Using the Gig Economy for Low Cost Revenue Management

You have probably heard the term "gig economy" before. You might instantly think of ridesharing or food delivery, but in truth, the gig economy impacts all industries, including oversized, multinational corporations are becoming part of this exploding workforce development.

First, let us determine what a gig economy is. Simply put, it is built on the concept of an employer hiring a worker for a specific task for a certain period, with no ongoing connection to the business.

Gig work allows flexibility and variety for the everyday person and is the perfect digital platform to efficiently connect consumers to the particular help they need. Especially after the pandemic, people are looking for fresh starts and are ready to try new things. It comes as no surprise that this modern-day notion is spreading to the hospitality industry.

In fact, when the pandemic halted travel around the world, hoteliers had no choice but to furlough or lay off large groups of their hotel employees, with no time to think about the long-term impact.

Hotels are facing a slow climb back, and as the hotel industry returns, we find that many employees have quit, leaving a gaping labor hole. Owners and management are desperate to find people to perform maintenance, clean rooms, and fill more roles.

Another thing, holding out for full-time workers could result in dire consequences. The depreciation among managers is higher than it ever has been due to spending a significant amount of time trying to find coverage. Where they cannot fill roles, they are performing the linework, causing burnout.

In more ways than you think, the gig economy has already altered the hospitality industry. Usually, hotels would hire full-time staff directly through the property. But now we see that some hotels are curious about looking for more ways to fill these needed positions. The gig economy has opened the door for a new type of on-demand workforce that brings positive change to the hospitality industry.

How can the Gig Economy work for your Hotel?

Embracing gig workers can mean ultimate flexibility and maximizing your hotel's performance on a budget. You would only pay for the workers you need when you need them. The benefits of implementing a gig workforce are apparent. It is time for hoteliers and general management to step away from traditional hiring methods, maintaining an unnecessary and costly labor force, and evolve to the new concept of hiring workers flexibly.

Overall, the gig economy is spawning a new workforce as more and more individuals engage in freelance, on-demand, or temporary work suited to their skills and expertise.

Let's face it. There is an entirely new normal from the devastating circumstances of the pandemic to the uncovering of the exploding gig economy; you have to make sure that your hotel is ready and up to date with the times.

So, what about "gig" Hotel Revenue Management?

Have you thought about the implications the gig economy can have on not only your hotel's operation but your hotel's performance? What if we applied this new concept to hiring on-demand hotel revenue management?

We have to make clear that the revenue management for your hotel is crucial to your property's maximizing profit.

Especially after the hit of the pandemic on the hospitality industry, now is not the time and place to get desperate for something as vital as revenue management. Hotels operating at lower than average occupancy levels due to the pandemic should not undermine the power of a revenue manager/team.

When considering the person or people you want to trust with your property's revenue management, gig work can come in handy. RevOptimum has been performing top-tier remote hotel revenue management for hotels everywhere. For more than ten years, they have been the "gig" work pioneers for revenue management and are America's most successful profit boosters. RevOptimum transforms how the staffing operates and how you can get started with their services.

Just as quick as hiring an Uber, RevOptimum makes it easy to access their expert services. One quick phone call with CEO Scott Frothingham can provide you a comprehensive plan on what RevOptimum will do to raise your revenues for the best performance of your hotel's entire life.

On top of all of this, RevOptimum prides itself on its low-cost options; that way - you only pay for what you need. They offer month-to-month hotel revenue management contracts, so you don't even break a sweat when it comes to making a short-term or long-term revenue management decision.

Think of it this way, hiring a full-time revenue manager can be a pain. While it is great to have someone in-house, you just won't get the same level of expertise. Picture this, instead of just one revenue manager - you can hire a whole team. All of which are overqualified revenue analysts, managers, and professionals who are ready and eager to boost your hotel's bottom line. It is time for a refresh in traditional hiring strategies, embrace the new age of gig work by hiring the revenue management team that has been at it for more than ten years.

Do you want to book Hotel Revenue Management services the same way you book an Uber?

Are you ready to get the personalized service your hotel needs at a fraction of the cost? Today, it is time to give you and your property the attention, expertise, and help it needs.

RevOptimum enables revenue management transformation for the hotel industry and supports hoteliers through our combined 30 plus years of experience, innovative revenue increase structures, and proprietary tools. Every day, we deliver the highest quality levels of revenue performance, client excellence, service quality, and integrity that bring the power of success to the hospitality industry.
We are ready to work with your hotel to build a revenue management plan that brings in more RevPAR closely.

Book with us to learn how you can reach all of your hotel revenue goals on a budget and faster than ever.