Editorial Board   

Mr. Welty

John Welty

President, SUITELIFE Underwriting Managers, Ryan Specialty Group

John Welty is the president for SUITELIFE® Underwriting Managers, an all-lines insurance and risk program for premier hotels, resorts, luxury boutiques, gated communities and hotel management companies administered by Ryan Specialty Group, RSG Underwriting Managers. RSG is an international specialty insurance organization that provides innovative solution for brokers, agent and insurance carriers.

At SUITELIFE, Mr. Welty is responsible for leading the program's underwriting team and maintaining the company's top-tier carrier relationships. He is responsible for pro-actively and strategically managing the retention and growth of the SUITELIFE through disciplined underwriting, managing program profitability, and program expansion and development.

Mr. Welty oversees all aspects of the SUITELIFE program from underwriting, broker relationships, marketing, carrier relationships, employee growth opportunities, and client relationships to ensure a steady, profitable, and expanding program. 

Mr. Welty has worked in the insurance industry for more than 30 years, specializing in commercial risks. Prior to joining RSG, he was a practice leader at Venture Programs, Inc. and before that, was casualty manager for the Mid-Atlantic region of American International Group in Philadelphia for nine years. There, he oversaw large deductible casualty placements. Prior to his time at AIG, Mr. Welty was a member of Hartz Consulting Group, LLC, a regional, full-service brokerage and consulting firm.

Mr. Welty has a bachelor's degree from Duquesne University and an associate's degree in risk management from the Insurance Institute of America.

Please visit http://suitelifeum.com for more information.

Mr. Welty can be contacted at +1 610-989-2760 or jwelty@suitelifeum.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.