The Important Role of Emotional Intelligence In Revenue Management
By Nicholas Tsabourakis Founder & Managing Director, Bespoke Revenue Management | September 30, 2018
In previous articles we discussed the importance of Total Revenue Management in-depth, and today I would like to explore a topic that is very important for the progression of any Revenue Management role: emotional intelligence.
As we've seen by now, today's revenue managers have to deal with a lot more than just systems, rate management and reporting. More than analytical skills, revenue managers need to possess communication skills, leadership skills, and they also have to strive to be influential and motivational.
This is where emotional intelligence plays a central role in the career of a revenue manager. If a person in such a position is incapable of being empathic about the challenges of others, and if they're unable to convey how valuable they are & the importance of their contribution, then they're at risk of failing to help others unleash their full potential, which directly affects their success and the performance of the hotel business as a whole.
To understand Emotional Quotient or Emotional Intelligence, let's dive deeper into the subject and see why it's so vital for revenue managers to develop this essential skill.
What Exactly Is Emotional Quotient/Intelligence?
Emotional Quotient, most commonly known as Emotional Intelligence, also referred to as Emotional Intelligence Quotient, in its simplest terms, is the ability that individuals have to both recognise their own emotions and those of others.