Editorial Board   Guest Author

Mr. Speranza

Frank Speranza

President, Hospitality Talent Scouts Executive Search

Frank Speranza is President of New York City based Hospitality Talent Scouts Executive Search. In 2005, Mr. Speranza, then Vice President of Operations with Interstate Hotels and Resorts, announced his plans to leave Interstate after 10 years to start Hospitality Talent Scouts, Inc. (HTS). Mr. Speranza credits his successful hospitality career with his ability to hire the right people for the right positions at the right time. His belief that there is a tremendous need for a timely, cost-effective source of talented, qualified people in the hospitality industry, and a lack of qualified people to provide this source, inspired him to launch HTS. Mr. Speranza began his 10-year career with Interstate as General Manager of the Somerset Marriott in Somerset, New Jersey. He originally joined Interstate with MeriStar Hotels & Resorts, which merged with Interstate Hotels in 2002. Mr. Speranza spent the last 5 years of his career with Interstate as an Operational Vice President, overseeing portfolios of branded and upscale independent hotels, including those in Toronto, New York City, Washington, D.C., Orlando, and other major U.S. cities. His portfolio sizes ranged from 15 to 26 hotels each. In his span of time with Interstate, he was affiliated with 70 different hotels in 30 different markets. Prior to joining Interstate Hotels & Resorts, Mr. Speranza spent 10 years directly working in New York City hotels. His positions included General Manager of The Kimberly Suites Hotel, Resident Manager of Hilton's Waldorf=Astoria Hotel, Opening Executive Assistant General Manager of The Macklowe Hotel and Conference Center, now known as The Millennium Broadway Hotel and Conference Center, and Rooms Division Manager of Hilton International's New York Vista Hotel at The World Trade Center, later known as The Marriott World Trade Center before its destruction in 2001.

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

Mr. Speranza can be contacted at 212-564-3334 or fms@hospitalitytalentscouts.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.