Editorial Board   Guest Author

Dr. Kimes

Sheryl E. Kimes

Professor of Operations Management, Cornell University School of Hotel Administration

Sheryl E. Kimes is a Emeritus Professor of Operations Management at the Cornell University School of Hotel Administration and a Visiting Professor of Analytics and Operations at the Business School at the National University of Singapore. Her area of specialization is revenue management. She has been teaching, conducting research and providing consulting services in this area for over 25 years. She has published over 100 articles and book chapters and has received multiple awards for her research including the Lifetime Achievement Award by the College of Service Operations of the Production and Operations Management Society and the Industry Relevance Award by the Cornell University Center for Hospitality Research in 2010, 2012 and 2014.

In 2017, she was given the Hotel Sales and Marketing International Association Vanguard Award for Lifetime Achievement in Revenue Management. She was the third recipient of this award.

She has won multiple teaching awards including the Hospitality Teacher of the Year in 1993, 1997 and 2003 and a Ted Teng Teaching Award in 2012. In 2014, she was honored with the Menschel Distinguished Teaching Fellowship from Cornell University. She was the fourth recipient of the award.

Professor Kimes serves as a consultant to many business enterprises around the world including Fairmont Raffles Hotels International, American Airlines, Walt Disney World Resorts, Hyatt International, The Peninsula Group, Four Seasons Hotels and Resorts, Starwood Asia-Pacific and Marina Bay Sands.

 

Please visit http://www.cornell.edu for more information.

Dr. Kimes can be contacted at +1 607-255-3692 or sek6@cornell.edu

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.