Editorial Board   Guest Author

Ms. Leffet

Chelsey Leffet

Director, HVS

Chelsey Leffet is Director and leader of the Washington, D.C. Consulting and Valuation office. HVS Consulting & Valuation has over 40 office nationwide. Ms. Leffet has appraised hundreds of hotels in the Mid-Atlantic region, including Washington, D.C. and in major Beltway markets.

Before joining HVS in Wilmington, Delaware in 2012, Ms. Leffet served in guest services, operations, and hospitality roles at ARAMARK Higher Education; Lighthouse Resort Services in Corolla, North Carolina; the Columbus Inn in Wilmington, Delaware; and the Bellmoor Inn and Spa in Rehoboth Beach, Delaware.

Ms. Leffet graduated magna cum laude with a BS in Hospitality Management, minoring in Business Administration, and earned a Master's in Business Administration, from East Carolina University. Having gained operational and front-line experience, She desired to switch to the investment and financial side of the hospitality industry following her educational career.

Ms. Leffet completed over 400 hours of educational coursework and 3,000+ experience hours to become a certified general appraiser in 2015. She now holds licenses in the District, Maryland, Virginia, and West Virginia. During her time at HVS, she has published articles on the dynamics of the most prominent Mid-Atlantic hotel markets, including Washington, D.C., Baltimore, Philadelphia, Annapolis, and Wilmington.

Ms. Leffet is immersed in the lodging and real estate industry in Washington DC, participating annually in the Bisnow Lodging Investment Summit (BLIS East), as well as attending other local real estate group gatherings, as well as her involvement in panel discussions related to career development and hotel branding. She helps lead and organize a number of networking and educational events for the Washington D.C. Hospitality Real Estate Society (The HRES).

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

Ms. Leffet can be contacted at +1 +1 (302) 740-2772 or cleffet@hvs.com

Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.