Editorial Board   

Mr. Parker

Juston Parker

President & CEO, Parker Hospitality Group, Inc.

Juston Parker, President and CEO of Parker Hospitality Group, Inc., is an experienced performer in the hospitality industry. He began his career in hotel reservations and has extensive experience in all areas of hotels from operations, sales & marketing, to food & beverage, banquet & conference services. Throughout his career Mr. Parker has developed and nurtured a passion for creating top line revenues and strategically growing businesses, through new and innovative revenue management strategies. His analytical approach to revenue management has resulted in increased revenues, even in challenging times. His drive for cost of sale and pricing has impacted a wide variety of businesses which relied on his expertise to increase top line and bottom line revenue. As a published author on the subject of Revenue Management, Juston has been interviewed and/or quoted on CNN, Yahoo Finance, and Fox News, as well as featured in publications around the world ranging from HSMAI, to Thailand Hospitality, University of Florida, Event Solutions to name a few.

Mr. Parker can be contacted at 303-499-2443 or Juston@ParkerHospitality.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.