Editorial Board   

Mr. Poad

Jim Poad

Director of Client Solutions, Advantage IQ

Jim Poad, a 30-year energy industry veteran, serves as Director of Client Solutions for expense and energy management firm, Advantage IQ. In this capacity, Mr. Poad is responsible for developing and directing the Company's energy management programs on behalf of clients. He works with clients to develop and implement a customized strategy to better manage energy usage, reduce overall operational costs, and meet overriding corporate objectives. He has helped clients save millions of dollars through the implementation of supply-side and demand-side initiatives. Prior to his position at Advantage IQ, Poad served as Director, Business Development for Johnson Controls, Inc, Prenova, and also served as Director, Strategic Business Development for TXU Energy. At TXU, he first served as Regional Marketing Director for the Chicago region. In this role he was responsible for project evaluation, commodity sales and delivery for both electric power and natural gas, as well as facility sales. Later, he was appointed Director of Strategic Business Development, a role which required identifying and developing comprehensive energy management and outsourcing engagements for Fortune 500 companies with extensive energy requirements. Earlier, Poad held a number of positions with Wisconsin Power and Light Company and Alliant Energy. He worked in operations, administration, and sales management with these companies, and received several awards for operational excellence, marketing success and exceptional safety records.

Mr. Poad can be contacted at 608-755-1650 or jpoad@advantageiq.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.