Editorial Board   

Ms. Bhattacharyya

Rani Bhattacharyya

Community Economics Extension Educator , University of Minnesota Extension- Center for Community Vitality

Rani Bhattacharyya serves as the Community Economics Educator in northwest Minnesota by supporting communities located in the counties of Beltrami, Clearwater, Kittson, Lake of the Woods, Mahnomen, Marshall, Norman, Pennington, Polk, Red Lake, and Roseau in the discovery and implementation of development opportunities. Through her work Ms. Bhattacharyya is also studying how company and community performance benchmarking can be integrated into long-term city, and community development planning processes. Ms. Bhattacharyya has facilitated local business-government partnerships and public consensus building activities concerning sustainable tourism planning and hospitality management in the U.S. and internationally. Past projects have included comparative studies in environmental certification programs for hotels and communities at Green Seal, Inc., a 25 county agri-tourism industry study for Western Illinois, marketing surveys for sustainable tourism destinations in Asia, and facilitation of sustainable destination development in the southern border region of Bulgaria. Ms. Bhattacharyya completed her MS graduate degree in the Peace Corps Fellows Program in Community Development at Western Illinois University, where her studies focused on the integration of sustainable tourism destination management and marketing with local economic development programs.

Ms. Bhattacharyya can be contacted at 218-275-3444 or rani.a.bhattacharyya@gmail.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.