Short transcript excerpt from a YouTube video ("The Secret Stages of Revenue Management") where two speakers discuss common stages hosts follow in their revenue-management journey: beginning with basic research (identifying high/low seasons, compression dates, major events) and then progressing to more active involvement, typically adopting tools to manage pricing.
Is there different stages that you see where hosts are at? Is there like stages where you can kind of box people in and go, do you know what this, this person's in this stage, this person's at this stage. Do you tend to find that or is it just more of a free for all?
No, I think people do kind of follow specific steps in their revenue management journey, kind of influenced by their past experience a little bit. But generally you'll have hosts that are just starting out and they do some research into kind of the basics behind pricing and revenue management. They start determining when their high season and low season is maybe where some of those compression dates are and big events, right? And they're kind of scratching the surface. Usually after that people do a little more research they want to do, be a little more involved. And that's typically when they start using tools, right.
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