Editorial Board   Guest Author

Ms. Andrews

Heather Andrews

Vice President, Americas, Corporate Payments, WEX

Heather Andrews took the reins of Vice President, Americas, Corporate Payments at WEX in 2019. Ms. Andrews' key influence throughout her career, including various roles at WEX, has been as a driving force to optimize the effectiveness of organizations, teams and individuals. Her commitment to building strong partnerships has been a common thread across her more than 20 years of experience working with companies of all sizes to identify pivotal opportunities and successfully drive change.

Ms. Andrews joined WEX's Corporate Payments Executive Team in 2018 from the WEX Health line of business. As a founding member of Lighthouse1, now WEX Health, she was part of the core team that grew the company from $0 to over half-a-billion market value by acquisition 8 years later. Now, in her role of leading the commercial team for the Americas in Corporate Payments, she leverages this dynamic professional experience to drive success collectively with customers and strategic partners.

Ms. Andrews holds BS and Masters degrees in Organizational Psychology and lives in Minnesota with her family. She is also on the advisory board for the district's Community Education organization, volunteers with the children in community and global food distribution initiatives, and is involved with "TeamWomenMN" strengthening and encouraging women in business at all levels.

Powered by the belief that complex payment systems can be made simple, WEX is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in 20 currencies through more than 5,000 associates around the world.

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

Linkedin Profile: https://www.linkedin.com/in/heatherandrews9

Ms. Andrews can be contacted at +1 651-336-5802 or heather.andrews@wexinc.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.