Editorial Board   Guest Author

Mr. Peter

Tim Peter

Founder, Tim Peter & Associates

Tim Peter is an award-winning hospitality marketing executive with more than 20 years of experience developing successful, cutting-edge e-commerce and digital marketing programs. Prior to founding Tim Peter & Associates, a full-service e-commerce and internet marketing consulting firm in early 2011, Mr. Peter worked with the world's largest hotel franchisor and the world's premier independent luxury hotel representation firm to help hotels and resorts across diverse segments achieve billions of dollars of online revenue.

Mr. Peter's writings have appeared in many trade publications, and his blog, "Tim Peter Thinks," attracts a large following each month. He writes a column for Hotel News Now and frequently comments on Internet marketing and e-commerce topics in publications, including the New York Post, Hotel Management and Hotel News Now. His first book is due out in 2018.

Recognized as one of HSMAI's Top 25 Extraordinary Minds in Hospitality Marketing and Sales, Mr. Peter focuses on digital marketing, consumer behavior, and e-commerce strategy. His work leverages lessons learned from life in the trenches of digital marketing and e-commerce for some of the world's most widely known brands and how those lessons apply today.

An in-demand speaker, Mr. Peter has presented to global audiences in public and private events. He teaches courses in digital marketing strategy and operations for Rutgers Business School and the Mendoza College of Business. He is also the author of several white papers, including “Digital Hotel Marketing in a Multiscreen World,” “When More is More: Upselling as a Sales & Marketing Tactic,” and “Engaging Online Travel Shoppers Through Integrated Marketing.”

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

Mr. Peter can be contacted at 201-305-0055 or tim@timpeter.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.