Editorial Board   Guest Author

Mr. Kasavana

Michael Kasavana

NAMA Endowed Professor, School of Hospitality Business, Michigan State University

Michael L. Kasavana is the NAMA Endowed Professor in the School of Hospitality Business at Michigan State University. His teaching and research efforts are sharply focused on information technology and transaction settlement systems for self-service and full-service applications in hotel, restaurant, club, and casino environments. Dr. Kasavana has authored or co-authored numerous books, including Managing Front Office Operations (Eighth Edition), Menu Engineering (Third Edition), and Managing Technology in the Hospitality Industry (Sixth Edition). In addition, he has written numerous academic journal and industry trade magazine articles as well as designed instructional and operational software products. He is an active industry consultant and popular seminar leader. Dr. Kasavana was selected the 2011 Industry Person of the Year by the National Automatic Merchandising Association and is an inductee of the HFTP International Technology Hall of Fame and recipient of the prestigious FS/TEC's Distinguished Achievements in Food Service Technology Award. In addition, he has garnered the coveted MSU Distinguished Faculty Award, MSU Broad College of Business Withrow Teacher-Scholar Award, MSU Academic Spartan of the Year Award, MSU Teacher-Scholar Award, and was in the inaugural class of NAMA Certified NCE5 executives. In addition to his academic responsibilities, Dr. Kasavana serves as the MSU Faculty Athletic Representative to the Big Ten, CCHA, and NCAA conferences and is Chair of the MSU Athletic Council. The Kasavana family also provided significant financial support to create the Kasavana/Schmidgall Faculty Research Endowment in the MSU School of Hospitality Business. Dr. Kasavana received his B.S. in Hotel, Restaurant and Travel Administration, his MBA in Finance, and his Ph.D. in Management Information Systems from the University of Massachusetts-Amherst.

Mr. Kasavana can be contacted at 517-353-9211 or Kasavana@bus.msu.edu

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.