In this podcast we are joined by Dan Skodol, Vice President of Data Science and Analytics at Cendyn (https://www.cendyn.com/
Dan came to Cendyn following the acquisition of The Rainmaker Group in 2019. With over ten years of Revenue Management experience in gaming, hotels, multifamily real estate, and airlines, he is responsible for researching and designing enhancements and innovations within Cendyn's product suite, as well as supporting thought leadership topics and studies via analytics.
We talk with Dan about 3 broad areas;
The first is a look at the possible recovery shape, early indicators to key an eye on and impact of regional differences. Considering the V, U, L and W shape recovery and the impact of ‘revenge travel’ and international travel lag.
Secondly, we discuss the ‘what if’ factors to consider when undertaking scenario strategy planning. How business mix, demand and booking behaviour ties in with hotel capacity restrictions and the impact on pricing and ancillary revenue. Briefly touching on the value of a CRM to communicate effectively in a much more granular level.
Here is an article that touches on some further points related to CRM:https://revenue-hub.com/how-crm-help-hotels-recovery/
Finally, we touch on one specific aspect from Cendyn’s recent white paper “The Ultimate Crisis Survival Guide” and that is ‘Revenue Forecasting’ as we prepare for the recovery. Recognising forecasting will be a challenge it is still important to not give up on forecasting, but maybe there is a greater need for multi forecasts, with ranges, and a margin of error.