Editorial Board   Guest Author

Ms. Adair

Nicole Adair

Area Director of Revenue Management, SHR

Nicole Adair joined SHR in 2015 after working in corporate revenue management for a diverse portfolio of hotels across the mainland United States and Hawaii. As a Certified Revenue Management Executive, she has extensive experience in directing connectivity and channel interfacing initiatives for multiple CRS, PMS, and channel management platforms. Her effective room inventory and channel management strategies have resulted in double-digit revenue growth and positive RevPAR index percent change across a large portfolio of properties. Ms. Adair has widespread experience working with several independent properties and brands in varying markets from urban hotels to beach resorts, and she draws on this experience when directing revenue strategy initiatives for SHR clients. Ms. Adair holds a Bachelor of Arts in Russian and is currently pursuing her Master of Science in Hospitality Management.

Please visit www.shr.global for more information.

Ms. Adair can be contacted at 800-252-0533 or nadair@shr.global

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.