Editorial Board   Guest Author

Mr. Kohlmayr

Klaus Kohlmayr

Chief Evangelist, IDeaS Revenue Solutions

As IDeaS Chief Evangelist, Klaus Kohlmayr challenges strategic processes, stimulates thought-provoking conversations and reinvigorates the future of revenue management and pricing within the hospitality and travel industries.

A natural contrarian, Mr. Kohlmayr  has challenged the status quo for over 20 years. He re-joined IDeaS from TSA, where he led the company's global commercial, operations and strategic partnership initiatives. During his previous stint with IDeaS, he started the company's global consulting division -- leading a team that partnered with top hotel companies. Together they pioneered the industry's first group price optimization and function space revenue management proof-of-concepts in a real-world environment.

Mr. Kohlmayr  developed his passion for the hotel industry at the Hotel Management and Catering School in Villach, Austria, where he received a Bachelor of Science in Hotel Management. An advocate of lifelong learning, he has since studied business at Henley Management College, real estate investment and asset management at Cornell University's School of Hotel Administration; and finance and strategy at the Singapore Management University.

Mr. Kohlmayr as been an active participant in various advisory boards, including HSMAI in Asia Pacific and the Americas, and the Cornell-Nanyang Institute of Hospitality Management, Singapore. He not only loves to challenge the status quo, but wholly welcomes being challenged in new ways of thinking.

Mr. Kohlmayr can be contacted at 612-840-3301 or Klaus.Kohlmayr@tsa-solutions.com

Coming up in October 2020...

Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.