Editorial Board   

Mr. Henkin

Gary Henkin

President & Founder, WTS International

As President and Founder of WTS International, Mr. Henkin has over 30 years of experience in the planning, design and management of health clubs, spas and athletic facilities of all types. He has also coordinated and developed numerous feasibility and needs assessment studies for prospective spa and/or health club properties. WTS International has grown during the past three decades to become one of the world's largest and fastest-growing leisure consulting and operating firms. At present, the firm has approximately 1,000 employees worldwide and provides its services to hotels, resorts, luxury residential properties, exclusive golf and country clubs, day spas and real estate developments throughout the United States and overseas. A frequent speaker at industry and real estate conventions, Mr. Henkin has also published numerous articles related to spa or health club design and management in such publications as Real Estate Today, Hotel Business, Club Management, Club Business Magazine, Real Estate Forum, Resort Management Magazine, Club Director and Boardroom. His speaking engagements include addresses to the attendees at B.O.M.A. (Building Owners and Managers Association), I.H.R.S.A. (International Hotel and Racquet Sports Association) and Club Managers Association of America national conventions. He received a Bachelor of Science Degree from the University of Maryland in 1966. Presently, Mr. Henkin resides in Maryland with his wife and is active in a number of Washington, D.C. charitable foundations.

Mr. Henkin can be contacted at 301-622-7800 or ghenkin@wtsinternational.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.