ZS and The Hospitality Sales & Marketing Association International (HSMAI) have partnered to develop this Voice of Revenue Manager (VoRM) study to better understand how Revenue Managers are allocating their time. Among the key findings:
- More than half of RMs time is spent on non revenue generating activities (55% on average)
- RMs spend on average 5 weeks of full time effort on RFPs and 6 weeks of full time effort on budgets (between 8 12 weeks total on just these two activities across chain scales)
- RMs spend about 73% of their weekly time on non stakeholder facing activities and only 17% of time with stakeholders. 15% of their week is spent updating the many systems they interact with, and only 6% in revenue strategy meetings
- RMs always review past performance on their revenue strategy meetings, but strategies for future months and promotions are not discussed regularly despite high importance to stakeholders
- RMs in MEA struggle to influence stakeholders to accept recommendations. Less than 70% of recommendations are accepted on average
- Price recommendations from the RMS are overridden on average 25% of the time.