Editorial Board   

Ms. Bohrod

Georgi Bohrod

Principal, GBG & Associates

Georgi Bohrod, RRP leads a talented consortium of writers, media specialists and graphic designers at her firm GBG & Associates. GBG & Associates specializes in the seamless integration of multiple marketing and public relations toward the effective fulfillment of client business goals. Founded in San Diego in 1978 by Georgi Bohrod, the company has created and implemented a wealth of strategic marketing, advertising and public relations programs for hotels, timeshare resorts, resort developers, small businesses, service providers and travel industry corporations. Under the leadership of Georgi Bohrod, the company has won countless awards for collateral material design, interactive media design and public relations.

Ms. Bohrod can be contacted at 760-803-4522 or georgi@georgibohrod.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.