Editorial Board   

Ms. Payne

Anne Payne

CEO, BeDynamic

Anne Payne is CEO and co-founder for BeDynamic, a Bellevue, Wash.-based digital content management company that provides timely destination information sought by the travel industry. Anne leverages a comprehensive information management background with expertise in business development, project management, and sales to drive BeDynamic's business strategy. Prior to co-founding BeDynamic, Anne spent more than a decade at Nordstrom Inc., where she served in a variety of roles ranging from sales to leading the development of business systems that would improve the customer experience. Recognizing the need for service-driven businesses to better connect with their customers, BeDynamic was launched in March 2000 to leverage the best in technology, quality information, and service with the need for organizations to build meaningful relationships with customers.

Ms. Payne can be contacted at 425-641-0725 or annep@bedynamic.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.