Editorial Board   Guest Author

Mr. Jerome

David Michael Jerome

SVP Corporate Responsibility, InterContinental Hotels Group

David Michael Jerome is the Senior Vice President for Corporate Responsibility at InterContinental Hotels Group based in the United Kingdom. IHG leads the industry in environmental innovation with its guide to sustainable hotel building, construction and operations. IHG is also leading in community investment and local economic development, with over 4200 hotels globally. Before joining IHG in 2006, Mr. Jerome led Corporate Affairs for AB InBev, the world's largest brewer. Prior to AB InBev, Mr. Jerome worked for General Motors in a variety of staff and operational roles. He was head of GM Korea before assuming responsibility for GM's global reputation and corporate responsibility activities. Mr. Jerome practiced law in Washington, D.C. before joining GM.

Mr. Jerome can be contacted at 004401895512324 or david.jerome@ihg.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.