A new survey from Hospitality Sales and Marketing Association International (HSMAI) has uncovered the work, challenges, and concerns of senior Revenue Management professionals. It found that critical thinking was considered an important or very important management skill by all respondents, as was business acumen by 98% of respondents. What else is required to be an effective manager and how much of a difference can the right leadership make to a business?
In these video, experts discuss leadership and management in hospitality:
The HSMAI survey shows that there is a desire from Revenue Managers to have more control to push businesses forward; the top-rated responsibilities the respondents said they would like to add to their duties were Sales and Marketing, and Strategic Planning.
The HSMAI survey found that revenue management professionals currently spend on average 5.5 hours per week on Human Resource Management, 14 hours on Strategy, and 5.6 hours on Technology Application.
The survey also covered the challenges that the Revenue Managers faced. The most challenging aspects of the revenue managers position was found to be; advancing the thinking & decision making in related disciplines, and elevating the strategic application of data throughout the enterprise.
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