Editorial Board   Guest Author

Mr. Bailey

John Bailey

Chief Financial Officer, Prism Hotels & Resorts

John Bailey is the Chief Financial Officer (CFO) with Prism Hotels & Resorts, an award-winning, full-service hotel management, investment and advisory services company. As Prism's CFO, Mr. Bailey leads the various financial management functions of Prism's management and investment business, including risk management, legal, and receivership administration.

Mr. Bailey's professional responsibilities also include providing valuable support for Prism's new business development team, serving as a court-appointed restructuring officer for high profile bankruptcies, and serving in a leadership capacity as the chair of Prism's investment committee.

Prior to joining Prism, Mr. Bailey served as the Senior Vice President/Chief Accounting Officer for ClubCorp, Inc., a position where he was responsible for the accounting, financial planning and analysis, and human resources functions for the world's largest owner/operator of private golf and business clubs. He has also served as the Senior Vice President/Chief Financial Officer for HQ Global Workplaces, Inc., and as the Director of Finance and Vice President/Corporate Controller and Chief Accounting Officer for Bristol Hotels & Resorts.

With more than four decades of high-level accounting experience at a range of different positions in the industry, Mr. Bailey brings a rare combination of perspective and hands-on experiences to his work at Prism. His insight, expertise, and deep understanding of the financial contours and complexities of the hospitality sector are an invaluable asset to the organization.

A certified public accountant, Mr. Bailey graduated from Texas Tech University in 1979, where he earned a degree a Bachelor of Business Administration (BBA) in accounting.

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

Linkedin Profile: https://www.linkedin.com/in/john-bailey-ab326911/

Mr. Bailey can be contacted at +1 214-987-9300 or john.bailey@prismhotels.com

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.