Editorial Board   

Mr. Jordan

Parris Jordan

Managing Director, HVS - Caribbean

Parris Eric Jordan is the Chairman of the Caribbean Hotel Investment Conference & Operations Summit (CHICOS) and the Managing Director of HVS in the Caribbean, where he overseas hospitality consulting and valuation assignments in the Caribbean, the United States, Central America and Mexico. CHICOS, which was founded by Mr. Jordan in 2011, is an annual event which brings together international investors and operators as well as leading hotel investment decision makers, including governmental representatives and international industry and opinion leaders, to discuss the markets, developments and opportunities for hotel growth in the Caribbean region. Mr. Jordan's passion for the successful hospitality development in the region is contagious and his leadership of the CHICOS conferences has garnered increasing attendances each year. During his 15 plus years at hospitality consulting giant HVS, Mr. Jordan has performed hundreds of complex hotel consulting and valuation assignments in at least 25 U.S. states and more than 25 countries around the world. His areas of expertise include hotel market and feasibility studies, appraisals, valuations, operator searches, target market and global expansion strategy development for prominent international hotel brands. Owners, operators and developers repeatedly return to Mr. Jordan for his insight, knowledge, responsiveness and trustworthiness, regarding him as one of the leading industry experts on the Caribbean region. A native of Trinidad, and now residing in New Jersey, Mr. Jordan earned his masters degree from the prestigious Preston Robert Tisch Center for Hospitality and Tourism at New York University where he also lectured for several years as an adjunct professor on lodging development. He is also a member of the Board of Directors at the NYU Tisch Center Alumni Society.

Mr. Jordan can be contacted at 917-902-2314 or pjordan@hvs.com

Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.