Editorial Board   Guest Author

Mr. Sloan

Kell Sloan

General Manager, Fairfield Inn & Suites Moncton NB

At an early age, Kell Sloan was told he wanted to become a concert pianist but with a tin ear, a rebellious streak and a Beach Boys album, Mr. Sloan soon fell in with the wrong crowd and took up professional surfing. At age six, permanently grounded and with no money to buy a surf board, Mr. Sloan sold chocolate bars door to door and found that by developing a compelling unique value proposition and dividing his home town into segments, he was able to focus on neighbourhoods were people were most likely to buy his chocolate bars. And buy they did.

Hiring other kids to sell for him, teaching them the fundamentals of chocolate bar sales, and coaching them to success, Mr. Sloan soon found himself once again grounded but with a surf board and a love of entrepreneurship, marketing and revenue management.

With over 25 + years of hospitality leadership in casinos, restaurants and hotels, if you took an MRI scan of that beautiful brain of his, it would show a large area devoted to thinking of nothing else but strategic planning, demand generation and profit optimization.

Mr. Sloan is currently the General Manager of the Fairfield Inn & Suites, Moncton, New Brunswick and leads an exceptional team of bilingual customer-orientated professionals dedicated to ensuring that every stay is exceptional. Fairfield Inn & Suites is part of the Marriott group of hotels and resorts.

 

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

Mr. Sloan can be contacted at +1 306-209-0981 or kell@kellsloan.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.