True or False? Debunking Myths in Hotel Revenue Management

Hotel revenue management is surrounded by myths, from the idea that it only concerns room rates to the notion that strategies are “set it and forget it.” This article debunks these misconceptions, highlighting the complex nature of revenue management, which goes beyond pricing to include market analysis and customer behavior. We will discuss how revenue management is crucial for all hotels, not just high-end ones, and explain why dynamic pricing…