Editorial Board   Guest Author

Mr. Suomi

Michael Suomi

Principal and Vice President Interior Design, Stonehill & Taylor

Michael Suomi is Principal and VP of Interior Design at Stonehill & Taylor where he leads the firm's interior design practice. Mr. Suomi has an extensive background in creating unique and high-profile hospitality projects for a long list of clients including Hilton, Hyatt, Marriott, and Disney, as well as a number of independent hotel brands. His approach to design is based on the idea of developing a strong narrative for each project based on its distinct characteristics such as its history, location, and cultural significance. His design vision ensures that a close link to the concept is maintained from initial programming and planning, all the way to the smallest executional detail. Mr. Suomi leads in the area of social sustainability in design, championing the use of design's purchasing power to create jobs and lift economies. His work for hotels and restaurants has been recognized through various industry awards including the HD Awards and Boutique Design Awards. Mr. Suomi is the co-founder of Futuregreen Hospitality Forum in partnership with Interior Design Magazine, which brings together hotel brands, designers and manufacturers every year to determine and implement actionable steps for positive impact in the near future. He also serves on the Advisory Board of Radical Innovation, an annual competition that challenges the hotel industry by seeking new ideas in design and operations. His prior executive experience includes: Rockwell Group - Senior Associate, Studio Design Director; Jordan Mozer and Associates - Director of Architecture; MacEwen + Mr. Suomi - President, Director of Design.

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

Mr. Suomi can be contacted at 212-226-8898 or email@stonehilltaylor.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.