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 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.