Editorial Board   Guest Author

Mr. Meyers

Jared Meyers

Co-Owner Legacy Vacation Resorts, Legacy Vacation Resorts

Jared Meyers is a hospitality veteran with more than 20 years in the industry. The University of Florida graduate is passionate about delivering a quality product through his company, Legacy Vacation Resorts, to help friends and families enjoy unforgettable vacations together.

Legacy Vacation Resorts boasts eight properties across four states and provides both vacation ownership and resort accommodation options. One of Mr. Meyer's other passions? Utilizing the power of his business as a force for good. Searching for a way to use his resources and abilities for positive change, Mr. Meyers learned about Certified B Corporations, which are companies that voluntarily meet the highest levels of social and environmental performance with transparency and accountability. Inspired by his findings, he immediately set out on a journey to transform his company into a Certified B Corp and also create a movement to help other hospitality and travel businesses to do the same.

Within a year's time, Mr. Meyers implemented a variety of changes to the LVR business model to secure certification. LVR is now the only multi-state hospitality company and vacation ownership company that offsets the carbon footprint of guests, offers to donate 5% of guest's reservation to a charity of their choice, donates 1% of total revenue to environmental charities as part of its 1% for the Planet commitment, sponsors Conscious Capitalism, and meets Certified B Corporation standards.

Furthermore, they have introduced multiple efforts towards a more sustainable business model, including waste reduction and enhanced recycling efforts, sustainable lifestyle awareness campaigns, green-focused renovation projects and a living wage initiative for employees in all eight locations.

Always looking towards the bigger picture for his social and environmental impact goals, Mr. Meyers co-created the Florida for Good program. With its entrepreneurial spirit, Florida For Good is the connector between B Corps, Conscious Capitalism, 1% For The Planet, like minded organizations/networks, governments/chambers, academia, and the localized For Good ecosystems throughout the state.

FFG and the local chapters provide support for events, free online business directories of like-minded companies and resources such as the free impact assessment for other business to see how they measure up to B Corp standards.

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

Mr. Meyers can be contacted at +1 407-997-3135 or jared.meyers@legacyvacationresorts.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.