Editorial Board   Guest Author

Mr. Shea

Timothy Shea

President, ASSA ABLOY Hospitality

As president of ASSA ABLOY Hospitality (formerly known as VingCard Elsafe), Tim Shea leads the company in providing the most advanced solutions in electronic locking, guestroom safes and energy management system technologies to the global hospitality market. A true industry veteran with an extensive background in multichannel sales of industrial electro-mechanical products, Mr. Shea has leveraged this expertise to successfully develop and execute a multi-year business plan that resulted in significant improvements in both fiscal performance and operational efficiencies. Under Mr. Shea's direction, ASSA ABLOY Hospitality has undergone a company-wide restructuring that is responsible for the organization's enhanced ability to achieve service orientation in mature markets, streamline R&D operations and the establish clear brand leadership around the world. Since taking on this role, he has been the force behind several new product developments that have solidified ASSA ABLOY Hospitality's position as the technology leader in the hotel locking and security market. Prior to joining ASSA ABLOY Hospitality in 2004, Mr. Shea amassed over two decades of experience as a top management executive at several prominent multinational organizations. Throughout his successful career, he has been directly credited with reversing negative trends at several under-performing organizations, and ultimately converting them into efficient and profitable operations. Mr. Shea currently serves on the board of various membership associations, including the Stuart Dean Company, Timelox AB Sweden, Wise Union Hong Kong and VingCard A.S. His educational background includes a B.S. in mechanical engineering from Lehigh University and an M.B.A. in management from Fairleigh Dickinson University. Mr. Shea continues to augment his extensive knowledge and expertise by continuing his education through institutions such as the IMD Business School in Lausanne, Switzerland.

Mr. Shea can be contacted at 972-907-2273 or Timothy.Shea@assaabloy.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.