Editorial Board   Guest Author

Mr. Hudson

Michael Hudson

Senior Vice President Hotel Analytics Division, Groups 360

Michael Hudson, CRME, MBA, is a former Walt Disney Imagineer with more than 20 years experience in engineering design, data analysis and user-experience development. Throughout his career at Disney, he helped open two theme parks and numerous ride systems across both coasts. He championed using data visualization and predictive analytics to improve ride reliability. In 2006, he was recruited by Gaylord Entertainment to graft his Disney experience onto hotel development. He created innovative retail and sports bar experiences for hotel guests and brokered strategic partnerships with the MLB and The Smithsonian. From there, he transitioned to help form a new team centralizing revenue management and yield strategies for the brand. Based on experiences yielding group business during the 2009 downturn, Mr. Hudson then founded Grouponomics to help bring event-performance transparency to the Sales and Revenue Management teams within the Hotel Industry. He focused on creating an application that unlocks data collecting digital cobwebs in CRM systems/spreadsheets. Grouponomics provides Sales, Revenue Management, Hotel Executives and Asset Managers a summarized view of Group business to contract displayed in easy to grasp Key Performance Indicators and communicated with the best practices in modern data visualization. If you can't measure it, you can't change it. After successfully growing for five years, Grouponomics was acquired by Nashville based, Groups360 in 2015. Mr. Hudson joined Groups360 as Head of Strategy, Hotel Analytics Division. Mr. Hudson remains dedicated to continuing to deliver transparency to both sides of the Hotel/Meeting Planner equation. When data is transformed from an ugly tabular system to a format that tells a story, that's when you truly unlock the potential of a collaborative sales process. Effective communication only happens when data is set free; Knowledge for both sides creates efficiency and maximizes profits for all.

Please visit http://www.groups360.com for more information.

Mr. Hudson can be contacted at 615-669-6338 or michael.hudson@groups360.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.