Editorial Board   

Mr. Slye

Jeff Slye

Senior Consultant, Five Winds International

Jeff Slye is a Senior Consultant with Five Winds International and has fifteen years of consulting and software solutions expertise and has led and created sustainability initiatives for organizations across the United States and Canada. Mr. Slye combines his business background and commitment to sustainability to offer a unique perspective on sustainability issues and their relationship to core business objectives and processes of organizations. He is a specialist within the hospitality industry and has worked with over 100 hotels and restaurants, including Kimpton Hotels and Restaurants and Destination Hotels and Resorts and is currently a member of the American Hotel and Lodging Association's Sustainability Task Force. Mr. Slye's background prior to Five Winds International was as CEO of Business Evolution Consulting (BEC), a sustainability consulting firm. Prior to BEC, he was in business development and international affairs with a high-tech communications firm and lived in London heading up the company's European business development efforts. Mr. Slye is a cum-laude graduate from the University of California, Los Angeles (UCLA) with an emphasis on international relations.

Mr. Slye can be contacted at 415-871-1932 or j.slye@fivewinds.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.