Editorial Board   Guest Author

Dr. Tracey

Bruce Tracey

Professor of Management, Cornell University's School of Hotel Administration

Dr. Bruce Tracey is a Professor of Management at Cornell University's School of Hotel Administration. Since joining the faculty in 1992, he has taught courses in strategic and human resources management and leadership for undergraduate, graduate, executive, and online audiences throughout the world.

Dr. Tracey's research examines a wide range of topics, including factors that influence the effectiveness of training and development initiatives, the nature and roles of flexible HR systems, causes and costs of employee turnover, scale and measurement development, and HR implications for legal compliance.

Dr. Tracey has presented his work at numerous regional, national, and international conferences, and his research has been published in diverse outlets such as the Journal of Applied Psychology, the Journal of Management, the Cornell Hospitality Quarterly, the International Journal of Contemporary Hospitality Management, and the University of Pennsylvania Journal of Labor and Employment Law.

Dr. Tracey's sponsors for research, consulting, and executive training include the American Hotel and Lodging Association, Four Seasons Hotels and Resorts, Hilton Worldwide, Marriott International, Mövenpick Hotels and Resorts, the Kessler Collection, Blue Hill Farm, Hillstone Restaurant Group, Uno Chicago Grill, among other companies, and he has been cited in USA Today, the New York Times, Fast Company, Powder Magazine, Times-Picayune/nola.com, Orlando Sentinel, wgbh.org, ehotelier.com, and other popular press and online outlets.

Dr. Tracey is also serving as a second-term Editor of the Cornell Hospitality Quarterly, and is the Vice President for the International Network of Business and Management Journals, which promotes professional development for emerging scholars.

Please visit http://www.cornell.edu for more information.

Dr. Tracey can be contacted at +1 607-255-8555 or jbt6@cornell.edu

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.