Editorial Board   Guest Author

Mr. Chuma

Mike Chuma

VP Marketing, Enablement & Engagement, IDeaS

Mike Chuma is an innovative digital business and technology product leader driving organizations to their next "big think" strategic evolution. In his career, Mr. Chuma has successfully managed digital transformations, building world-class product organizations and launching leading-edge, user-centric business units. He has led global product organizations, reimagined product strategies in major technology pivots, spearheaded new technologies to drive SaaS business models, and directed omni-channel commerce adoption in a traditional retail giant.

Mr. Chuma joined IDeaS, a SAS Company, in 2016, bringing more than 15 years of progressive experience in driving growth and strategy in enterprise SaaS technology, eCommerce platforms, brand management and marketing for companies ranging from start-ups to Fortune 500 organizations. As vice president of IDeaS' global marketing and enablement & engagement teams, he currently oversees product marketing, demand generation, branding and communications as well as client, academic and industry education. In this dual role, he leads strategic initiatives to amplify IDeaS' industry-leading reputation for hospitality revenue management software and services and provide best-in-class training and learning experiences for its users.

Prior to IDeaS, Mr. Chuma served as Digital River's senior director of global product management and strategy. He held responsibility for global SaaS-based eCommerce and subscription product platforms serving the software, subscriptions and online gaming markets. Before Digital River, he held strategic roles in eCommerce, multi-channel marketing and brand management for organizations such as Albertsons, Inc., SuperValu and Trinity Springs.

Mr. Chuma received his Bachelor of Business Administration degrees in marketing and finance from Boise State University. He currently resides with his family in Minnesota.

Please visit https://ideas.com/ for more information.

Mr. Chuma can be contacted at +1 952-698-4319 or mike.chuma@ideas.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.