Editorial Board   Guest Author

Mr. Watson

Scott Watson

Executive Vice President of Sales & Marketing, M3 Accounting + Analytics

Scott Watson graduated from the University of Arkansas and has since built a direct sales, sales management, and sales and marketing career that has spanned three decades focused specifically in the financial software and technology industries.

Mr. Watson finds tremendous value in matching the needs of hoteliers to the solutions and resources provided by M3. This approach allows M3 to help their customers succeed by driving financial performance, visibility and transparency.

Mr. Watson leads M3's sales and marketing teams in an effort to achieve short-term objectives and increase awareness of the M3 brand, while working as a member of the executive team to help develop long-term strategies that will ensure M3's continued growth and expansion as a global company. Since joining the company, M3 has realized consistent record growth and the customer base has grown by almost 100%.

As Executive Vice President Sales and Marketing for M3, Mr. Watson has been happy to accept invitations to participate as a panelist at The Americas Lodging Investors Summit (ALIS), to speak on the value of hosted technology solutions at HITEC (The Hospitality Industry Technology Exhibition and Conference) and to sit on the Advisory Board for Missouri State University's College of Hospitality Leadership.

Mr. Watson is currently spending time in the U.K. in preparing M3 for their global launch. Mr. Watson's time at the University of Arkansas coincided with the last two years of Lou Holtz's tenure as Head Football Coach. One of Mr. Watson's favorite quotes comes from Coach Holtz. “Ability is what you're capable of. Motivation determines what you do with those abilities. Attitude determines how well you do it."

Mr. Watson can be contacted at 770-531-3730 or Scott@m3as.com

Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.