Executive Summary: The sudden reversal in the lodging industry's fortunes from 2008 to 2009 has brought a renewed focus on revenue and profitability for revenue managers. In a survey conducted in 2009, 291 revenue managers cited concerns about customer rate resistance, contract renegotiations, competition, and price wars as their top considerations. This contrasts with a 2008 study, where human resources and technology issues were ahead of economic concerns. Participants in the 2009 Revenue Management Roundtable, produced by the Cornell-Nanyang Institute of Hospitality Management, concurred with the study's findings. In particular, the meeting participants pointed to the difficulty in maintaining pricing positioning, because the drop in demand has shifted considerable pricing power to the customer
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