There are different types of revenue managers depending on the sector or industry in which they operate. Let’s focus on our sector, hospitality. If we were to give a basic definition of a hotel revenue manager, it would go something like this:
An individual responsible for revenue management for hotels, resorts, and other lodging facilities. They analyze booking data, room availability, and market demand, and set optimal rates to maximize revenue.
So far, so good. But, like all humans, revenue managers have their own nuances, characteristics, weaknesses, and, surprisingly, real feelings!
Let’s take a look at the three most common types of revenue managers:
The Anxious Revenue Manager
A fascinating character in the business world. This individual always seems in a rush to maximize revenue, as if the world would crumble if even one euro were lost. Their desk is a jungle of scattered papers, sales charts, and forgotten cold coffee. Every minute counts for them because wasted time could mean an irreparable loss.
The anxious revenue manager is the master of overthinking. Every decision they make is accompanied by a sea of doubts and uncertainties. They wonder if they set the right rate, if they considered every possible variable, and if their competitor is scheming behind their back. Their mind is a casino of catastrophic scenarios and rescue strategies.
When sales are down, they panic and start to sweat.
They switch to “extreme discount” mode, with a forced smile visible from miles away.
But when sales go well, the anxious revenue manager is a true champion. Finally, the confirmation that all those sleepless nights, in-depth analyses, and bizarre theories have paid off. They’re a hero of numbers, a profit champion.
An unyielding professional, ready to challenge the world and do whatever it takes to achieve that extra budget.
The Philosophical Revenue Manager
A mystic in the art of maximizing revenue. This individual is immersed in a world of deep reflections on the meaning of life and the complex connections between pricing strategies and the universe.
The philosophical revenue manager spends hours savoring coffee, deeply meditating on supply and demand. They wonder if their perception of reality is merely an illusion and if the prices they set have a real impact on booking flows. Sighing as they sit in front of a window, graphs dance in their mind, and mathematical equations turn into enigmatic poetry.
Team meetings turn into full-on sessions of existential philosophy. The philosophical revenue manager asks questions like, “What is value? Is it just a social construct, or does it have an ontological basis?” and “Does price determine customer happiness, or is it merely an ephemeral illusion?” The other team members look at them with puzzled expressions, trying to understand how these metaphysical discussions relate to the reality of numbers.
When they finally make a pricing decision, the philosophical revenue manager claims the right to call it “The Art of Profit.” Like an artist sculpting a masterpiece, they mold rates with mastery and brilliance. It’s not just about money; it’s an expression of self, a dialogue with the cosmos, a union of the market and the soul.
The Creative Revenue Manager
A visionary who pushes the boundaries of the business world to create unique and eccentric revenue strategies. This individual transforms the office into a laboratory of extravagant and surprising ideas.
The creative revenue manager is always surrounded by an aura of mystery and originality. They show up to meetings in flamboyant outfits and quirky accessories. Their desk is an explosion of color, with markers and stickers decorating every corner.
Their pricing strategies are a true display of ingenuity. Rather than following industry conventions, the creative revenue manager launches rates as if they were works of art. They experiment with exotic packages like “The Adventurous Client Journey” or “The Interdimensional Luxury Experience,” leaving everyone in awe, wondering if they are brilliant or just a bit crazy.
When presenting their plans, the creative revenue manager puts on a show. Each slide is a visual masterpiece, with captivating images and quirky quotes that capture everyone’s attention.
These are just a few examples of the types of revenue managers. This vital category drives the hotel pricing world in an incredibly intricate, fascinating, and often unpredictable way. They are the magicians of rates, the guardians of revenue, and the captains of financial strategy. Their work directly impacts hotel profitability and the ability to adapt to shifting market dynamics.
So, let’s raise a glass to the right price and to all the revenue managers out there, who work tirelessly behind the scenes to ensure the hotel industry continues to thrive profitably.
And you? Which of these types do you identify with the most?
Elena Alleruzzo
Marketing & Communication Manager MyForecast RMS