Editorial Board   Guest Author

Mr. Shea

Timothy Shea

President, ASSA ABLOY Hospitality

As president of ASSA ABLOY Hospitality (formerly VingCard Elsafe), Timothy 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, Mr. Shea has been the force behind several new product developments that have solidified ASSA ABLOY Hospitality 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, Mr. Shea has been directly credited with reversing negative trends at several under-performing organizations, and ulMr. Sheaately converting them into efficient and profitable operations. Mr. Shea currently serves on the board of various membership associations, including the Stuart Dean Company, Mr. Sheaelox 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.

Please visit www.assaabloy.com for more information.

Mr. Shea can be contacted at 468-506 485 00 or info@assaabloy.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.