Editorial Board   Guest Author

Mr. Rose

Norm Rose

President, Travel Tech Consulting, Inc.

For nearly two decades, Norm Rose has been an analyst and consultant focused on emerging technologies and how they impact business practices in the travel industry. He has an extensive background in online, corporate, hospitality and leisure travel-related technology. Mr. Rose is renowned for his travel technology expertise, particularly his analysis of the impact of emerging trends such mobile and social media. Mr. Rose leads Travel Tech Consulting, Inc., a firm that specializes in developing e-commerce and procurement strategies for all types of travel related technology. This includes deep knowledge of technologies used for reservations, distribution, and marketing. Mr. Rose has been is also an analyst with PhoCusWright and is the author of numerous publications and articles including PhoCusWright's Mobile: The Next Platform for Travel and PhoCusWright and Travel Tech Consulting's: Corporate Travel Technology Today and Tomorrow. From 1982-1988, he held sales and marketing management positions at United Airlines and from 1989 to 1995, Mr. Rose was corporate travel manager for Sun Microsystems. At Sun, he worked with a number of third-party developers creating software for the business travel market. This included early prototypes of self-booking tools and expense management systems. Mr. Rose holds a BS in Marketing from the University of Maryland.

Mr. Rose can be contacted at 650-345-8510 or norm@traveltechnology.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.