Editorial Board   Guest Author

Mr. Sharma

Chinmai Sharma

Vice President Revenue Management, Wyndham Hotel Group

Chinmai Sharma is a successful revenue management leader with more than fourteen years of progressive hospitality experience in the fields of Market Analysis, Revenue Management and Electronic Distribution with companies like Taj Group of Hotels, Hyatt International, Expedia Inc and Wyndham Worldwide. Mr. Sharma joined the Wyndham Hotel Group in 2007 and is responsible for the overall Revenue Management process for Wyndham Hotels and Resorts, Wingate by Wyndham and Hawthorn Suites by Wyndham brands which includes setting strategic direction and alignment for the brands and specific hotels. He also oversees enhancement and delivery of centralized revenue management services to its portfolio of managed and franchised hotels globally. Mr. Sharma holds a B.A with Math from University of Delhi, a Diploma in Economics from the Indian Institute of Planning and Management in India and a joint MBA in Hospitality from ESSEC Business School, Paris and Cornell Hotel School (M.M.H), NY. He is a current board member of HSMAI's Revenue Management Advisory Board and is a regular speaker and panelist at industry conferences. He is based at Wyndham Hotel Group's global headquarters in Parsippany, NJ.

Mr. Sharma can be contacted at 973-753-6848 or chinmai.sharma@wyn.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.