Duetto Revenue Strategy Forum (RSF) Greece 2024, held at One&Only Aesthesis, brought together hoteliers and industry leaders for a half-day educational event to discuss how data and technology can empower revenue teams and drive profitable growth.
Key takeaways
Empowering decision-making across teams
RSF Greece emphasized the importance of accessible, real-time data across departments to inform smarter revenue strategies and make faster, more informed decisions that lead to increased profitability.
Resilient growth amid challenges
Dr. Aris Ikkos, Research Director at INSETE, shared insights on the current state of Greece’s tourism sector, highlighting a 9.9% YoY increase in arrivals by August 2024. Despite a small decrease in average spending per visitor (7% down), Greece’s reputation remains strong. However, environmental factors, such as summer heatwaves, have impacted visitor experiences, signaling a need for agility and responsiveness from hoteliers to adapt to external challenges. With its Dynamic Optimization, our Advance solution plays a crucial role.
AI and automation
As shared in Duetto’s RSF Greece, AI can predict guest behavior, optimize pricing, and support hyper-personalized guest experiences. By using AI for real-time pricing optimization and demand forecasting, hotels can maximize occupancy and profitability without compromising guest satisfaction.
The role of technology in Greek hotels’ digital transformation
As noted by Alexandros Vassilikos, President of the Hellenic Chamber of Hotels, the Greek hospitality sector urgently needs to change to remain competitive. Investing in digital tools and integrating data-driven strategies is essential for growth.
The power of Neuro Pricing
Wilhelm K. Weber, Chief Strategy and Digital Officer at Grand Metropolitan Hotels, delivered a standout session on Neuro Pricing. The session explored the science behind consumer behavior and its impact on revenue strategy. Neuro Pricing techniques, such as framing and perceived value adjustments, empower hotels to drive guest engagement and loyalty through strategic pricing.
Conclusion
RSF Greece 2024 stated that data and technology are no longer optional but critical assets for hoteliers aiming to stay competitive and profitable. By adopting technology, hotels can enhance their revenue strategies, respond dynamically to market changes, and personalize guest experiences.
