Editorial Board   Guest Author

Mr. Walsh

Richard Walsh

Founder & Chief Executive Officer, Travel Marketing Dynamics

Richard Walsh has spent over 40 year in the inner circles of travel combining both airlines and hospitality.  For airlines he spent years with Air France battling the GDS on ranking and preferred data exchange.  From Air France, he moved to the Official Airline Guide to help develop stronger relations with travel agents.  From there Mr. Walsh I moved to Reed Elsevier Publishing to help solve challenges for providing airline schedules and hotel directories in North America as well as the evolving challenges with technology and access to this information. 

As the President for North America, he launched Amadeus in North America.  He created Innovata to provide global flight schedules with integrated hotel advertising capabilities by location search.  He was instrumental in the conversion of Reed Elsevier and Hotel Travel Index publishing companies conversion from print to digital access. 

For hospitality specifically, Mr. Walsh helped launch multiple companies that provide effective Internet marketing services, including website creation and search engine marketing (SEM).  These companies include Vizergy and Lodging Interactive.  His current consulting services have been integrated into new hospitality technology solutions hotels in the U.S. and across Europe.  Today, it is his mission to help the hospitality industry capitalize on new technologies that benefit the hotels one-by-one based on their location, guest profiles and location benefits that relate to proximity to corporate headquarters, government facilities, attractions and events.  Through the integration of why and where a traveler is going they will receive maximum personalization and benefits. 

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

Mr. Walsh can be contacted at +1 678-849-9996 or rwalsh@tmdynamics.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.