Senior Revenue Manager, What are your development needs?

Conference: eCommerce meets TourismCREA Geneva, October 13th, 2016

Kate Varini & Tania Thompson

Hes-so /HEVS Valais Valais / Tourism Bachelor Degree Program

Institute of Tourism: Research & Professional Development

Wise is she who knows

she does not know. Socrates

Plan A brief glimpse at the evolution of revenue

management

The role of a Senior Revenue Manager (SRM)

Skills & Knowledge Specifics

Serious Game as a tool to develop SRM

The Evolution of Revenue Management

Orange = "Historic" events which have had an impact on RMDark blue = Events in the field of RM

The Evolution of Revenue Management – Technology Events

The Role of a Senior Revenue Manager

Source: http://www.ehotelsalliance.com/hotel-revenue-manager-role

A Transdisciplinary and Multifunctional Role Ladies do it too……

RM Myth: It is a man’s world

NEWDOMAINS

REVENUE MANAGERFEMALE / MALE

IN ALOCATION

NOT AFTP

DIFF.LEVELS @

HIERARCHY

REMOTESAME

CO.

OUT-SOURCEDCENTRALISED

FEMALE / MALE

SENIORRM

CLUSTER

CITY

COUNTRY

REGION

FEMALE / MALE

VPRM

AIRLINE

TOUR OP

OTA

HOTEL

CASINO

RENTALCARS

Revenue Manager Imposters

RM Myth: RM = Managing Online Sales & Distribution

Orga

nisa

tiona

l Pr

actic

esThe Peter Principle

A Set of Skills which evolves along with the discipline

Strategic SkillsAnalytical thinking Technology-savvyData-mindedFinancial

Operational SkillsCoach and develop othersAbility to «think on ones feet»

Individual ExcellenceInspire and motivate othersCommunicationNegotiationBuild relationshipsHigh level of integrity and honesty

Future Challenges

Seeing the Big Picture

Knowledge Management

Performance Measurement

Technology

ChangingOrganisational

Structure

Total Revenue Management

OTAs

Consumer Behaviour

Risk Management

RM Myth: It is all about knowing the theory

The Rising Importance of Soft Skills at the Senior Level

Source: http://www.keyword-suggestions.com/c29mdCBza2lsbHM/RM Myth: Men are more suited to the role

& Tacit Knowledge

Sources: Palmer, A., & McMahon-Beattie, U. (2008). Variable pricing through revenue management: a critical evaluation of affective outcomes. Management Research News, 31(3), 189-199.http://www.infogineering.net/data-information-knowledge.htm

Data

Information

Knowledge

WisdomTacit

Knowledge

Explicit Knowledge

RM Myth: It is all about knowing the theory

Interesting & Concerning• RM principles are essentially the same, no matter what the industry.• “The challenges related to TRM today, are mostly related to internal issues • Hotel Management and Intelligence systems are often not up to the task. • Difficulties in getting exact total revenue figures on the books. • Hotel management often lacks knowledge of their own business regarding

costs related to income. • The whole RM work is still based on old and misleading indices such as RGI. • In many cases, departments are at war with each other, mainly because

of stupid bonus rewards that makes it difficult for them to see the big picture". Pe

rson

alisa

tion

Nee

ded?

Pre-work + Team Coach Development + Post Work based on Workplace Issues + A Serious Game to

Develop SRM Soft Skills & Tacit Knowledge

How could we develop our skills and knowledge

together?

I heard that simulations and serious games are the

new trend

But when? How long? How often? How many days a

year? Where?

What is YOUR opinion?

Source: http://www.freepik.com/free-vector/designers-working_824181.htm