation. While the bulk of those numbers reflect in-hotel operations (for example, 48% of hotels report housekeeping as their most critical staffing need), the impact is also being felt by revenue leaders who are tasked with finding and retaining talent in an increasingly competitive environment.
There are industry-wide conversations to be had around things like higher wages and increased flexibility for employees. But as a leader, and as an individual, it can be difficult to identify what you personally can control to try to address the issue. We’ve identified a few areas that revenue leaders can prioritize to aid in recruiting, developing, and retaining good talent.
## A harsh reality
It's becoming increasingly difficult to recruit skilled individuals willing to join revenue management teams. And even when talent is found, the demands of the industry often lead to burnout, resulting in high turnover rates. Additionally, the complexity of revenue operations means that new hires require extensive training, adding another layer of complexity to the recruitment process.
But in the face of these challenges, revenue leaders must adopt a strategic mindset. While they may not have the power to single-handedly change industry compensation bands, they do have the ability to influence factors that directly impact employee satisfaction and retention. Leaders must focus on setting their employees up for success by providing them with the tools and support they need to excel in their roles.
## How you can help
One crucial area where we can make a significant impact is by streamlining processes and implementing technology solutions that enable their teams to work more efficiently and strategically. Too often, employees find themselves burdened by manual tasks, leaving little time for strategic decision-making. By investing in systems that align with their workflow and empower them to make data-driven decisions, you can alleviate the burden of mundane tasks and free up valuable time for strategic thinking.
It's also essential to ensure that the reality of employees' experiences aligns with the vision that is painted for them. Avoid creating false expectations and instead focus on delivering on promises. This means providing the necessary training and support for teams to thrive and grow within your organization.
## Table stakes
At the heart of it all, the objective should be to make employees' jobs less frustrating and more fulfilling. By addressing the fundamental challenges they face and equipping them with the tools and resources they need to succeed, you can improve morale, reduce turnover, and ultimately drive better business outcomes.
Not sure where to start? Here are the top 3 things we suggest revenue leaders prioritize:
1. Give your team systems they can understand.
2. Provide them with the ability – and the autonomy – to make strategic decisions.
3. Set realistic expectations of what their day-to-day job will be and find ways to make it less painful.
These may seem like table-stakes, or things that should be a given for any revenue management team. But in our experience, even these basic needs aren’t being met for some employees.
As revenue leaders, this is an opportunity to lead by example and transform your organizations for the better. Focus on what you *can* control and take proactive steps to address the labor challenges facing the hospitality industry.
If you want a sounding board to talk through how to do this, [let us know.](https://4864103.hs-sites.com/demo/n2pricing?hsLang=en) Our team has practical experience helping companies facing these issues.
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## [The Super Revenue Manager](https://4864103.hs-sites.com/hospitality/blog/the-super-revenue-manager?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on Jan 24, 2024 11:55:27 AM
During an [illuminating conversation](https://4864103.hs-sites.com/resources/hospitality/on-demand-webinar-reflecting-on-robert-cross-groundbreaking-book?hsLang=en) we recently held with industry leaders, Fernando Vives (CCO, NH Hotel Group) introduced the idea of the Super Revenue Manager.
He believes that Revenue Managers should be using the abundance of data available today – data they take time to analyze and interpret each day – to influence other areas of the business.
And we couldn’t agree more.
Gone are the days of the Revenue Manager “staying in their lane” and just focusing on revenue management in a vacuum. Instead, we believe that revenue leaders should have a seat the Sales team’s table, and the ability to influence Marketing spend.
Why? Because the intersection of Sales, Marketing, and Revenue Management is where true Commercial Strategy really lives.
If you’re ready to take the first step towards real Commercial Strategy and true organizational alignment, [connect with an expert on our team today.](https://4864103.hs-sites.com/demo/n2pricing?hsLang=en)
And to hear more about the Super Revenue Manager and other reflections on the evolution of Revenue Management, [check out the full recording of our free webinar](https://4864103.hs-sites.com/resources/hospitality/on-demand-webinar-reflecting-on-robert-cross-groundbreaking-book?hsLang=en), “Reflecting on 25+ Years of Robert Cross’s Groundbreaking Book.”
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## [Tess McGoldrick, Revenue Analytics VP, Named a 2023 HSMAI Top 25 Extraordinary Mind](https://4864103.hs-sites.com/hospitality/blog/tess-mcgoldrick-named-a-2023-hsmai-top-25-extraordinary-mind?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on Dec 12, 2023 1:53:47 PM
McLean, Virginia, (12/13/2023) – The[**Hospitality Sales & Marketing Association International**](http://www.hsmai.org/) (HSMAI) has selected [Tess McGoldrick](https://www.linkedin.com/in/tess-mcgoldrick/) as one of its["Top 25 Extraordinary Minds in Sales, Marketing, Revenue Optimization, and Distribution"](https://adrianawards.hsmai.org/top-25-lifetime-awards/hsmai-top-25/) for 2023. This is the 21st year HSMAI has compiled the list, which annually recognizes exemplary achievement and leadership in the hospitality sales, marketing, revenue optimization, and distribution.
Tess will join an exclusive list when she is honored by HSMAI at a reception in New York on February 13, 2024.
“It is with great admiration that we celebrate HSMAI’s 2023 class of Top 25 honorees in hotel sales, marketing, revenue optimization and distribution,” said Robert A. Gilbert, CHME, CHBA, President and CEO of HSMAI. “Through their creativity, dedication, and impact, these remarkable professionals not only excel in their respective fields but have set benchmarks of excellence for the industry and inspire us all."
The 2023 “Top 25” honorees were judged by a panel of senior industry executives for their recent work based on the following criteria: creativity and innovation, cutting edge sales or marketing campaigns, triumph in challenging situations, and/or efforts that resulted in dramatic gains.
Tess McGoldrick is the Vice President for the Travel & Hospitality vertical at Revenue Analytics. In this role, she leads cross-functional teams to develop high-impact products that provide revenue growth for her customers. Having started her career at Revenue Analytics, Tess developed an expertise in Revenue Management from the best in the business. Tess’ experience includes ensuring client satisfaction is achieved with all product implementations, from business process improvements, to forecast predictions, to actionable pricing recommendations. She drives the vision for N2Pricing as well as the implementation & ongoing customer success for these customers. Prior to joining Revenue Analytics, Tess graduated from the Goizueta Business School at Emory University with a BBA concentration in Strategy & Management Consulting and Accounting.
"I feel incredibly honored to be a part of this remarkable group of ‘Top 25’,” says Tess. “I cannot say enough about the support – and trust – that the Revenue Analytics senior leadership team has given me. They took a chance on an Analyst right out of college, taught me Revenue Management, and gave me the opportunities to learn and grow through working with our amazing customers. To be recognized by such an esteemed organization as HSMAI eleven and a half years later feels like a dream.”
The “Top 25” will be honored in person at a reception at the New York Marriott Marquis February 13, 2024. The reception is being held in conjunction with the[HSMAI Adrian Awards](https://adrianawards.hsmai.org/top-25-lifetime-awards/hsmai-top-25/) Celebration, which recognizes the winners of the largest and most prestigious competition in global travel marketing.
In addition to the “Top 25” reception,** **Tess** **will be featured in an HSMAI special report, receive a personalized award, and henceforward be recognized as a “Top 25 Extraordinary Mind in Hospitality Sales, Marketing, Revenue Optimization, and Distribution.”
## **About HSMAI**
The Hospitality Sales & Marketing Association International (HSMAI) is committed to growing business for hotels and their partners and is the industry’s leading advocate for intelligent, sustainable hotel revenue growth. The association provides hotel professionals and their partners with tools, insights, and expertise to fuel sales, inspire marketing, and optimize revenue through programs such as the Commercial Strategy Conference, Sales Leader Forum, and Adrian Awards. Founded in 1927, HSMAI is a membership organization comprising more than 5,000 members worldwide, with 40 chapters in the Americas Region. Connect with HSMAI at [hsmai.org](https://eur02.safelinks.protection.outlook.com/?url=http%3A%2F%2Fhsmai.org%2F&data=05%7C01%7Cfiona.brueckman%40wearemci.com%7C5a22044839d745fff92608dbf1d76f5f%7Cac144e41800148f09e1c170716ed06b6%7C0%7C0%7C638369679812286193%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=Uy%2B7j0KBo6JsOIESFThKl6uUTkrJ%2FnaPz8f0SrhiNyk%3D&reserved=0).
## About Revenue Analytics
Revenue Analytics invented yield management in 1984. Today, they're the brains behind N2Pricing™ – the first modern Revenue Management System for the hospitality industry. N2Pricing streamlines and automates revenue management across an entire portfolio of properties. These capabilities give revenue managers 50 hours back each month for high-impact work, so hoteliers can stop losing profit and start tapping their people's full potential.
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## [The Transformative Power of Automation for Revenue Management Teams](https://4864103.hs-sites.com/hospitality/blog/the-transformative-power-of-automation-for-revenue-management-teams?hsLang=en)
Posted by [Tess McGoldrick](https://4864103.hs-sites.com/hospitality/blog/author/tess-mcgoldrick) on Nov 7, 2023 3:22:25 PM
You’ve heard it before: automation is your best friend. Use it, or you’ll fall behind.
It’s probably all over your LinkedIn feed, your inbox, and your conversations with coworkers. And while you may agree with the sentiment in theory, have you found yourself wondering what it really means in practice? Specifically, how does automation benefit hospitality leaders and revenue management teams? And can you really trust it?
Read on for a deep dive into how automation – automation tools in Revenue Management Systems, to be exact – could be game-changing for your business. And not to spoil the ending, but we think the ability to **give your team back 50 hours each month** will have you asking: *“How can we start using these tools today?”*
## No automation? No Big problem.
In the past, hotels often had on-site Directors of Revenue Management (DORMs) who managed pricing for a single property. They were trained to manually manage pricing updates in a day-by-day, rate-by-rate cadence – sometimes in Excel, and sometimes with the help of a Revenue Management System (RMS). The work was manual and time consuming, but with only one property to focus on, the workload was manageable.
The plight of the modern revenue manager (RM) is quite different. Gone are the days of the single-property DORM being the norm. Instead, RMs are responsible for a portfolio of many different properties with unique demand patterns, offerings, and pricing strategies. These “above-property” RMs (i.e., they aren’t on-site, and are overseeing more than one property), must handle a MUCH higher volume of rate changes.
Often, these changes are still being handled manually, either in Excel or in a legacy RMS that wasn’t built to support large portfolios of properties. The automation capabilities of these legacy systems often take an all-or-nothing approach, forcing users to either (a) manually review all recommended price changes or (b) let the system automatically execute EVERY recommended price change. Option B can be scary for RMs who don’t trust the tool (often for good reason), resulting in constant manual overrides and ultimately very little automation at all.
In short: revenue management has changed, and legacy systems haven’t kept up. The modern above-property world requires revenue managers to oversee multiple properties on a daily basis, therefore requiring systems that support that way of working. Effectively keeping up with the sheer scale of pricing changes required isn’t possible without the aid of automation.
## By the numbers
In a recent study conducted by the Revenue Analytics team, data provided by a large hotelier uncovered some startling insights into the day-to-day life of the modern RM. The participants in the study were responsible for overseeing multiple properties. The results showed that:
- **An average of only 11 manual rate changes per day** were executed, either by the user directly or via RMS automation (across their entire portfolio)
- Each manual pricing update took approximately **1 minute **
- The RM’s day was largely filled with **manual tasks **
The Revenue Analytics team took the hotelier-provided data and calculated the efficiency gains achieved using [N2Pricing RMS](https://www.revenueanalytics.com/hospitality/n2pricing?hsLang=en)’s automation capabilities. Here’s what we found:
That’s nearly a **14x increase** in the number of daily rate changes executed. Talk about an efficiency boost!
And while the efficiency gains are an impressive statistic, it is the ability to reclaim up **to 50 hours each month** that is the true goldmine for revenue management teams. Freeing them from repetitive, manual tasks allows them to focus on:
- Collaboration with cross-functional teams (marketing, sales, etc.)
- Market trends and competitive analysis
- Commercial strategy & alignment
- Continued education & training
- Work/life balance
It’s about so much more than the numbers. It’s about enabling your team – and your business – to flourish.
## Empower your team to take back their time
So, we return to our original question: how does automation really benefit revenue management teams?
1. ** ****Increase efficiency. **Manage more properties with ease. Manual price changes become the exception, not the rule.
2. **Achieve scalability. **The sheer number of pricing decisions required of above-property managers each day isn’t achievable without automation.** **
3. ** ****Unlock their time. **Free your team from manual processes and endless button-pushing. Allow them to dig into important, fulfilling work, such as research, collaboration, and commercial strategy.
The key to unlocking these benefits is **trust in the right technology**. Having access to an RMS that employs automation is great, but only if RMs trust the tool enough to stop overriding its recommendations. We are proud to say that N2Pricing is built on transparency and the most accurate demand forecast on the marketing. These qualities instill trust in the user, encouraging them to utilize the automation capabilities to the fullest. For more on the specific ways in which N2Pricing uses automation, [check out our blog](https://4864103.hs-sites.com/hospitality/blog/above-property-revenue-management-requires-a-new-breed-of-rms#1).
If your team is focused on above-property revenue management, then automation truly is key to your success. In order to effectively scale your pricing strategies, gain efficiency, capture demand, and boost profit across your portfolio, you must move away from manual revenue management. So, while automation might feel like the latest LinkedIn trend, it’s also critical to any hotelier’s success.
Curious to see how N2Pricing’s automation capabilities could benefit your business? [Connect with an expert on our team today.](https://4864103.hs-sites.com/demo/n2pricing?hsLang=en)
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