In the past, manual-based revenue management approaches have looked at a hotel’s booking history and current activity levels to forecast demand. During periods of high demand, revenue managers would increase rates. When demand is low, they would discount them, thereby...
The COVID-19 crisis quickly brought the travel and tourism industry to a virtual standstill, as steep drops in demand forced unprecedented capacity adjustments by airlines, cruise lines, hotels, railways, etc. But when the inevitable recovery comes — perhaps in...
