Editorial Board   Guest Author

Mr. Iwamoto

Kevin Iwamoto

Vice President of Industry Strategy, Lanyon

As Vice President of Industry Strategy, Kevin Iwamoto guides Lanyon¡¯s overall strategy for engaging with buyers and suppliers in the meetings, events, association, and corporate travel industries. Iwamoto also works with key influencers to raise awareness of the benefits of Strategic Meetings Management (SMM). Prior to joining Lanyon, Iwamoto was Vice President of Industry Strategy with ACTIVE Network¢â Business Solutions, a leading provider of event-marketing and SMM technology for enterprise organizations, Small-to Mid-sized Businesses, and associations. Iwamoto also worked as a key manager at Hewlett-Packard on the global travel and meetings team, where he served as global corporate card, hotels, and meetings category manager. Before Hewlett-Packard, he served as a senior travel account manager with The Walt Disney Company and as a corporate sales manager with Northwest Airlines. Iwamoto is a former President and CEO of the Board of Directors for the Global Business Travel Association (GBTA). He has been honored with every major business travel industry accolade, including the GBTA¡¯s Industry Icon Award¦¡the association¡¯s highest honor. In 2004, Iwamoto was awarded the prestigious GBTA President¡¯s Award for his numerous industry contributions and leadership. In 2003, Business Travel Executive named him one of 13 Top Visionaries in business travel. In 2002, Business Travel News named him one of the top 25 most influential executives in business travel, as well as Travel Manager of the Year. Iwamoto is a sought after spokesperson representing business travel interests globally to the U.S. Congress and the media, and he frequently speaks at industry events. He holds a Bachelor of Science degree in business administration from the University of Hawaii, Honolulu, and a Global Leadership Professional Masters designation from the Wharton School of Business.

Please visit www.lanyon.com for more information.

Mr. Iwamoto can be contacted at 408-202-0586 or kevin.iwamoto@lanyon.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.