Editorial Board   Guest Author

Mr. Drury

Bob Drury

Senior Managing Director, CREXi

Bob Drury has been involved in the real estate industry since 1987, focusing primarily on acquisitions, re-development and dispositions of commercial real estate. Mr. Drury currently is Senior Managing Director at CREXi, overseeing growth of the company's transactional services including CREXi's Auction Platform and Elite Services.

Prior to joining CREXi in 2019, Mr. Drury was engaged to help grow the private client group at Auction.com Commercial, focusing on transacting third party and REO commercial asset sales. Prior to Auction.com, Mr. Drury was Sr. Vice President of Acquisitions/Development for Red Mountain Retail Group (RMRG) with the responsibilities of acquisitions and repositioning nationwide, sourcing transactions, underwriting cash flows, performing due diligence, and closings. In this capacity, Mr. Drury sat on the Investment Committee and oversaw all acquisition/development, and related staff. In his 13 years at RMRG, MR. Drury was involved in the acquisition and repositioning of 75 properties totaling more than 5 million square feet.

Prior to joining RMRG, Mr. Drury was a retail broker at Marcus & Millichap focused on retail investment sales and national corporate real estate services. Mr. Drury was also a Senior Manager at Ernst & Young Kenneth Leventhal Real Estate Group providing real estate consulting services to large national tenants.

Mr. Drury is a member of the International Council of Shopping Centers (ICSC). He also is on the board of the Orange County United Way Real Estate and Building Industry Committee. Mr. Drury attended Long Beach State University and holds a BS and a JD from Western State University College of Law.

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

Linkedin Profile: https://www.linkedin.com/in/bobdrury/

Mr. Drury can be contacted at +1 951-377-1987 or bob@crexi.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.