Editorial Board   Guest Author

Ms. Sheridan

Martha Sheridan

President & CEO, Providence Warwick Convention & Visitors Bureau

Martha Sheridan is president and CEO of the Providence Warwick Convention & Visitors Bureau (PWCVB). In her role she leads an organization whose mission is to create vibrant growth for the local hospitality economy by promoting, developing, and expanding a united visitor industry. She oversees all day to day operations at the PWCVB, leading a staff of 20 destination sales and marketing professionals. In 2010 Ms. Sheridan spearheaded efforts to form the Rhode Island Sports Commission, now a division of the PWCVB. Ms. Sheridan has over 25 years experience in destination marketing. Prior to her current position she served as Vice President of Sales at the Newport County (RI) Convention and Visitors Bureau. She was recently named one of the 25 Most Influential People in the Meetings Industry by Successful Meetings magazine. Ms. Sheridan just completed a term as Chair of the Destination Marketing Association International, the world's largest association of destination marketing professionals. She has held leadership positions with several local, regional and national organizations including the RI Hospitality and Tourism Association Education Foundation, Meeting Professionals International New England Chapter (MPINE) and the New England Society of Convention and Visitors Bureaus. Ms. Sheridan is the recipient of the Rhode Island Hospitality Association's (RIHA) Mary Brennan Tourism Award for outstanding achievement in tourism promotion and in 2010 was named RIHA Woman of the Year. She is also the recipient of the MPINE President's Award and the MPINE Supplier of the Year Award. In 2013, Ms. Sheridan was presented the Morris J. Gaebe Profile in Excellence Award from Junior Achievement of Rhode Island. She is a graduate of the University of Rhode Island and lives in Wakefield, RI with her husband, Arthur and three children.

Ms. Sheridan can be contacted at 401-456-0224 or msheridan@goprovidence.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.