Editorial Board   Guest Author

Ms. Sheridan

Martha Sheridan

President & CEO, Providence Warwick Convention & Visitors Bureau

Martha Sheridan is president and CEO of the Providence Warwick Convention & Visitors Bureau (PWCVB). In her role she leads an organization whose mission is to create vibrant growth for the local hospitality economy by promoting, developing, and expanding a united visitor industry. She oversees all day to day operations at the PWCVB, leading a staff of 20 destination sales and marketing professionals. In 2010 Ms. Sheridan spearheaded efforts to form the Rhode Island Sports Commission, now a division of the PWCVB. Ms. Sheridan has over 25 years experience in destination marketing. Prior to her current position she served as Vice President of Sales at the Newport County (RI) Convention and Visitors Bureau. She was recently named one of the 25 Most Influential People in the Meetings Industry by Successful Meetings magazine. Ms. Sheridan just completed a term as Chair of the Destination Marketing Association International, the world's largest association of destination marketing professionals. She has held leadership positions with several local, regional and national organizations including the RI Hospitality and Tourism Association Education Foundation, Meeting Professionals International New England Chapter (MPINE) and the New England Society of Convention and Visitors Bureaus. Ms. Sheridan is the recipient of the Rhode Island Hospitality Association's (RIHA) Mary Brennan Tourism Award for outstanding achievement in tourism promotion and in 2010 was named RIHA Woman of the Year. She is also the recipient of the MPINE President's Award and the MPINE Supplier of the Year Award. In 2013, Ms. Sheridan was presented the Morris J. Gaebe Profile in Excellence Award from Junior Achievement of Rhode Island. She is a graduate of the University of Rhode Island and lives in Wakefield, RI with her husband, Arthur and three children.

Ms. Sheridan can be contacted at 401-456-0224 or msheridan@goprovidence.com

Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.