HOUSTON--(BUSINESS WIRE)--PROS (NYSE: PRO), the world leader in pricing and revenue management software, today announced that two of the industry’s most renowned revenue management authorities will deliver keynote addresses at the company’s upcoming event. The PROS 17th Annual Revenue Management Conference is the industry’s premiere forum for the best minds in the travel industry. It attracts an unparalleled caliber of senior executives from around the world, spanning passenger and cargo airlines, hotels and cruise lines.
Headlining the event will be Dr. Karl Isler, head of revenue management strategy and operations research at Swiss International Airlines (SWISS), and Dr. Peter P. Belobaba, principal research scientist at the Massachusetts Institute of Technology (MIT).
The forum, scheduled for Sept. 21-22 at Chicago’s Westin Michigan Avenue, is the largest and most well-attended event of its kind in the industry. The conference is regarded as the gathering place where delegates from around the world gain rich insight and knowledge about pricing and revenue management trends, and business strategy innovations. Participants return to the conference year-after-year to stay abreast of the latest market trends.
“PROS brings a legacy in pricing and revenue management innovation and thought leadership for our customers around the world. Our annual conference provides the forum to keep them abreast of the evolving trends in the global travel industry,” said PROS Senior Vice President John Billings. “This year’s conference will again set new standards. Delegates will hear from the best minds in the business, with speakers who are the leading experts and authorities on revenue management.”
Isler’s address is titled “Disentangling Pricing and Revenue Management … Again.” His keynote will outline one of the major achievements of the last few years: the inclusion of pricing in the revenue management equation, which resulted in hybrid forecasting and optimization. He proposes a new approach with two different forecasts – one for calculating bid prices and another for estimating price elasticity for the online evaluation that can be conditioned on arbitrary information in the request.
Belobaba will deliver his address titled “Alliance Revenue Management in Practice.” His keynote will highlight how revenue management performance can be affected by how alliance bookings are communicated, recorded, forecasted, optimized and controlled. Belobaba will examine the revenue and traffic impacts of common revenue management and availability schemes for code-share itineraries, including recent developments in bid-price sharing and dynamic evaluation methods for origin and destination (O&D) control systems.
About the Keynote Speakers
Isler developed the concepts for integrated O&D pricing and inventory control that SWISS has used since 2003. He is on the editorial board of the Journal of Revenue and Pricing Management and co-author of one of the ten milestone papers published over the last ten years. Isler has published articles on integrating pricing and revenue management; revenue management and pricing under competition; and distribution strategy. He regularly speaks at global industry conferences on the subject of revenue management, pricing and distribution.
At MIT, Belobaba teaches graduate courses on the airline industry and airline management. He is the program manager of MIT’s Global Airline Industry Program and director of the PODS Revenue Management Research Consortium. Belobaba has published articles in a variety of industry journals, and is the lead author of the recently released book titled The Global Airline Industry. He has been involved in research related to airline economics, pricing, competition and revenue management since 1985. Belobaba has worked as a consultant on the development and implementation of revenue management systems at more than forty airlines and other companies worldwide.
About PROS
PROS Holdings, Inc. (NYSE: PRO) is a leading provider of prescriptive enterprise pricing and revenue management software products, specializing in price analytics, price execution, and price optimization. By using PROS' software products, companies gain insight into their pricing strategies, identify pricing-based profit leaks, optimize their pricing decision making and improve their business processes and financial performance. PROS' software products implement advanced pricing science, which includes operations research, forecasting and statistics. PROS high performance software architecture supports real-time high volume transaction processing and allows PROS to handle the processing and database requirements of the most sophisticated and largest customers, including customers with hundreds of simultaneous users and sub-second electronic transactions.
PROS has implemented over 500 solutions across a range of industries in more than 50 countries.
Founded in 1985, PROS is headquartered in Houston, Texas. Today, PROS has over 400 employees, more than 100 with advanced degrees and over 25 with Ph.D.s. To learn more about PROS, please visit www.prospricing.com.
Forward-looking Statements
This press release contains forward-looking statements, including statements about the functionality of the PROS products and their ability to manage and forecast across an enterprise. The forward-looking statements contained in this press release are based upon PROS' historical performance and its current plans, estimates and expectations, and are not a representation that such plans, estimates or expectations will be achieved. Factors that could cause actual results to differ materially from those described herein include PROS' ability to develop new products and product enhancements with the required functionality desired and PROS' ability to implement and support successfully its products to the expectations of its customers. Additional information relating to the uncertainty affecting the PROS business is contained in PROS' filings with the Securities and Exchange Commission. These forward-looking statements represent PROS' expectations as of the date of this press release. Subsequent events may cause these expectations to change, and PROS disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise.