Video by Fabian Bartnick, Vice President, Asia Pacific LodgIQ. This video and article are based on the recent session on Revenue/ Commercials at the HSMAI Revenue Optimization Conference on our Academy Day.  

When revenue managers set prices, they consider their demand, their price and their competitors’ pricing amongst other external data.  Have you thought about the competencies and cognitive skills you will need to succeed in 5-10 years time?  Fabian takes you through an interactive session that highlights the skills you’ll need to embrace and learn to continue to grow your career in hospitality.

Although we are moving away from tradition and we are working in an environment where soft skills are required more and more, we should not forget that future leaders will need to be technically competent (Figure 7) and have specific knowledge (Figure 8).

Without surprise, in a such digitalized and interrelated world, basic computer literacy skills and knowledge of operations management systems such as hotel property management systems, as well as the ability to engage with internal and external stakeholders and to understand customers’ perceptions of value are seen as more and more needed.

Figure 8: Functional competencies divided by geographical areas. Source: What type of disruptive leadership will the hotel industry need?

The 4 cognitive competencies shown in Figure 8 are seen as overall game changers. Future leaders will need to deal with change, energise the change process by removing barriers and reach solutions on the basis of observation, analysis and evaluation. On top of this, the ability to anticipate emerging opportunities and being challenging is crucial.

Figure 8: Cognitive competencies divided by geographical areas. Source: What type of disruptive leadership will the hotel industry need?

In the video below Andrew Rubinacci, CHSP, SVP, Distribution & Revenue Management Strategy, IHG provides his insights on finding the balance between revenue management technology and RM professional decision-making.

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