Editorial Board   

Mr. Ricketts

Mark Ricketts

President & Chief Operating Officer, McNeill Hotel Company

Mark Ricketts serves as President and COO of McNeill Hotels. Prior to joining McNeill Hotel Company, Mr. Ricketts spent the previous seven years serving as Vice President of Hotel Asset Management in the Realty Management Division for Goldman Sachs in Irving, TX.

In his capacity, Mr. Ricketts provided hotel asset management oversight for a portfolio of over 300 properties, spanning 10 brands and 27 flags while working with nearly twenty (20) management companies. Mr. Ricketts has nearly 35 years of experience in the hotel industry, starting as a Hotel General Manager at the age of 23 years old.

Mr. Ricketts previously worked as Vice President of Asset Management for Equity Inns, Inc., a publicly traded Hotel REIT based in Germantown, TN. At the time of its sale to Goldman Sachs, Equity Inns was the 3rd largest Hotel REIT in terms of number of hotels owned.

Prior to Equity Inns, Mr. Ricketts served as the Vice President of Hotel Operations for Memphis, TN based MASTER Hospitality Services. In his role, the company received the prestigious "Partnership Circle Award" from Marriott International in 2004. In addition, the company's Courtyard by Marriott hotel in Tupelo, MS won the Marriott "Courtyard of the Year" award for two consecutive years.

Mr. Ricketts was recently named to serve as a member of the Home 2 Suites by Hilton Owner Advisory Council (OAC). In addition, he has served on the Hampton Brand Operations Council since 2000 and was a past member of the Hyatt Place Operations Advisory Committee. He previously served on the Board of Directors for both the Memphis Convention and Visitors Bureau and Memphis Hotel & Lodging Association from 2000-2008.

Please visit http://www.mcneillhotels.com for more information.

Mr. Ricketts can be contacted at +1 901-322-4806 or mricketts@mcneillhotels.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.