Editorial Board   Guest Author

Mr. Karamat

Sherrif Karamat

President & CEO, PCMA

Sherrif Karamat, CAE, is President and Chief Executive Officer of PCMA.  Mr. Karamat also serves as President of the PCMA Foundation and Publisher of Convene magazine.

As CEO, Mr. Karamat leads the vision, mission and promise for PCMA's global family of brands. He serves the greater business events industry as a prominent business architect, enabling our community to become a catalyst for economic and social progress, organizational success, and personal and professional development.

In his previous role as Chief Operating Officer, Mr. Karamat led the development and implementation of PCMA's new vision: driving global economic and social transformation through business events. In addition to his responsibilities at executive level, he also directed streamlining of PCMA's content creation and delivery channels into one organization. He oversaw partnership, business services, membership, business development and technology teams.

As part of PCMA's growth strategy, Mr. Karamat has led a major data intelligence program and played a key role in the 2017 acquisition of Incentive Conference & Event Society Asia Pacific (ICESAP).

A leader in the business events industry, Mr. Karamat previously served as Vice President of Business Sales and Services for Toronto Convention & Visitors (Tourism Toronto). He has served on various boards and is currently a director on the Destination International Board of Trustees.

Mr. Karamat is a life-long learner. In addition to completing his bachelor's degree and Masters of Business Administration from York University in Toronto, Canada, he has completed postgraduate certificate programs at Wharton School of Business at University of Pennsylvania, Kellogg School of Management at Northwestern University and the University of Chicago. At Harvard Business and Law School, he completed a program on strategic negotiations for senior executives and a program at Massachusetts Institute of Technology (MIT), one on data intelligence and big data.

Please visit http://www.pcma.org for more information.

Mr. Karamat can be contacted at +1 312-423-7210 or Sherrif.Karamat@pcma.org

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.