Editorial Board   Guest Author

Mr. Patel

Shreyas "JR" Patel

President & Chief Operating Officer, Helix Hospitality

Shreyas "JR" Patel, is the President and Chief Operating Officer of Helix Hospitality, a multi-faceted hospitality company. Its primary services include hotel investment, ownership, management, and construction / renovation, and represents many of the top hotel brands in the country.

Founded by Mr. Patel in 2012, the Chicago-based company has seen impressive growth under his leadership with extensive plans for further expansion and acquisitions. In less than 10 years the investment portfolio has grown from $1M to over $100M and the property portfolio has grown from 1 property to 11 total with over 300 employees.

Mr. Patel began operating and managing a single property in Montgomery, Alabama after graduating from DePaul University with a dual degree in Finance and Management. Still on shaky ground after 2008's economic crash, the hospitality industry was ripe with properties under high risk. Where others saw troubled deals, he spotted opportunity. With an urge to innovate, he set up this small, agile company - Helix Hospitality - to revive properties through large-scale renovation vs. new construction.

Mr. Patel removed geographic restraints by pursuing properties nationwide, strategically positioning Helix for optimal growth. His intentional focus-renovation vs. rebuilds; national vs. local-both stop-gapped an unnecessary trend for wasteful new construction and offered Helix the competitive edge of access to exclusive, existing properties already familiar to loyal consumers.

Mr. Patel serves as a board member for the DePaul University School of Hospitality Leadership and co-chairs the Academic Program sub-committee to grow DePaul's Hospitality program and empower the next generation of hospitality professionals.

Additionally, Mr. Patel is a regular contributor to trade publications and a member of AAHOA (Asian American Hotel Owners Association).

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

Mr. Patel can be contacted at +1 630-519-30251001 or jr@helixhotels.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.