Editorial Board   

Mr. Redington

Neale Redington

Partner, Deloitte

Redington has been an advisor to major real estate firms for more than 17 years in the REIT and hospitality sectors. He brings opportunities for wealth creation to hotel owner/operators and management companies through performance of annual audits, operations reviews, due diligence procedures, and assistance with initial public offerings. Last year, Redington provided accounting advisory assistance to KSL Recreation with its $2.2 billion sale of luxury resorts, including Grand Wailea and La Quinta Resort, to CNL Hospitality. This was the largest US luxury hospitality transaction during 2004 and was recently awarded "Transaction of the Year" at the Americas Lodging Investment Summit. Redington has been instrumental in many REIT formation transactions, dating back to the early 90s with G&L Realty and Alexander Haagen Properties. More recently, he has worked with Casden Properties, CNL Hotels and Resorts, and CB Richard Ellis. During his career, he has provided due diligence assistance in many major real estate transactions, including Southern California deals such as Cendant's acquisition of Coldwell Banker and Century 21 and national transactions such as Blackstone's acquisition of Homestead Group and KKR's disposition of Red Lion Hotels. Redington is co-author of the Hospitality chapter of the Real Estate Accounting Handbook, and has participated in the development of the 10th Edition of the Uniform System of Accounts for the Lodging Industry. He frequently speaks on hospitality issues at trade events and with the media. Redington attended Birmingham University where he received his BCom(Acc)(Hons). He is active in the Manhattan Beach community where he lives with his wife Marissa and three children.

Mr. Redington can be contacted at 213-688-4762 or nredington@deloitte.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.