Editorial Board   Guest Author

Mr. Spector

Dave Spector

Partner, Tambourine

Dave Spector is a Partner at Tambourine, a marketing technology company specializing in helping hotels and tourism organizations increase revenue. The firm, with offices in Fort Lauderdale and New York City, has doubled in size every year since 2011. The firm is a member of HSMAI, HFTP, AHLA and was recently honored with Travel Weekly and HSMAI's highest awards.

Prior to Tambourine, Mr. Spector was a member of the start-up team at two ventures that grew rapidly and eventually went public, with annual revenues of more than $150M. He specializes in fixing broken marketing tactics and believes marketing teams, like their sales counterparts, should be held accountable for revenue production.

For ten years, Mr. Spector was a Partner and creative director at one of the fastest-growing advertising agencies in the Southeast United States. The agency was sold in 1999 to WPP Group/London (NASDAQ: WPPGY), the world's largest Advertising Agency. The following year, Mr. Spector helped raise $6M in venture capital and co?founded vFinance, Inc, one of the first truly integrated online/offline financial services firms. The firm went public and merged with National Securities (NHLD) in 2009. Today, the firm generates more than $125M in annual revenue worldwide.

In 2005, Mr. Spector was co-founder of a software start-up enabling parents to monitor and protect their children on the internet. The firm partnered with the United States Justice Department and National Crime Prevention Council to launch McGruff Safeguard. Since its inception, the Company has helped more than 300,000 families safeguard their internet activity.

In 2008, Mr. Spector was recruited by Kaseya, a global enterprise software company, to become its Senior Vice-President of Marketing, where he managed an annual marketing budget of $15 million dollars across 17 countries.

Mr. Spector joined Tambourine is 2011 as a Partner and has been instrumental in the firm's rapid growth. Mr. Spector is a frequent public speaker at HSMAI, industry and university events.

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

Mr. Spector can be contacted at +1 561-278-4898 or dave@tambourine.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.