Editorial Board   Guest Author

Mr. Reid

Clayton Reid

CEO, MMGY Global

Considered one of the travel industry's top minds in marketing and strategic planning, Clayton Reid has worked with companies around the world for over two decades.

Mr. Reid is responsible for MMGY Global's overall vision and leads the company's $60 million marketing communications practice across six countries and 10 offices, including Dubai, Kansas City, London, Los Angeles, Madrid, New York City and Washington DC, as well as affiliates around the world through the Consul network.

MMGY Global is the world's largest integrated marketing company with over 400 colleagues across global offices, specializing in the travel, tourism and hospitality industries. MMGY Global offers a holistic approach for some of the most respected brands in the industry.

Heavily involved with industry advocacy, Mr. Reid is a sought-after speaker and has been featured by news organizations such as Bloomberg, NPR, The Wall Street Journal, The New York Times and CNN. He has served on boards including The United States Travel Association, The New York City Hospitality Council and The World Alpine Ski Championships, and he is a strategic council member of Gerson Lehrman Group (GLG) in their travel advisory practice.

Mr. Reid has twice been awarded the American Express Steven Harvey Achievement Award for Marketing and has been selected for the exclusive Arthur Page Society. He is also an advocate for sustainability and social cause in travel, being featured by Skift and Forbes for MMGY Global's international push to make travel a platform for equality, cultural understanding and economic opportunity by inspiring people to go places.

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

Linkedin Profile: https://www.linkedin.com/company/mmgy-global/

Mr. Reid can be contacted at +1 816-300-5104 or creid@mmgyglobal.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.