Editorial Board   Guest Author

Ms. Friedman

Laurie Friedman

Founder & Chief Executive Officer, Strategic Business Consulting

Laurie Friedman is founder and CEO of Strategic Business Consulting, an independent consulting firm in Bethesda, Maryland. SBC provides both strategic and tactical tools to enhance leadership development and improve organization, team, and individual performance. Ms. Friedman holds a Master's Degree in Human Resources and Organization Development from The George Washington University and she is a certified Myers Briggs Type Indicator, DISC and Action Learning facilitator.

Ms. Friedman is a certified executive coach, change strategist and business consultant with over a decade of experience working with organizations to design and develop results-focused strategies to improve business results. Her clients have included senior level executives to line managers from diverse organizations including numerous non-profits.

Ms. Friedman is a results-focused business coach, trainer and facilitator with a proven track record. She is known for effectively partnering with C-level executives to improve personal effectiveness and team alignment. She incorporates a high-touch, targeted, facilitative approach to leadership development training, business coaching, change strategies, and strategic thinking. Ms. Friedman has designed, developed and delivered dozens of high impact leadership development programs from new supervisor training to creative leadership, conflict management and team-building workshops. In 2015 Ms. Friedman was awarded the Sherpa Coach of the Year award in recognition of mastery and advancement of Sherpa Coaching. (www.sherpacoaching.com).

Her work on compassionate leadership has led her to develop tools and strategies to help leaders learn to not take things personally and have a more positive attitude at work.

Please visit http://sbcstrategy.com for more information.

Ms. Friedman can be contacted at 301-320-3960 or laurie@sbcstrategy.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.