Succession planning in revenue management – does your revenue manager have what it takes?

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What skills are required of tomorrow’s revenue manager?

In 2013 there was a significant level of buzz around the need to plan for a new type of revenue manager.  You didn’t have to look too far to find comments on the convergence of the marketing and revenue disciplines  – an entire conference was dedicated to it by HSMAI Europe in Berlin, and it was a lively topic of debate in a recent webinar in the HSMAI 10-part revenue management series, which concluded that “As the practice of revenue management becomes “total” in application, its natural function will soon extend beyond a single department.  This will put more of a demand for “number crunchers” to expand their knowledge base and leadership skills.”

Furthermore, many hoteliers report experiencing a “brain drain”, losing some of their most talented revenue managers to companies that offer higher salaries, and in many cases more sociable “office” hours without the need to fulfil operational responsibilities such as Duty Manager shifts.

To this end the HSMAI Europe Revenue Management Advisory Board has put together a survey which solicits information from all revenue managers, directors, and all those responsible for recruiting revenue managers. The survey questions what skills will be expected of revenue managers in the future, and also looks at the skills of revenue managers today that may no longer be required tomorrow.

We need input from everyone involved in recruiting revenue managers, building revenue management teams, managing revenue clusters, Revenue Directors and Vice Presidents of revenue teams.

What do you think? How are you planning for your revenue team of tomorrow?

The survey can be accessed here  and the results of the survey will be presented at the HSMAI Europe Revenue Management Conference February 6th 2014, in London.

At the conference, we will also solicit opinions from a panel of experts from inside and outside of the hotel industry who will address the issues related to keeping the skills within the industry and how to motivate and keep a great revenue team.

The survey is managed by HSTC and will close on 23rd Jan – so please take the survey today – its only a few questions – and don’t forget to register for the conference – and get your 2014 revenue strategy sorted in a day!

Completed the survey and want to attend the conference? Complete the form below to request special conference rates for survey participants.

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