Editorial Board   Guest Author

Ms. Starr

Lisa Starr

Principal, Wynne Business

Lisa Starr is the Principal of Wynne Business Consulting & Education, specializing in spa, wellness & salon businesses. Ms. Starr has over 35 years of experience in the beauty & wellness industry. She began her career as a makeup artist with her own line of products, which expanded into multiple salons and spas, and then transitioning into a variety of salon and spa management roles. This management path ultimately lead to a position as general manager of a regional spa chain.

Ms. Starr has spent the last 18 years as a consultant and educator, helping owners and operators of spas and wellness facilities maximize their operations performance in both front and back of the house. She has accomplished this while providing exceptional experiences for clients and guests at the same time. Ms. Starr's particular areas of focus include operations, finances & staff compensation, marketing, inventory management, retailing, human resource & leadership development, and business process improvement.

Ms. Starr is the Task Force Chair for the Global Wellness Institute's Consulting Initiative, a Contributing Editor at Dayspa Magazine, and a regular contributor to global trade publications including Spa Business, Spa China and Spa Opportunities a highly-rated speaker at spa and beauty industry conferences, and offers live one-, two- and three-day spa management courses across the globe, as well as through an online learning portal. Ms. Starr is a member of the Institute for Management Consulting.

Please visit http://www.wynnebusiness.com for more information.

Ms. Starr can be contacted at +1 610-368-6660 or lstarr@wynnebusiness.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.