Editorial Board   Guest Author

Ms. Smith

Jenna Smith

Vice President of Revenue Management, First Hospitality Group

Jenna Smith has been a part of First Hospitality Group for more than a decade. Starting as a guest services representative in 2004 at the Hampton Inn Ann Arbor North. Ms. Smith has been on a fast track moving up through the company ever since. Having served in a wide variety of positions from sales roles to general manager, Ms. Smith ultimately was elevated to a regional revenue management position before assuming her current position as vice president of revenue management. With a predictive index analyst certification, she is responsible for the delivery of hotel revenue management support for multiple brands and leadership of regional support team, as well as development and execution of effective strategies to achieve market share growth. Over the course of her tenure with First Hospitality Group, she has worked tirelessly on our behalf and our investors. With the state of our industry constantly changing and evolving, Ms. Smith ensures that First Hospitality Group has a voice in the growth and development of all the brands that we manage. An expert in managing high volume demand and well versed in understanding both short and long-term goals, Ms. Smith graduated from Eastern Michigan University with a bachelor's degree in business administration and previously served as a mentor at DePaul University's School of Hospitality Management. First Hospitality Group, headquartered in Chicago, operates hotels of every type and size, from historic rehabs to urban markets. Their strength lies in market knowledge and creating a training culture where one can work smart to succeed and have fun.

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

Ms. Smith can be contacted at 214-855-6000 or jsmith@fhginc.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.