Jennifer Staciokas, Pinnacle’s Senior Vice President of Marketing, Training & Revenue Management, was a panelist at the November 2019 NMHC OpTech Conference in Dallas. She was joined on stage by three other revenue management experts to present the session titled “Happy Birthday, Revenue Management! It’s Time to Grow Up!”.
This session came about after a study done by D2 Demand Solutions found that 18 years after its launch, revenue management had fallen off the C-suite radar of at least 20 prominent owner/managers in the multifamily industry. To read the white paper and additional commentary around the risk of complacency for revenue management, click to read the blog posted prior to the session.
The panel focused on four topics: the difference between multifamily and hospitality in terms of revenue management; how to minimize the impact during a downturn through the use of revenue management; the future of revenue management technology and what our existing technology is lacking; and how to find the best talent and what characteristics to look for.
The panelists’ hope was to bring revenue management top of mind for attendees so they might go back to their organizations and strategize ways to maximize revenues through a holistic property performance approach where pricing plays a prominent role.