Editorial Board   

Mr. Carr

Bob Carr

Chairman & CEO, Heartland Payment Systems

Bob Carr founded Heartland Payment Systems, the nation's fifth largest payments processor in 1997. Under his guidance, Heartland has been named a FORTUNE 1000 company; climbed the rankings from #62 to #5 in the nation and #9 in the world; from 25 to 3,400 employees; from 2,500 to 250,000 business locations and from a portfolio of $0.4 billion in bankcard volume to more than $80 billion. Heartland is the official preferred provider of card processing, gift marketing, check management, payroll and tip management services for the American Hotel & Lodging Association and 38 state lodging associations. Mr. Carr spearheaded The Merchant Bill of Rights (www.merchantbillofrights.org) - a revolutionary public advocacy initiative to promote fair card processing practices on behalf of all business owners. He has been a driving force in the enhancement of payment card security and at the helm of the development of “E3™, (www.E3secure.com) Heartland's end-to-end encryption technology that is designed to protect cardholder data at rest and in motion throughout the lifecycle of card transactions. Mr. Carr received his Master of Science degree in computer science and his Bachelor of Science degree in mathematics from the University of Illinois (Champaign-Urbana), as well as an honorary PhD from Lewis University.

Mr. Carr can be contacted at Bob.Carr@e-hps.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.