The hotel industry needs a revolution with real differentiation: room inventory must be redefined to enable new sales techniques such as attribute-based selling.
When revenue management systems predict pricing based on room types per day, they neglect to capture the context of different travelers’ willingness to pay in real time and the overall demand for specific room features.
To radical increase RevPAR performance with more direct and higher-value bookings, the hospitality industry must abandon static inventory management of room categories and move to dynamic and feature-based inventory management. This is the foundation for new data point-driven sales and revenue automation, where AI and Deep Learning make sense and new buying experiences can be developed to incentivize direct sales channels.
