Editorial Board   

Mr. Ortiz

Joseph Ortiz

President, IPIX InfoMedia

Joseph L. Ortiz is a technology development and commercialization consultant with over 20 years of experience in driving innovations to the marketplace. He most recently was Officer and Vice President at IPIX Corporation, where he was managing director of their InfoMedia business unit. Mr. Ortiz defined the unit's strategic vision and business plan, restarting the IPIX Virtual Tour Photography and Movies business that represented the foundation of Internet Pictures Corporation's $72M NASDAQ IPO. Previously, Mr. Ortiz was regional business unit manager at Philips Consumer Electronics responsible for launching the company's first digital photography product in the US. Mr. Ortiz has held various senior technical and business positions within the computer and electronics industries at companies including NCR, Motorola, and startups Pencom Software and On-Demand Technologies. He holds an MBA from Arizona State University, an MS in Computer Engineering from the University of South Carolina, and a BS in Computer Science from Georgia Institute of Technology.

Mr. Ortiz can be contacted at 865-220-6544 or joseph.l.ortiz@gmail.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.