Driving the Revenue Management Culture Past Rooms

The Lightning Round is a signature program at HSMAI’s ROC event — giving six revenue optimization executives just six minutes and 40 seconds each to share a best practice, strategic insight, or big idea. At ROC 2019, Michael Lau, CRME, CHBA, regional director of revenue management for AccorHotels, presented a Lightning Round session called “Above and Beyond — Driving the Revenue Management Culture Past Rooms.”

KEY TAKEAWAY: “Goals don’t lead to successes, high achievements do,” said Lau, who compared the teamwork necessary to run a hotel to how Michael Jordan worked with the rest of the Chicago Bulls. “The Bulls had specialists and the sum was greater than the parts.” Similarly, everyone needs a foundation of knowledge in the hospitality industry, but it’s important to identify leaders and put teams together with complimentary skills. Lau recommended ensuring operating standards are in place, making reports user-friendly, and providing a framework for the team to operate within, but noted that it’s important to test out what works best for your team and your property to operate at the highest efficiency.

Categories: Conferences & Events, Revenue Management, Strategy
Insight Type: Best Practices, Presentations, Videos