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December 28, 2015

Americas: Why Revenue Management Is Like a Box of Chocolates

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There are a few ways to think about revenue management. One is that it gives hoteliers a formula for maximizing revenue per available room. Another is that it’s the “Moneyball” of hospitality—a triumph of data over judgment and experience. And there’s a third, says Mark Benson, president and managing partner, Applied Meeting & Hospitality Solutions: “It’s the box of chocolates from ‘Forrest Gump.’ You never know what you’re going to get.”

Mark Benson, president, Applied Meeting & Hospitality Solutions
Mark Benson, president, Applied Meeting & Hospitality Solutions

Benson and his partner, Todd Mickey, COO and managing partner, have decades of experience in sales and operations for luxury and upscale resorts. Their company helps planners negotiate contracts by digging into the rationale behind the numbers that appear on hotels’  proposals. They recently shared their thoughts about revenue management, the seller’s market, and why planners should always ask, “Why?”

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