Editorial Board   Guest Author

Mr. Foley

Tim Foley

Vice President of Operations, Spire Hospitality

Tim Foley, an industry veteran with more than 32 years of experience, serves as Spire Hospitality Vice President of Operations. Mr. Foley brings a wealth of experience and proven results in Resort Operations, Brand Repositioning, Asset Management and Food & Beverage Operations. Spire Hospitality, based in Chicago, Ill., is a third-party operator of 6,293 room keys and nearly 400,000 square feet of meeting space in hotels including unique independents and across celebrated brands such as Hilton Hotels & Resorts, (IHG) InterContinental Hotels Group and (MAR) Marriott International. Spire Hospitality offers expertise in all facets of hospitality management and is committed to preserving, protecting and enhancing the value of hotel real estate.

Prior to joining Spire, Mr. Foley held the position of Vice President of Asset Management with Tiburon Capital, where he had oversight responsibilities of a number of large destination resorts.  In addition to this role, Mr. Foley has held numerous general manager and executive committee positions with Interstate Hotels, Wyndham Hotels, Meristar Hotels and Registry Hotels. These properties represented Independent Brands, Major Brands and Conference Centers.

Mr. Foley attended Illinois State University, where he majored in Sociology and minored in Industrial Psychology.

Spire Hospitality, one of the nation's leading and most respected hotel management companies, identifies and implements green initiatives across its nearly two-dozen managed properties, aiding in the reduction of the environmental impact of the industry, serving as good stewards for the earth's resources and the communities where each hotel calls home and forecasting how integrating simple, sustainable practices can positively impact the bottom line.

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

Mr. Foley can be contacted at 847-498-6650 or tfoley@spirehotels.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.