RM Magazine ISSUE 9 RM Magazine Issue 9

WELCOME FROM ARMA In this issue What your Revenue Management System should do for you.............................................. 4 Hotel Technology – It is not as difficult as you think.......................................................... 6 A new era of buying and consuming hospitality technology................................................ 8 Direct bookings rise, OTA share dives.............................................................................. 10 Five ways to boost your Hotel’s Revenue......................................................................... 14 The who’s who of RM – Moana Heal............................................................................... 16 The who’s who of RM – Tracy Hore................................................................................. 18 Value, pricing and the guest…......................................................................................... 20 2019 Summit Experts and their stories........................................................................... 22 Health check systems & strategies.................................................................................. 24 Stand out in the crowd.................................................................................................... 26 Over half of Aussie Gen Z would rather spend money on travel than anything else.......... 28 The who’s who of RM – Mark Nixon................................................................................ 30 The Rate Parity Myth: The good, the bad and the ugly!................................................... 32 Why Virtual Revenue Assistants will eliminate traditional Revenue Systems.................... 34 The Chatbots are yet to take over.................................................................................... 36 A Revenue Management Perspective.............................................................................. 38 If I could just get inside their heads!................................................................................ 40 The who’s who of RM – Nikanor Danilov......................................................................... 41 Length-of-stay discounting strategies in the Australian and New Zealand market............ 42 Mind the gap................................................................................................................... 44 Recipe – Banana bread................................................................................................... 46 PUBLISHER Melissa Kalan – ARMA www.revenuemanagement.com.au DESIGN On the Coast Publications – 02 4325 3393 Warranty & Indemnity Advertisers and/or advertising agencies upon and by lodging material with the Publisher for publication or authorising or approving of the publication of any material INDEMNIFY the Publisher, its servants and agents against all liability claims or proceedings whatsoever arising from the publication and without limiting the generality of the fore-going to indemnify each of them in relation to defamation, slander of title, breach of copyright, infringement of trademarks or names of publication titles, unfair competition or trade practices, royalties or violation of rights or privacy AND WARRANT that the material compiles with all relevant laws and regulations and that its publication will not give rise to any rights against or liabilities in the Publisher, its servants or agents and in particular that nothing therein is capable of being misleading or deceptive or otherwise in breach of Part V of the Trade Practices Act 1974. The views expressed in RM are not necessarily those of the editor or publishing staff. While every effort has been made to insure accuracy of the information in this publication, no responsibility will be accepted by RM. © No part of this publication may be reproduced without permission from the publisher. 2 Better Revenue I Better Industry I APAC I www.revenuemanagement.com.au Welcome W elcome to the 2019 Summit edition of RM Magazine. It is an absolute delight to share this issue with you, which features some incredible content from our much-valued partners who all share extremely useful insights. This edition also features some wonderful leaders in revenue strategy including Mark Nixon, Nikanor Danilov, Moana Heal and Tracy Hore – be sure to read each of their inspiring stories! The ARMA office has been extremely busy finalising the agenda for this year’s Summit. I am incredibly grateful to have the support of leading industry experts in revenue management and business offering their time and knowledge including Chris Petzoldt, Nic Robin and Peter Brewer who will each share revenue and yield management strategy insights across diverse business models including the application of RM in the entertainment industry, which is sure to be thought-provoking and inspiring. ARMA Summits focus on education to improve profit results. Tips learned at the 2016, 2017 and 2018 Summits delivered tangible revenue outcomes for many attendees and partners. This year’s Summit is themed “Connect & Grow” and will once again be focused on what you can do to deliver improved results. We are delighted to have the continued support of the AAoA, TIA, CCIA NSW and TAA, our media partners HM and AccomNews, and this event would not be possible without all our exceptional partners, particularly our platinum partners – IDeaS Revenue Solutions, Sabre, Expedia Group and STAAH. ARMA firmly believes that providing an annual RM discussion platform accessible and relevant to all sectors of industry is much needed and I am absolutely thrilled with the support we receive each year for these events. ARMA has experienced exceptional growth over the past year as we continue to support industry with up-skilling in the discipline of RM. Our goal is to provide a consistent base-level of accessible education through our online foundations program – THINK CHANGE GROW ® supported by ARMA trainers 7 days a week, while also providing educational pathways for employers in this critical discipline. This year saw the launch of our first online globally accredited Graduate Certificate of Revenue Management (GCRM) qualification in partnership with Torrens University Australia. This qualification can be completed in 6 or 12 months, is delivered 100% online with graduates receiving a credit towards an MBA qualification should they choose to advance their education further. The GCRM has received very complementary testimonials from currently enrolled industry students and intakes are growing strongly each trimester. The flexible nature of the program makes it a highly desirable format for even the busiest full-time professional. ARMA is proudly the preferred supplier of revenue management education for the Accommodation Association of Australia, Tourism Industry Aotearoa and the Caravan and Camping Industry Association whose members receive discounts to up-skill and get certified. Our programs are also endorsed by Tourism Accommodation Australia (TAA) and is a testament to both the quality and targeted nature of our ARMA courses. ARMA is also passionate about ensuring succession planning and remuneration for this critical role remains high on industry’s agenda. I’d also like to take this opportunity to thank our ever expanding ARMA community of trained professionals including our Graduate Certificate of Revenue Management students and network of RM- focused organisations for their passion and dedication towards the discipline of RM. As always thank you for your support and I hope you enjoy this year’s Summit! Warm regards Melissa Kalan Founding Director Australian Revenue Management Association – ARMA Better Revenue I Better Industry I APAC I www.revenuemanagement.com.au 3

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