Successfully managing a hospitality business is a balance of maximizing inventory, optimizing price, and keeping customers satisfied and loyal.

Lost revenue may result from booking one day when a three-day reservation is probable; not accurately factoring cancellations or no-shows; overcharging during a slow period and losing revenue on empty rooms; or pricing too low and not capitalizing on peak periods. Customer dissatisfaction may result from improper overbooking, or not adequately preparing the resources and employees needed to satisfy guest demand.

To improve revenue management, hospitality companies must plan for the unknown, and forecasting is the closest that technology has come to creating a crystal ball. Combined with analytics and price optimization, forecasting helps companies make better strategic decisions. Businesses are able to:

• Maximize revenue by accurately forecasting demand and developing price optimization models for adjusting price and inventory availability.
• Increase customer and service profitability.
• Predict price elasticity, cancellations and no-shows, conversion and retention rates, and dilution by customer segment.
• Forecast staffing and optimize resources needed to serve forecasted customer demand.

Join Scott Rosenberger, Principal of Tourism, Hospitality and Leisure at Deloitte Consulting, and Sri Raghavan, Senior Vice President of Revenue Management and Analytics at RCI Global Vacation Network, for the Webcast How to Win Guests and Influence Revenue: Improving the Bottom Line Through Analytics. Rosenberger and Raghavan will discuss the current challenges of the hospitality industry and explore possible solutions for optimal revenue management.

We hope you will make plans to join us for this valuable Webcast.

Scott Rosenberger is a Principal at Deloitte Consulting, where he focuses on tourism, hospitality and leisure business segments. Rosenberger's experience includes both advisory and implementation services that provide clients with comprehensive solutions to help them better manage information technology, including organization design strategy. Recently, Rosenberger led the work effort to design and merge revenue processing functions across multiple geographies for a leading travel company.

Sri Raghavan is Senior Vice President of Revenue Management and Analytics at RCI Global Vacation Network. He is responsible for managing a "members-only" marketplace that acts much like a stock market and/or brokerage; owners of leisure assets such as timeshares, fractional or whole ownerships of vacation homes, condo-hotels, luxury yachts, etc., can exchange and/or rent their assets within this marketplace. Raghavan's award-winning research has been published in Management Science and Journal of Business Research.