When the stable becomes unstable
Over the last decade or so the relatively stable economic environment particularly across Europe has meant revenue management strategies could focus mainly on the market environment. Now, just as we should be looking to brighter times after the havoc wreaked by the pandemic, global political and economic uncertainty are forcing us to rethink our strategic approach and driving fundamental shifts in customer behaviours.
Spiralling Costs
Energy costs are spiralling out of control, inflation rates soaring, minimum wage levels are increasing (no bad thing) and we face a cost-of-living crisis the likes of which we haven’t experienced for many years. Having enjoyed the relative economic stability of the last decade, how do we manage these new and mostly negative market indicators?
Economic complexities drive shifts in consumer behaviours and higher demands from asset managers
As consumers turn to face the reality of the economic storm, how will all this impact guest behaviour? Will we see taking a holiday as a discretionary spend or an annual must-have reflecting a new desire to invest in free time? As guests become more discerning with spending, they are driven by a desire to invest in experiences that reflect their values. We need to reflect this in how we present our products and services and give guests more agency to curate their own experiences with us. Combined with owners looking to commercial to drive incremental revenue gains, how do we manage this increasingly complex environment?
Catalyst for Conversion
Come and join us on 31st January to peel back the new complexities of revenue management as we move into a new year in an increasingly demanding decade. Find out more at Opportunity2023.co.uk
