Editorial Board   Guest Author

Mr. Skinker

Rick Skinker

Managing Director & Co-Founder, Indoor Water Conservation

Rick Skinker has a Master's degree in Finance from the University of Southern California and has obtained several certifications related to corporate restructuring. During a successful career as a turnaround consultant, he travelled continuously on a weekly basis for more than 25 years, staying in hotels throughout the US, Mexico and Canada. Using showers and sinks in different properties in different cities for that amount of time gave him an appreciation for good flows and bad flows in all categories of hotels.

In 2013, he had the opportunity to become an equity partner in a firm that had a patent on a device that controlled the flow of water in showers and sinks. He dove into understanding the market for these products and began to further develop the methodology used at the time to fit these devices in different applications. In 2015, together with Ken Leddon, they started Indoor Water Conservation. They developed technology that evolved into understanding what causes unbalanced flows in showers and sinks and developed a process to balance them. By working with customers before, during and after the installation of Flow Limiting technology, they have created the most advanced understanding of balanced flows and their benefits, both to hotels and their guests.

Mr. Skinker is passionate about Water Conservation and the continuous development of flow limiting technology and its impact on reducing and controlling costs while improving guest satisfaction. He lives with his wife, Elaine in San Diego and has four children and six grandchildren.

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

Mr. Skinker can be contacted at +1 619-392-8961 or rskinker@indoorh2o.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.